Webinar Recording

Entering the Virtual World With Identity Verification


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The way consumers access products and services across sectors has changed forever as interactions move from physical to digital engagement. What started as a change born from convenience, is now a necessity and solidifying into a long-term behavioural shift. As consumers choose to access more goods and services digitally than ever before, it is essential that organisations meet users’ expectations of instant and convenient transactions, or risk losing customers to more customer centric online competitors. 

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Hello and welcome to today's webinar. My name is Annie Bailey. I'm an analyst with KuppingerCole. And today we have with us Oliver Krebs, who is with Onfido, he's the VP of the central EMEA region. And together we'll be entering the virtual world with identity verification. So I have a few information notes for you before we get started. And first is that KuppingerCole's EIC, the European identity and cloud conference will be taking place in 2021. So we welcome you to what we hope to see you there either virtually or in person as the situation allows next. These are some notes for you about today's webinar. You are muted centrally, and so there's no need to worry about muting or muting yourself. So just sit back and relax. You will also have access to the recordings and the slides after this webinar has concluded. And lastly, but most importantly, we do accept questions and we look forward to those. So please, at any time during the webinar, please submit your questions in the go-to webinar panel. There'll be a field for questions. So if you enter your question there, it'll be sent to me, and I'll moderate those at the conclusion of our webinar today.
So here's a sneak peek of our content today that we'll be going over. So I'll kick off the presentations, discussing the rise of digital identity. Some of the challenges that enterprises are facing regarding this, and of course, digital identities role in shaping digital transformation. Oliver'll take it from there and he'll be discussing the use cases and the technology driving digital identity, meeting customer expectations, and unlocking growth. And then of course at the end of the webinar, we'll have time for questions. So to dive right in, I'd like to pose a question to you, are we doing digital interactions? Right? So as we know, customers, access products and services online, more than ever before, and we'd like to make sure that this is a change, which is happening not only at the superficial level in bringing digitization to our customers, but really question if this transformation has gone completely through the organization to create the foundation for truly digital interactions.
So to question this, I'd like to bring up a few topics, which are central to considering consumer interactions. Online first is the onboarding process. And now this is the, the key part here. When we think of bringing consumers to an online experience and here, the key metric is, is minimizing drop-off. And so reducing the instances where an end user partially complete a registration, but then abandoned it. And another central piece to this experience is usability. Being able to make sure that the type of interaction is what end users expect, what is familiar, what is comfortable. And this also helps a lot in reducing turn rates. This is one of, of course, many factors that affects the turn rate. So being able to reduce the number of end users who do not return to a service. So these are two aspects which are really driving enterprises to create better digital experiences for their users. But on the other hand, this has to be balanced with security, and I'm sure you've all heard this phrase that there's a trade off between security and usability, but if we really consider what a fully digitally transformed organization could be, that shouldn't be the case security should work in the end user's favor.
And so we then consider, again, our consumer interactions with us in the digital setting. Is this a superficial transformation, or is there another layer that could be accessed or rather a different foundation from which we could build up on to make that a rule relationship stronger and actually be native to the digital environment? And I would say, yes, I'd say that foundation has to be digital identity and more specifically identity verification for reuse. So before I explain that more deeply, I'd like to make sure that everybody is on the same page about what digital identity really is. And in short, this is a representation of ourselves in the digital world. And I had an experience a month or two ago that described this perfectly, that a digital identity is not simply a representation of our ID documents in a digital form, but rather this is a, a multi layered more in depth personification of ourselves to interact correct in the digital world.
So I'll take you with me through this story. So I'm Annie Bailey. I'm an American living in Germany and I need to rent a car. And so I go over to my local car rental agency here in Stuttgart, and they have two requirements for me. They require that I have a valid driver's license and they require that I have a driving history of longer than two years. And so I reached into my bag and I pull up my physical wallet and look and see what's inside. And lo and behold, I have a German driver's license issued in 2012. So that is first requirement. I have a valid driver's license. Thank goodness. But what is missing from my wallet is actually a revoked Oregon driver's license, where I'm originally from. And as I was issued, my German license, I should hand in my other license. What that means is, is that I don't fulfill this second requirement because I have no way to prove that I have a driving history of longer than two years.
