The Economist on online identity

We have come across a very interesting article in the Economist on online identity (Feb 7.) in which businesses and governments are encouraged to enhance security for web users in order to be able to identify themselves online. At the shop counter it is easy to identify customers but anonymity remains a major problem in the online world that is far too often being abused by cyber criminal.

Governments are trying to fix the problem, for example one of the priorities is to protect children from unsuitable websites. We see major industries, such as travel, finance and ecommerce, distracted from their core competencies as they are in a constant race to provide some mechanism to comply with Know-Your-Customer regulations (KYC). However, as the digital identification market is still very fragmented a lot of businesses often resort back to labor-intensive processes or even storing physical scans of passports.

For Jumio, this article hits the nail on the head. At Jumio, we have invested a lot of resources to solve the problem of online identification by providing unprecedented levels of consumer convenience and data security. With our Netverify product, governments and businesses can now easily verify passports, driver licenses and government-issued ID cards, without having to implement large, vulnerable IT systems. Jumio helps businesses meet KYC regulations and internal policies, reduce fraud and enhance trust and safety in online communities.

About Jumio Corp

Jumio delivers the next-generation in identity verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience.

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