Mitek has released a new report that examines digital identity from the consumer perspective. The report highlights some of the key trends that digital identity providers will need to take into account if they want to encourage more widespread use of their technology.
Mitek found that only 25 percent of consumers feel like they have a strong grasp on the concept of digital identity. However, a full 65 percent indicated that they use some form of digital identity every single day, which suggests that there is a large knowledge gap between providers and consumers that could hinder the rate of future adoption.
Consumers are particularly worried about security, and are not confident that the existing security measures are strong enough to keep their personal information safe. According to Mitek CEO Max Carnecchia, companies looking to introduce new solutions will need to devote some resources to user education to make sure customers feel comfortable with the tech.
“Consumers are increasingly turning to their digital identities to validate and secure the accounts they use to bank online and interact with each other,” said Carnecchia. “However, many users have a different understanding of what digital identity actually means and remain concerned over the protection of their information.”
The report notes that while consumers appreciate the convenience of digital identity, they want much more control over the personal information that gets shared with digital identity apps, including biometric information. The vast majority (over 75 percent) of respondents believe that digital identities are faster and simpler than physical documents, but only 17 percent prefer biometric identity verification compared to more traditional methods.
For digital identity providers, Mitek identified a considerable demand for gig apps that could provide in-home services like cleaning and family care, especially now that people are comfortable with innovations like online shopping and ridesharing apps. Mitek’s own document and identity verification tech is currently being used to safeguard numerous applications, including the HyreCar car sharing app and Flexi-Fi’s retail credit platform.
November 20, 2019 – by Eric Weiss