And this is a problem that wouldn't be solved by simply having a digital version of my ID card. What it needs is a layered history that would allow me to share with the right parties in a private manner information about myself, which would be something like this. The ability to show that I did hold an Oregon driver's license when it was issued, when it was revoked, but actually revoked the same day as my German driver's license was issued and re was revoked for no misconduct while driving. And so this sort of view of myself in a digital form would allow me to successfully rent that car. So I hope you can hold onto this image when we talk about digital identity and use that definition as we continue our conversation today.
And so now we're back at this question of the facts foundation to digital transformation, which is I would argue digital identity and specifically ID verification. And so we need this foundation again, to get beyond the superficial changes of just meeting metrics and transforming our normal processes to a digital process. We need digital identity in order to establish the same relationship with an end user across multiple channels in order to facilitate smooth access to multiple services, to minimize those churn and drop off rate, because those are important metrics. And it almost goes without being said, but it should be said it has to be interoperable primarily with internal systems, but even better with external system. Well, now we can start to question, how would we bring in digital identity to the systems that we already have an onboarding is really a key step here, because this is often the first chance to establish a user's digital identity. It sets them up to benefit from a long-term relationship where you do know when you have repeated interactions that build upon one another with a customer. This also opens up the possibility of reuse of identity. And this could be reused in many different forms, perhaps in authentication as one of the multifactors could be used in age checks for purchases of sensitive materials or in ID verification, which we'll get into more in a second because ID verification is what can make relationships and digital relationships more secure if you know who you're interacting.
So verification here it's really important because it sets the user up to fulfill high regulatory requirements in a digital setting. So that end user, all of a sudden has access to their financial services, use cases, perhaps applying for a mortgage, something which you would normally have to do. In-person over the phone with email sending scans and PDFs. This can be transferred to a smooth digital process with a supportive ID verification. And so not only does ID verification support these really high regulated use cases, which are regulated by things like KYC, know your customer, the general consumer identity and access management use cases can be really improved here because all of a sudden they have access to a level of trust, which has previously been outside of their reach. And this also creates a pathway into decentralized ID spaces. So move on from here. I'd like to also touch on some of the challenges of ID verification as we've known it before and how this fits into the onboarding process, but can actually be improved with a newer concept of identity verification, especially wrapped more in a, in a reusable digital identity. And so if we start on the left-hand side, considering the friction ID verification, this process has typically not been the easiest to go through. It usually takes time is quite annoying because you're going from multiple channels. Sometimes in-person on the phone via email. And so ID verification just brings so much friction that it hasn't been integrated into many onboarding processes. Only those that really require it.
But if we consider the possibilities of automation, there are quite a few solutions which are out there, which bring in a lot of robust fraud detection with a, an all digital ID verification process, then that removes much of the friction and much of the time and effort that it would take to verify your identity. Now, another concept that we have or assumption we have about identity verification is that it's only good once. And it's traditionally only been valuable in real time because the point of this is of course, to make a connection between the individual and whatever identity document they're holding or presenting, and to really make sure that they are representing the same person. But if I do this verification process and I leave the room and I drop my passport on the sidewalk and somebody picks it up and then tries to impersonate me, of course, that that trust is broken.
That verification is no longer valid because the status is no longer true. So that means, of course, anytime you need to verify somebody, the process must be gone over again from the very first step means it's costly. It's also inaccessible. So if we challenge this assumption, and if we look for possibilities to make ID verification, re-usable, then we could have a secure digital identity that is available available for all use cases, not simply the ones with highest level of assurance. Okay. And so this brings us to consider those different use cases. What could a reusable digital identity really improve? Well, we have scenarios, onboarding scenarios that really only require low levels of assurance. Think of e-commerce where you simply need to have a trustable name and address to receive your package. And that's perhaps some verified payment information, and that's about it. When you also have scenarios that require the highest levels of assurance to fulfill those KYC and any monetary laundering regulations. And so this reusable verified ID makes it financially possible for even those low assurance level use cases to streamline that onboarding process, make it so that their end users could bring with them a digital identity that they could trust. It doesn't waste their end-users time simply to onboard that.
And finally, we have standards. This has always been a challenge with verifying identity. Each region typically has their own specifications. What fulfills their CA KYC requirements. The definitions of the levels of assurance vary slightly from each region. Of course, each sovereign government issues, their own ID. And so there needs to be compatibility in between all of these regulations, if we start to consider a reusable digital identity, but what, you know, unifies all of these is ID verification. If we can find a method to positively identify end users, and of course, be able to transfer that from ecosystem to ecosystem that starts to bring these different standards into alignment. And this is in the ability to fulfill these standards. That's what makes digital identity trustable and reusable.
