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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.
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.
Liveness is quickly becoming an essential part of the identity verification process. However, before delving into what liveness is and the benefits associated with it, we need to take a step back and look at the larger picture. Why is liveness needed when we have comprehensive identity verification solutions already? How is fraud detection limited? Only then will we truly understand the need for liveness detection in our solutions.
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.
