Digital identity verification for a privacy-first world. A growth strategy for telcos.

August 31, 2021

We are immersed in the middle of the digital age where most of the daily tasks are carried out through the internet. Security and privacy have become a priority for companies, organizations and users, who need mechanisms and technologies capable of verifying digital identity, to operate under reliable environments.

Telecommunications companies have sensed this market opportunity and are betting heavily to become independent providers of identity verification services (for the ad tech industry, for example).

What is digital identity?

Digital identity or identity 2.0 is everything that identifies a person or company in the digital environment. When you search the internet for a person or company, on Google or social networks, you access a large amount of information that is part of their online identity.

Internet spoofing makes it necessary to use online identification and authentication systems that guarantee that Internet interactions are reliable and secure.

New sources of growth for telecommunications companies

In interactions and transactions over the internet, verification of digital identity is necessary in order to guarantee that the person with whom one interacts is really who he or she claims to be. This is achieved thanks to the verification of digital identity offered by independent companies with a high prestige and level of trust.

Telcos have identified this opportunity to present themselves as providers of secure digital identity verification services and achieve a new way to increase their business.

Verification of digital identity

Digital identity verification aims to solve the problem of online fraud and digital spoofing.

It consists of the process to guarantee that a person is who they claim to be, allowing economic transactions, business negotiations and all kinds of internet agreements in a reliable and safe environment.

Benefits of digital identity verification

The main benefits obtained from digital identity verification are:

  • Digital financial operations (transfers, online purchases, loan application…).
  • Minimize weaknesses in human control measures.
  • Administrative Procedures and Processes via the internet.
  • Trusted connections between IoT (internet of things) devices.
  • Comply with general data protection regulation.
  • Access to secure teleworking.
  • Improve customer experience and save costs.
  • Faster turnaround times.

Telecommunications companies explore new ways to grow by offering additional services such as financial services, the marketing of insurance or services associated with the repair and maintenance of devices.

Digital identity verification is a new business area that many telcos are implementing, becoming reliable providers to guarantee transactions, interactions and communications through the Internet.

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