Event Recording

Oliver Krebs: Anchoring Real Identity in a Digital World


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In a world where you never meet our customers or employees face to face, it’s critical to anchor their real identity to their digital one.
It’s only by doing this that you can securely provision access, verify high-risk actions, and deliver on an experience that keeps them engaged. In this session, Olli Krebs (VP Central EMEA at Onfido) will examine how document and biometric verification can seamlessly enable trust throughout the identity lifecycle. 

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So, thanks again for joining me in this short presentation, where I try to hopefully give you a little bit of an idea how to anchor real identity today into to the digital world, the way how we see this in, on feed. And we are coming normally from the end user side of the house, when you see the way, how we support and help our customers nowadays to, to run their businesses and grow their businesses. So we tried with this to maybe get to the next level with you together. I'm quite sure you heard this many, many times over the last 12 months for sure that the world went a hundred percent digital in 2020. We all know because why, and there are few things behind it, which I personally think the world will never be as it was beforehand. And with that, and also with a decade of digital transformation in one year, which boosted us forward on many things.
And we found out that maybe products out there who can fit already into this new world or the new normal. We definitely know that many processes and a few other things are not as fast as we would like to. So what does it mean nowadays? Especially when we see it from our side of the house, when it comes to customers and even more also now becoming part of the whole user experience, not just the end user experience, but when it comes to end customers, but also internal and external, because we are letting people closer to our systems every day by bringing down walls between us. So the first thing I wanna talk about is they will walk away from a poor experience. I'm figured that myself many, many times now, here in Hamburg, when a few things take too long, I'm going away, right? It takes too long.
It's too confusing. And if no one can help me, this is definitely something I don't wanna do. And I try something else. This is a quite high percent we see already nowadays here. The second point for us is I feel restricted, right? Someone tells me exactly what I have to do, their limitations of left and right. I want to do a few more things, maybe special. And I'm, I'm missing the, the feeling that someone do care about me personally, especially when you think about people, maybe off a different generation than who is using this normally every day already, since they're here on our lovely planet. And last but not least the third thing here when it comes to this is privacy, right? That's one of the biggest things we are talking about, especially here in Germany, when it thinks, when you think about lockdown, everything else, the only thing which is still untouched so far is the privacy, privacy and the data around it.
So people don't like to share their privacy data. And that means for them, I might not do this this way. I would love to do it the old way. So this is something we are facing, especially when it comes to end customers. And we try to overcome this together here as well. So another angle here is when we talk about fraud, it is, and this is by the way, the, the, the two slides I'm showing you right now are fraud, which comes from the outside, right? So is this something where you see, just to give you a little bit of an example where the whole thing went, if you can see the numbers down there, I hope it is sharp enough, but it's starting from November, 2019 until end of October, 2020. And it is even going more up the last three months again. So fraud went up 41%.
That's a lot, and we know why it is especially nowadays as sad as it is, but in the end of the day, crime and, and war are the most successful innovation drivers for us all over the world. So, and we see exactly what's happening here. So that's one thing. That's more people trying to attack our systems to attack our credentials. And this means also transferring into something, right? So they're doing over hours, right? Normally our frauds just took the, the weekends off, as you can see, in 2000, 19, 20 20, they worked 24 by seven. So someone found out there's a momentum out there. And this raised in many interesting ways. And we, we see this working with our partners and customers together, all over the world. These people are getting very creative to find a way into our systems from the outside. Now, how do we go against it?
And I, I, I saw great presentation from my colleagues, from the other companies out there today, already. And over the last weeks where even though we might be competitors, sometimes we all have the same goal as making things more secure in helping still that the user experience is getting better and better and secure our most important stuff. What does it mean identity is key to meeting these challenges in our very own opinion, because if we do this right, and if we manage this right, we have a great security, which means for us and for our users as well, internal as external, the experience, the user experience, the journeys we are giving out there, if it is now again for our external customers or also internal right there, sometimes we forget this sometimes, but our internal users are customers somehow as well. And this needs to be in the right way as well.
Because if an experience is good, I'm more than happy to do it the same way again, then, then it is awful. I try to go against it. It's a natural behavior for human being. And that's very important that we do this right. And last but not least compliance, know your user, know your customer. You need to know what's going on. You need the data to make sure that you just the right people at the right time, the assets you want them, them to touch at that moment. So having said that, and maybe setting the scene a bit around this one, let me move forward to the next one. How do we think as one part of the, and one piece of the puzzle around that that's very important is we want to anchor accounts to real identity. How do we do this here? Ono. It is quite simple in one way.
And then of course, quite complex. When you look, look a little bit underneath the surface in the end of the day, we verify the customer's idea. That can be any idea idea you can think of globally. And I will talk about this one a little bit later when I tell you a little bit about Ono, but it is the customer's ID, whatever this can be driving license with your D passport, you name it, then know your customer's real means. Find a way to, to find biometrics, find out that they are not spoofing or whatever it is in the end of the day. And then both together are bringing you a real identity. Again, you will see different ways how to do this in general. It's always the same. We want to make sure that a official document type with lovely face, hopefully also with a smile.
