How Modern Data Strategies Can Underpin the Digital Identity and Authentication Practices Critical to Digital Transformation

Modern data strategies are crucial to underpin digital identity and authentication practices, which are essential for the success of digital transformation. The coming year will see a significant leap forward in digital customer experiences as enterprises accelerate their digital transformations. Rapid access to accurate data is vital for providing information, recommendations, and critical identity checks needed for contactless transactions. Modern data architectures can help make authentication simple, accurate, and frictionless while maintaining security and privacy. Advances in big data allow the use of multiple data points instantly for confirming identity, making passwordless methods more viable. Forward-looking financial services companies already leverage vast amounts of data to quickly pinpoint identity, and sophisticated database technology can help identify anomalies and false positives in real-time. The future of business is based on leveraging data, with privacy legislation playing a significant role in ensuring proper data usage and compliance.