Blog
Identity & Access Governance – Is it a NEED or a WANT?
Identity Fraud Costs
McKinsey estimates that synthetic identity fraud – in which criminals use fictitious IDs to secure credit is the fastest-growing type of financial crime in the United States. In the year 2016, synthetic identity fraud was responsible for up to 20% of defaulted credit card debt, costing lenders worldwide estimation of $6 billion.
During the pandemic, as the majority of the economy relied on the internet for everyday tasks, the prevalence of online fraud spiked by a third, and reported consumer losses of £2.3bn. Hence imperative to ensure the adoption and promotion of safe and secure means of identity
verification across society and the economy.
Identity Management & Access Governance
Identity Management (IDM) is a set of business processes that supports infrastructure, for the creation, maintenance, and use of digital identities in online spaces within a legal and policy context.
Digital identity is the keystone that ensures the Internet infrastructure is strong enough to meet basic expectations for not just service and functionality, but also for security, privacy, and reliability.
Approach
Build your digital Identity journey from basic blocks of access management to greater maturity of governance, ensuring that your identities are secured and governed.