And so let's go briefly through what such an onboarding process could look like using verification as the foundation. And so imagine an end-user going through an onboarding process, hoping to gain access to a service. So verification is their first step actually. And so it would use a combination of scanning, a government issued ID and capturing their biometric information. What this would do is in a digital form, make a connection between the individual and the document that they're holding while of course verifying that this person is really truly a real person. This document is a valid document that it has not expired or been tampered with.
And this verification process coincides with the registration process, the form would be auto-populated from the ID document. Typically using OCR, this saves time can be checked by the end user if they want to make sure all the data was transferred correctly. And then we can start to consider reuse, how could this digital identity be used again for the end users benefit authentication is a huge avenue here using the biometric information that was collected beforehand to gain access to that service again. And what that does is re verify in a sense that that individual, the one that you verified at the very beginning does match the biometrics, which they're submitting in that moment. And of course, once that end user has gained access to the service, they can go through those high trust transactions, perhaps signing, making a sensitive purchase or a large purchase going through approvals of contracts, things like that.
And so to conclude, I'd like to point out a few aspects about identity verifications role in digital transformation and ID verification. As we've talked about it here, being able to go through in a digital onboarding process, this can be unified around the user because of that. It also brings in some interesting alignment with other processes, which are more increasingly becoming user centric. So privacy actions, access management, service delivery, things like this can be centralized around the user. It also opens up different opportunities from the enterprise standpoint, how a verified identity could be put to use access management is, is a strong use case here. Of course, the standardized digital identity is going to be really key in supporting a full digital transformation. Because of course, if we have user centric trends all over the industry, then there will have to be a standard standardized way of accepting different digital identities. So standardization has to be key here, but it's also possible if we consider identity verification, as one means of standardization and being able to read and understand the identities from other parties. And finally onboarding for reuse is a key step here. And being able to set the user up for easier and verified reuse later for other steps or processes.
So that concludes my section of the presentation. I do welcome your questions. Feel free to send those in the go-to webinar panel and we'll address those at the end of the webinar. But now I'd like to hand it over to Ali,
Everyone. I think that was already a great start on the journey of a digital identity. And I would love to take the chance to get you a little bit further and a bit more in depth of how rehear on FITO, see the world of digital identity a little bit more. So if you can see today, the identity as the foundation for everything you do as a customer, or if you are a provider of services and goods for your customers, that means in the end of the day, it's how do you keep both sides safe? How keep you to keep your assets safe? How does the relationship goes into the next step is meaning, okay, how's the first good impression I will love to take you all racing to an example, which I always use because I'm a customer, a wonderful little challenger bank code Revolut, where the onboarding was just great because it was so easy and flawless.
And this is not just in the banking side of the house. It's also when it comes to when any, you use the example of renting a car or using a sharing service, this is executive where you always want to be nowadays, it should be easy and fast. And last one is also, they have few rules to be, especially here in Germany, right? We, I think we are the world champions like rules and regulations. So this is very important that this also have to be regulated in the right way. So you're on the safe side for both sides. This brings us and of course, and you'll know what's coming. Nevertheless, I want to, before I go to the next slides revealing, what of course is the big change we're having this year? However, when you look back on the last, let's say 10 to 20 years changes, especially when it comes to digital world or our world and how our world and the digital world comes together, went on much faster than normal.
And this is, this is normal in our world today. And of course, with what happened was COVID 19 acted as a catalyst. It pushed us forward five to 10 years into the future without any forewarning, right? It took the whole in-person verification off the table. Think about what happens here in Germany tomorrow, we're going into full lockdown again. So this is something where the way, how was before completely changed out of the blue, where it was changing already, step-by-step now we were forced to do things differently. And also this means when this happens in the, on the personal side of license means also businesses have to adapt as fast as possible if you think, and I do apologize, but I'm quite sure that what glue vine will translate nearly into every language by how Peavine was provided in of the last days here in Germany and the different cities was already be adapted to the way how regulations actually try to avoid this.
