, 97% of organizations experienced challenges with identity verification between February and March of 2024. Of those organizations, 49% shared that the fraud prevention strategies in place at their organization are “somewhat or entirely ineffective,” especially against the threat of AI and other emerging technologies. It is now more critical than ever for businesses to adopt identity verification processes to verify their users.
In addition to protecting against fraud and managing compliance and risk, IAM processes improve the customer experience and commerce enablement by leveraging device-based intelligence to verify user identities. Using mobile device data like mobile, telecom, and other signals, eliminates unnecessary account friction from the IAM process, and tools like thesimplify ongoing IAM for businesses, enabling real-time identity management throughout the entire consumer identity lifecycle.