The Digital Identity Blog

In today's interconnected world, where the internet plays a pivotal role in our daily lives and businesses, the importance of cybersecurity cannot be overstated. With an ever-evolving landscape of digital threats, organizations and individuals are continually seeking innovative solutions to safeguard their data, assets, and privacy. One such game-changing technology that has emerged to bolster cybersecurity efforts is Artificial Intelligence (AI). In this blog post, we will explore the reasons why AI can be highly beneficial for cyber security.

The payments industry is constantly evolving, and with this comes new opportunities for fraudsters. As we move towards a more digitalized world, where payments are made online and in real-time, fraudsters are finding new ways to exploit vulnerabilities in the system.

Money 20/20 Europe was a wonderful experience with an impressive lineup of keynote speakers, sponsored talks, events, and a great conference floor layout. Attendees represented leading fintech companies, with many delivering outstanding presentations that unveiled fresh perspectives and highlighted emerging trends in fraud prevention, back and front office efficiencies, and much more. Their knowledge and insights helped us solidify our market stance and differentiation in this ever-evolving fintech landscape. 

As with most start-up technology firms, Verif-y was founded with a clear mission to solve a pressing problem – to protect the identity of individuals, as well as protect our partners from fraud. Along the way, we have found that we can solve many challenges in various sectors with our reliable, accurate, and fast identity verification solutions. In doing so, we help our partners eliminate paper processes (thereby reducing the risk of identity theft that comes with storing Personally Identifiable Information for years on paper documents). 

Last month Verif-y'sfounder and CEO, Ed Zabar, had the honor of attending the largest financial B2B expo in the world, iFX Dubai.  

Digital identity has come a long way in the past decade, particularly within the financial industry. Ten years ago, most financial institutions relied on traditional methods of identification, such as presenting a physical driver's license or passport when opening a bank account or applying for a loan. While these methods were effective, they were also time-consuming and prone to fraud.

Digital identity is becoming increasingly important in today's world, especially in the Supply Chain Industry. With the rise of blockchain and decentralized technologies, it is now possible to create secure, verifiable digital identities that can be used to track and verify the movement of goods through the supply chain.

A platform giving families agency-level tools to find and manage care for their loved ones; a chic smart ring designed to save lives by calling 911 when triggered; curated sustainable fashion; and a solution that ensures your identity remains safe by keeping your data secure and in your own hands – what do all these purpose-driven start-ups have in common? They were all thrilled to be back in person and exhibiting at TechDay! 

Know Your Customer, or KYC, is crucial to business. However, assessing the suitability of customers for a business relationship can be time-consuming and costly, particularly when conducting manual KYC. Fortunately, there is a solution. Verif-y provides automated KYC solutions to help businesses increase efficiency while reducing friction and unnecessary costs. Let’s take a closer look at the importance of KYC and why automated KYC is the best option for your organization. 

The Verif-y team had the pleasure of attending this year’s Money 20/20 conference in Las Vegas, Nevada. This industry-leading conference brings together companies from around the world, in areas such as FinTech, Payments, and Ancillary Services. It is an action-packed event filled with amazing speakers and provides networking opportunities with both new and familiar faces.