So things aren't going in the direction normally the way how it should be. And also we will, we will face the fully digitally world for customers in NEH. So what does that mean at the end of the day? It has also changed the expectation for customers for both sides. So for me, I'm a strong user of the digital world. When it comes to ordering an Uber using door dash, using Amazon delivery hero, you name it, which is already something we know everyday and use every day. And now this is something that we, we as consumers see, actually, we want this for more services. We want to do more and more digital. And we also want to make sure the experience is as flawless as the ones who are with us since many years already in this journey. And that means best in class experience from every vendor, from every provider, we are using services from this expected, which means vice versa. Also we as vendors towards the, the people need to make sure we get to the right point here as well.
And then that means of course, and we, I think everyone knows that listening to us here, you know, that crime and war are the biggest innovation drivers in the world since the beginning of time. Right? And as you can see here, the number of global identity fraud increased by 41%, just over the previous year, especially in Germany and two, three other countries around here in Europe. And I mean the, the greater Europe, if you meet, let me allow to do this. Still frog went up bedtime because where something like this happens, there's always a time for the little fraudsters coming out there and trying something out. So this is something where we really need to make sure we secure the way, how we do business, even in the digital world, more and more. So the business needs to transform and to private onboarding and support on a digital level.
What does that mean? So first of all, and foremost is to make sure, and we set at the beginning and he pointed on this one as well. Safety is the most important thing right before we do something, we need to make sure if we unlock something, it has to be secure for both sides. So especially nowadays, when it comes to maybe transactions in the banking world, coming back to my example of as revenue to other things, we want to make sure that this is happening in a safe way. The next thing is, again, the two for the slides I discussed this already was the expectations from us customers. And I'm, I'm sending on there on both sides, which is quite interesting. Sometimes the expectation is rising. I want more, I wanted faster, and I want it in a way, which is less complicated than 2, 3, 4 years ago. When I tried to get things done digitally because the processes weren't there, the products weren't there and all this kind of stuff. And again, coming back to this one, again, this also the regulations need to speed up with a few things as well. They need to be aligned to the processes we have today, which sometimes can take a while, even though I think everyone is working hard on this one.
So one way how you can see this. And of course, quite proud to being on Fijian here and talk about our solutions and services, which are do in depth. But I want to at least give you two, the past here is of course, identity verification to make sure, to, to confirm who was who here and who am I? The one who's who I am to, to be. So, which means we are not feeder. We anchor accounts into a real identity. What does that mean? Taking them government ID, whichever you want to take, if it is what somebody in Germany, if it disappears and all those lies all the visor past and combining with your smiles, I would like to say, yes, this exactly what we're doing here. Because with this both things you can make sure you're secure, proved and verified. This is the point where we come into play in, which is one of the key cornerstones when it comes to unlock digital journeys, unlock detracted services, and actually your whole digital life, where it's an easy way in the fast way and a very secure way.
So how do we do this? And then the normal way, how we do this quite simple, we have verified users with a very robust and human approach, starting with identity verification. We confirm that the ID is legitimate and valid and the right document needed for this approach. And then the other one is to make a biometric verification, which could be a selfie, a video. And this was especially when it comes to likeness, which is the magic word nowadays that you don't put it from another picture. We get to this one in a second to make sure you are that a living and breathing person one way or the other. So a little bit of a twist here. So I would love to give you a few minutes just to look at this six driving licenses here from the lovely New York state. And if you can spot, if there are any differences, maybe there are two or three ones, but the same, just give you a few minutes to check it for yourself before I unreal. What is really going on?
Normally it would be great to see a few faces of your hand signs. If someone wants to maybe guess how many differences we have here, nevertheless, let me get you to the next slide to show you a rather differences out and why this is not that easy nowadays, because some obvious ones, if you saw the lower left one, nevertheless, or invalid ID numbers, there are a few other ones. And I can tell you the false is getting better and better and trying to get this documents, try to their need. So this is maybe something where I hope you could find a few ones. And again, just to give you a little bit of an overview of where we stand today. So next thing is also very important when it comes to biometrics, when it comes to video, when it comes to screen and everything else, it is of course, one thing starting, when you go for the, for the upper line, then we talk about a genuine video from, from one of our lovely colleagues, do a good face detection itself, and then having a spoofing heat map showing you what's going on, really, because the way how we do it is not just looking at the face itself.
