ATLANTA, Dec. 10, 2018
/PRNewswire/ -- Eighty-eight percent of IT professionals point to a
gap when trying to balance customer experience and digital
security, according to the 2018 Digital Identity Authentication
Index.
The survey, which was commissioned by Equifax, indicates IT
professionals are investing more of their budgets to close this
gap. However, more survey respondents are investing more heavily on
strengthening their collective customer experience.
When survey respondents break down their investments, nearly 10
percent more is allocated toward customer experience improvements
versus security.
"More than half of IT professionals use legacy technologies to
support their authentication strategies, which is alarming. If IT
doesn't prioritize adopting more advanced solutions and processes,
they leave their organizations and their customers vulnerable to
fraud, which will negatively impact the customer experience," said
Ken Allen, senior vice president of
global identity and fraud at
Equifax. "Customer experience and security can't be an
either-or thing for organizations anymore."
Cost, effort and time involved to implement, and staff resources
are the top barriers deterring survey respondents from adopting
more sophisticated fraud detection and prevention technology.
Nevertheless, IT professionals are exploring more advanced methods
of ID verification/authentication methods.
While passwords are still the most frequently used ID
verification/authentication method by IT professionals surveyed,
many are interested in implementing biometrics or federated digital
identity. Physical biometrics bested behavioural biometrics, with
64 percent of IT professionals expressing interest in adopting for
their organizations. Most felt physical biometrics would be better
for the customer experience.
A small group of early adopters (29 percent) already use
federated digital identity. Federated digital identity is the
result of linking a consumer's digital identity and the attributes,
which are stored across multiple, unrelated identity management
systems.
"Identity verification through a universal digital identity can
solve the customer experience and protection challenges so many
organizations face," said Allen. "No more password juggling and
frictionless fraud assessment creates a win-win for
organizations."
To learn more about the 2018 Digital Identity Authentication
Index, register for the Dec. 12
Merchant Risk Council webinar focused on the rise of digital
identity. Equifax experts will discuss the survey findings and the
benefits of universal digital identity.
For the 2018 Digital Identity Authentication Index, Equifax
commissioned a blind survey of more than 500 U.S.-based IT
professionals in October 2018. The
margin of error for this survey is plus or minus four percent.
About Equifax
Equifax is a global information solutions company that uses trusted
unique data, innovative analytics, technology and industry
expertise to power organizations and individuals around the world
by transforming knowledge into insights that help make more
informed business and personal decisions.
Headquartered in Atlanta, Ga., Equifax operates or has
investments in 24 countries in North America, Central
and South America, Europe and the Asia
Pacific region. It is a member of Standard & Poor's
(S&P) 500® Index, and its common stock is traded on the New
York Stock Exchange (NYSE) under the symbol EFX. Equifax employs
approximately 11,000 employees worldwide.
FOR MORE INFORMATION
1550 Peachtree Street, NE
Atlanta, Georgia 30309
Wyatt Jefferies
Sr. Director, Public Relations
404-885-8907
wyatt.jefferies@equifax.com
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SOURCE Equifax Inc.