Sometimes we'll make sure there's a real identity out there. And this is proven that the person is the person she or he, or it will be the one they say they are. And then this moves into quite nice things you can do today. And again, you will see many things here already, which you are doing today with other amazing products out there helping you to do this one way. We think there is a third level of trust, a third level of security we can add to the game when we bring in the face. When we bring in the biometrics around this, which is putting a real face and a human being behind actions they want to do or try to do classical thing. When you think about account creation, registration, all this kind of stuff is of course, quite easy to do. And you do this today, already identity verification, or becomes a quite interesting one lock in.
There are many ways how we can log in today. Maybe think about doing a fabrication like this could be an interesting one. Let's think about it. Let's talk about it more than have to do it. The next phase here will be a real authentication, right? When it comes to a forgotten past, or someone wants to do this nowadays, you still need to do a few things. It's one of the oldest, and I talked about this. I'm in this, this business for a long while. Forgotten password always was the, the number one driving for driver for business case, even out of the Paragon and remedy days. I know I'm right now, letting you guys know how long I'm in the business now, already, when I say this two companies, nevertheless, that's very interesting. The next thing thing about privileged access, high risk transactions, we are helping many customers out there, not today with their end customers to, to have a second level of security.
When it comes to high risk transactions, lot of money, or when it comes to money laundering, all this kind of stuff, make sure they are the persons who they are and they who they say they are and go to the next level and last, but unless at least make changes to your account. Everything else, every time there's an identity behind it and should be behind it. And they are definitely ways as you can see here already done today. How do about thinking, doing this with a smile? How about saying, okay, I always have the key to the access, to my digital asset, to my digital world. Always with me, it is my face or whatever you want to do, but normally the faces and hopefully the most important thing you you have with you, and this can unlock everything you want, re unlock things, and also make sure put not just a time, maybe credentials, but also a clear sign of who did this.
Really. There's no way we can escape from representing ourselves in our face. Having said that move forward to the next level. What does that mean? In the end of the day, we want to enable our users community to authenticate. We want to give out high risk action approval. This is something when it becomes to the VIP accounts. You're thinking about when thinking about IM a few other things out there, toxic combinations and risk adverse on. So on account recovery. If I need to make sure my accounts get recovered, I don't know, two, three more credentials anymore. I might even lost the crazy password. I, I should remember. This is something where you just have to look into the camera of your phone or the web camera, and then you can get reality, quite easy or unlock new services. We just had very interesting conversations in the mobility space, where you will in the near future when it comes to automotive and everything else that will let you use different opportunities in the car.
Think about car heating, seat heating and so on. Be unlocked when you need it instead of your paying for it the whole time. And this should be, could be something where you can just have your face with you and you are unlock themselves in your car quite in today. Limit more futuristic. Nonetheless may be interesting for you to think about, and last but not least, we talked about this, make changes to the account and make sure you can do this in a very easy flow without any interruption in between it to find out which password do I need now and all the other stuff going over to next. What does that mean in the end of the day when we spoke about fraud beforehand? Right? So this is exactly what we're talking about. We want to make sure that if you think about internal and external, you can take care of this.
Right now, we are seeing that we trying as much as possible to keep the out from the outside, frauds us away still as of today. And it was many years ago when I heard this the first time, the, the 90% of all vulnerabilities coming from the inside. So that means we not just have to con make sure we secure what we do from the outside, but we also want to make sure that people know, we know what's going on. And we want to make sure that with many, many other possibilities you can do today in the am world, which is amazingly good to make sure that even if you have to join and move a Lever's process in hand, that someone else is not doing something for someone else, though, that's exactly our idea behind friendly fraud, employee fraud. We want to get rid of this.
How can we do this? It's quite simple, real ate. Where's the selfie with your face and coming to this, what does it mean in a summary? This is quite simple for your users, for your customers, for yourself. It is a very simple process at onboarding. There's no big things you need to do. This can be part of your, of your flow, either way, using things. They are your users own, right? This is my face. I own it. I don't need to put it with me. And it is not known data. We don't need to store data. We don't need to have something with us the whole time. It is. It is something even when it comes to privacy, a very interesting approach to go towards this one. And last on the lease, it is convenient. A reification time. Every time it is cost effective, it's fast, and it doesn't need any human inter interaction with this one, which again takes maybe one or two bad ideas out of the equation either way.
And then for yourself, for you as a company, it is trust across all the life cycle of a user. You maintain this, you show you, you trusting in this way and you can make sure every time I want to check this, it will be the same result or even it is a clear yes or no when it comes to this point of the case, next thing is will be, it will reduce the system vulnerability, why we are taking the human factor out. We are taking the, the automation in, and also taking in that every time you, you check on a selfie, it is clear that it is you. And last, last, but not least know your customer efficient and scalable, which is one of the biggest things. Think about nowadays, all the cryptos out there, everything else. When a gentleman out of us start Twittering again about Bitcoins and other things, it was an interesting experience we had with our customers together. What that means on new onboarding requests, all over the world.
With that, please allow me to give you a few sentences around on Fido. I have the honor today to represent a team of more than 450 colleagues worldwide. We are based in every country. You can in the different areas and geos, we can support in 195 countries, complete checks 24 by seven. We have more than 1,500 clients globally. And we are growing every day. And as you can see within the investors to please allow me to at least be a little bit proud of the investors we having begging us is, and we are facing right now more than 200 million in funding because the industry and the industry leaders are clearly investing into a solution and they take the technology like ours for the future, with that, I'm already coming to it to an end, hopefully in time. Hopefully it gave you a little bit of an insight where we stand and I'm more than happy to answer any questions you might have.

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