You're looking a little bit deeper and seeing, okay, what is going on with the pictures below the, the point. And again, if you have more questions, how we do this, we are more than happy to talk to you either later or later on, and then in a separate session. So this is the way how it should look like in the, the upper line. The lower line is what people sometimes try and is trying to make a video from a screen, trying to do the face detection. As you can see already, there's a little bit of glare and everything else. And if you've been super spoofing, it shows you very clearly something is going wrong here. This can't be a true life face we're looking at. And this is just a very high level example of how things work in today using the techniques, which are out there to make sure a, not just recognizing the biometrics here, but also making sure we are doing that in a way to get all perfection out of the way.
So what does that mean at the end of the day, when you see a process you're looking to, to date, and this is maybe something which has coming in the near future, if you will, are customers using this already, it's really starting with, okay. How to, when do I use an identity? Where, where, how does it start? Where does it end at the end of the day? You can use the whole life cycle of one of your customers around the ID. I think which is, will be the, with coming in the near future either way, because the idea will be the single identity you need or the single token you need in your digital life. What does it mean starting with an account creation? So you start to register again, think about maybe five years ago, where we have tried to open up a bank account and needed to go to some interesting place where you had to confirm your you, where someone else is sitting in front of you and then advantage send by post mail.
And so on. Nowadays it is much faster and you can get different things done. Identity verification, very important to understand that before you lock in, you make sure the person was knocking at your door. This executive, the person who he or she claims to be, and also maybe very important are having the right age to enter UL, enter your door or having the right document is valid to enter your door as well. And then this will be the onboarding process. And then there are a few use cases you can use when it comes to forgotten passwords. If you, for example, again, a nice thing I did lately. I got a very beautiful new iPhone and I wanted to re in-state my Revolut account. So what I did is I smiled into the camera and I could start using the app immediate again, which is, I think something very nice, very fast and very secure as well.
And this is also him, the more you're going this route, the trust level goes up as well. So what else is out that we are not, we are not scratching the surface yet today when it comes to a identity, which is proven and which is secure, what else can you do? Of course you can make changes to your account. You can unlock new different services. We are talking to too many people out there in the car industry, the travel industry and everything else where this kind of stuff will come more and more and make it very easy to consume services, but also to make sure that you stop services at the right time as well. It count recovery beside me knows that you have hundreds of passwords out there with different websites where you don't know how to get there. And wasn't an old password I used was the password pack two weeks ago.
And once I, once I, part of this, all this kind of stuff, and more important when it comes to high-risk transactions where you want to make sure to dabble secure, this was making sure yes, you are having an account with us. But nevertheless, I also want to make sure for this transaction, you are the one and you are not forced by someone else to make this transaction. As you can see them at different varieties of services and possibilities, which we are more thinking of today, which will definitely come in the future. And also we'll change the whole experience between vendors and consumers. And I'm actually quite excited to see where this whole thing will bring us in the end of the day. So what does, does it mean in practice for the users? It is hopefully so hopefully if you use the right providers and services, a simple process with fewer forms, much easier, much faster, and a, in a way where you'll get used to because of this always the same way, how you do things like this, and then also using the same state own and not non data.
You all can buy from somewhere else, which may be transferred from somewhere else. It is really something they have it, and they use it with that. They using their own taste, their own ID. So that's a very nice thing to have. And also it helps to communicate in the right way if things go wrong because you know exactly what's going on. And also, and this is I think a very interesting one, which comes more as the real authentic education via selfie, because if it is easy to reauthenticate, you might want to do this much more often. It will secure many things in your digital life. So what does it mean for you? What does it mean for a provider out there for a service provider, for someone who provides goods during the digital channels, which are out there? One, one important one is putting the big stop sign in front of your door and retrying to stop fraud at the door already.
And we all know, especially when you are in the area of fighting fraud business, always an uphill battle, and we need to get faster. We get to get closer to the line and things like this will help to get this guy out of guys of other way, make Kate QIC more efficient and scalable, right? Nowadays it is a quite cost intense thing to do with the ways of how you have to do it today. It has to be much more efficient. It has to be much faster and also have to be part of the overall journey a customer's doing with us together. And of course, last but not least try to automate more communication in a way that it, it still feels in a personal way that you can act to watch person in front of your system. Instead of trying to be just being very generic when it comes through your answers, because this will might bring your ratings down and the different app stores and so on when it comes to this and coming to this one, I, we think here and on fetal, the world will change again.
We don't know where it goes. We, we are working on the next level. And I think that we, we will see in the next one to three years, there are changes coming. And especially when it comes to security, especially when it comes to our digital lives, because the world will not be diff the same than it was a few months ago. And we are looking forward to a interesting new year and to an interesting after COVID time where many things will be different. Let me allow you as a final slide, just to give you a little bit of a glance who we are here on fetal. We are a worldwide team of 350 wonderful, great colleagues. We can do checks and over a hundred and 195 countries, we have more than thousand 500 clients globally and raised a lot of fun because the industries and the people out there are really thinking and assuring that this is a space where things are going in the right direction and will help us to help all of you out there to make the journey on identity verification, much, faster, much easier, and much more reliable. I will not tell you how great we I'm sure we can see that we have few investors. We want amazingly at Watts. And with that, I'm, I'm done with the official party from, from the on fetal side, looking for what to answer, maybe a few question and get back to you and thank you. So
We've now arrived at our thrilling question and answer session, and I'm really pleased that yeah, we have a couple of questions from the audience. And so the first one that I would throw out there is a question regarding the, the pieces of identity verification, how this is all working. And so how is the system secured against color scan and print of document? Maybe Ali, if you can address this one from your perspective.
Sure. I mean, that's exactly thanks for the question, because this is exactly what I meant in the beginning is people are out there who are using a lot of brain power, which is, should use to maybe save the world instead of trying to get things out of our pockets. But this is exactly where the approach from freedom comes into play, where we call it the hybrid approach. So of course we using a high engineered AI engine to filter fraud in the first step. Nevertheless, there are always things which are not readable by an engine. So that's where human beings come into play checking documents piece by piece, again, to make sure a few things are, seem in a different way. And we do this in Pella, so different people working on different streams on the same document to make sure we will find every difference from the standard, how it should look like. And again, this is an uphill battle. Every day, we are finding out that people are getting more and more innovative to try to, to sneak through the door. We're getting there and together with our customers and partners, we're getting a little bit better every day to, to catch this done for us. This, I hope that answers the question in the right way.
Well, I think a follow-up question to this is this isn't considering the methods of communication with the document itself. And so being able to use NFC or communicating with the chip often incorporated in, in ID cards, is this possible. And how does that look like in the process of verifying its authenticity and its validity?
Yeah, I mean, and if season is a very interesting topic for us yet on feed as well, where we are, we are getting there because we are many countries and if C is used heavily, and this is of course, something, especially when it comes to the NFC chip and the way that the technology behind us is of course, another angle of security, which gets, gets added to the process. And absolutely, yes, it's reading out if you allow too. And that's another point, right? Because it's, we have to make sure that even the way how we do it, we do it in a secure way that we are not breaching the regulations out there ourselves. So it's not just reading the NFC chip and checking what's on it. It's also to make sure we verify that the process, how would this be done? Is this done in the right, right way as well, but definitely yes. NFC is of course that's why many countries and many on many levels starting using NFC as a part of the whole journey as well.
Yeah. Then a question from the audience going in a slightly different direction, how does this tie in with self-sovereign identity and decentralized identity? Do you have a thought on this? I also can, can jump in here as well.
You can jump in, so I'm not giving another product answer here. I have a few ideas on this SIS, but definitely the, I think this is a question for you, Amy.
Yeah. So, so my, my short answer is yes and no. And then yes, again, decentralized identity solutions really have to be built on identity verification. If you're sharing identity that have been saved in a digital format with others, they have to have a way of trusting that and ensuring that that information is actually correct. So yes, identity verification is incorporated in a lot of self sovereign solutions, but they're also really important outside of that space as well. So they're completely crucial to making decentralized identity work, but they're completely crucial to making a lot of processes outside of this space work as well. But this can be an interesting point of alignment between this concept of, of a self sovereign identity or decentralized identity and the way we've been handling identity in the digital sense before. And so this can be a bridge in a sense, identity verification can, can work to bring these spheres, these concepts closer together towards interoperability, which is a goal. Yeah. Another question that we've got from the audience regarding COVID, there've been a lot of shifts in customer behavior in the last year. And so how does this affect identity verification in general, but particularly what's happening in the telco industry, maybe Ali, I'm not sure if you have some thoughts on that.
I have a few faults because we were just working on a few interesting projects all over the world right now when it comes to this one. Yes, absolutely. I mean the point COVID, I think, changed the world. So interestingly, everyone thinks that that night means it's all digital buyer per se. This is not the case. So especially when it comes to the mobile mobility, mobile world and all this kind of stuff, we're seeing that yes. Things where they're already products of out already. What happens now is that they are getting much faster for the market to make sure to, to, to, to speed up all the processes for our customers and vendors coming, specially when it comes to the mobility side of the house. Yes. Quite simple is there are things that we see use cases getting much faster into the full digital world, which was before and a little bit, a mid shot off a few things. And I'm quite sure we will definitely see next year more to come as well when it comes to the mobile space and to digital identity and digital ways to, to verify this. For sure.
Yeah. Yeah. Really interesting. So then with all of these changes, how do enterprises need to change to meet the new expat expectations that customers have here?
That's a little bit of a tricky question. Truth affect enterprises is first of all, a quite few ones out there, for example, I, and I do apologize if I use a few brand names say, but I think that it makes it much more easier. So when you're thinking about Amazon as an advertiser, which comes out of the digital world, they know exactly what they're doing today. If you think about a, let's say Swedish furniture manufacturer, they are just starting the journey and, and they, they are big and they have more than 210,000 employees worldwide. Just think about the employees itself before we even start about customers. And this special company just stopped after many, many years to produce their wonderful furniture catalog. Not sure if you knew this, I didn't want to shock you. And there was this new spot this is happening, which means there must one, one thing which they normally set that will never happen, but again, it's happening.
So the journey for everyone started another one, which I always like to use as an example, is a company called hydrovac some entity out of Germany, which is, they are one of the leading providers of concrete and better than everything else. Interesting. They started, they jumped on the digital wagon with the beginning of COVID, where they now start having concrete mills and cement meals mills fully automatic, which wasn't thinkable 12 months ago. And that's why I'm saying for the enterprise, a date at the enterprise needs to decide, okay, where do we want to be in this journey? If we want to be in the journey we need to act fast. And that means, first of all, not thinking about technology first, because that's one thing of course, we, as vendors left to discuss this, the technology is to make sure I'll be ready for this journey. Are the processes ready to be? Digitalized are the ways how we go to market ready to be digitized. And there's a few things I think, which got speed up this year and we will see what's happened. And next year, definitely on the street in a, in a much faster way than, than expected again, 12 months ago.
Yeah. Another question cycling back to the nitty gritties of identity verification. What success metrics can we be using here?
So this is the typical KPIs you are having, especially when you are a vendor providing the services to the market. It is quite, it's quite easy. It is when you standardize, Outerminds automate and then repeatable automated in the way that means you're bringing up speeds. You're bringing up the whole user journey gets much faster, much flawless, and much more interesting on a few things. And you also, and you will see this in the end of the, how many people can I onboard because that's the main use case of identity verification today is onboarding of people, things or whatever. And this is where you can see already. When we talk to customers and prospects. Nowadays, the one thing is we want to be fast. We want to onboard people fast in a very secure way. And you mentioned that earlier, there's always a little bit of a balancing. There's always a little bit of a give and take from when it comes to security price, quality and time. There's always the four angles you're having as KPIs when it comes to identity verification and in the right way, especially when it is on your whole, whole onboarding process. This will be the four factors, which are always be the ones that we, where we can check. Are we on track or not?
We have a follow-up question to that one. What is the waiting time like when you're uploading your, your ID documents for verification and what is the waiting time for the entire process itself for the end user,
That it belongs to that few factors in there. But in general, we are giving out a SLA of five minutes for an answer. Interestingly, is that we are not just giving a yes or no answer. This is more invest. There's more below the surface for the one who are asking for this verification. It, but it can be from seconds to this five minutes, everything is in between them. There are many factors why this is the case and would take a little bit longer. And that would maybe get as passionate as a genomic can be when it comes to describe how one fetal works, but more than happy to do that offline with everyone who wants to speak about.
Yeah. So we've got another question and this one is regarding CPA networks, so I'll just read it out. So from the audience member regarding CPA networks, my main concern is that the end user refusal, why registering to our network? Do you feel like such security requests could be a stop for lots of potential affiliates? The point here is to find the right balance between security and sales.
That's a, that's an interesting question. I have to say in Iowa, if I, if I take my sales hat away, then I think it is absolutely the right question to ask is where do I want to find the balance for this fight? And the balance is, and this is something also we need to take to the market itself. We need to take to the end users where we asked, what do you want at the end of the day? Do you want something? And again, coming back to the four KPIs, do you want to have a secure way to get things done? Do you want to have it fast? Or you want to have it in a way where you don't have to have 6,016 or 20 passwords, which is the average, you know, we have to deal with in a normal test life, or do you want something which is a little bit different?
And that's a little bit more of a general question of just on the CPA. Nevertheless, that's exactly the point where I think there has to be a complete mind shift and I'm not talking about getting the DPA's out of the way of making sure that the data protection and the personal protection, everything else is it's one of the highest goods we have, and we should make sure we increase this now. But nevertheless, if we it's, it's quite simple. The first first data sends us out, but the first that we call it this early days, I'm a little bit older than I look like. We call it ASP that day. And the first data centers were that secure that they couldn't let customers. And we have to be careful that this might happen here as well that we get. So, so let's say secure, so protective of personal data, that there's no way that we can, can do business, which is other, and that's what I'm saying to find the right fine grade between those things is exactly where I think the mission for the industry, but also for the people it's in front of us for the next, hopefully years to find the right way to do this.
Sorry, a little bit longer answer to this very short minded question.
Let's see. We had another question. Just come in, let me take a moment to read it. Yeah. Is there a way to manually intervene in the verification result or is that even desirable?
I'm I'm I'm answering the second question. Of course it is not desirable to go into this one because if that happens, then the overall process is broken, right? And then you need to start from, from the start again and roots this verification into another line. But if there would be a chance to intervene manually into the old process, and I'm not talking about the manual verification, which I explained earlier, but that's definitely nothing. We, we want as we are working very close with many, many regulators out there, when it comes to financial institutes, when it comes to health care organization, all this kind of stuff, we have to make sure that not just we as on fetal, but we, as the industry have to make sure that the process is sealed and capsule in its way, how it is otherwise, the answers, the answers won't be correct. We are giving back.
Yeah. Thanks for that. Then a final question to wrap up the final slide of your presentation. It was a bit of a teaser, you know, what is coming next? How is the world changing? What long-term vision do you think the industry should be preparing itself for in the coming year?
I mean, what I said is, right, so we want to, if it is a smile or something else, but we want to unlock our digital world with one thing we always have with us. And it all started with, you know, having credit cards with us an ID. So then if we took a, it came to the phones where we today can unlock a lot. I think the next step will be, and you see this at airports where you can enter countries with your ID card or your, or your travel passport and your face looking into a camera. And then I think this are things again, the thin line between what should be done and what should be saved and all this kind of stuff. But nonetheless, the next step will be clearly that you, your personality, if it is the digital idea, whatever will unlock everything in your life. I'm quite sure this, we are, we will be faster at that point than we think or thought 12 months ago. And I'm quite sure we will be faster there than we think today. That's I have to admit, this is my personal opinion on this kind of stuff. Eh, give you an official and fetal answer means the next step will be definitely that more and more will be tied to an identity where verification is just one piece of the puzzle.
That's fair and really interesting to be thinking as we're coming to the close of 2020, how we need to be preparing for 2021. So that's it for our questions. Thank you to the audience for being so interested in, in really asking valuable questions. So that made the session really, really useful. And, and hopefully for all of the attendees also who, who didn't submit a question, I think they're able to learn something from your questions. So with that, I would just cycle to the end of this presentation. Again, a reminder that the EIC is coming up. So mark your calendars. KuppingerCole we host webinars like this one, but there's quite a bit else on our plate here. Writing reports, hosting conferences, things like this. So if you need any of these services, you know who to get in touch with, and of course we do host masterclasses. So if you'd like to become an expert on any of these topics, yeah. You can feel free to check that out as well as our many research formats on KC plus. And there's really a lot of content there on a variety of topics. And with that, then I thank you so much for your participation. Thank you for being here with me and, and sharing thoughts on this really interesting topic that there's a lot of momentum here and it's, it's going to be quite influential in the coming years. I think so. Thanks for being here with us and have a wonderful rest of your day. Likewise. Thank you.

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