How Digital Banks Will Fight Fraud in the Future

When was the last time you visited a physical bank branch and
talked to a real live human about your account? It's probably
been a while — and that’s the point. 


The fintech world is becoming more digitized all the time.
Eventually, there won’t even be brick-and-mortar banks. 


That’s all well and good. But, as we innovate the future of
banking, we need to consider how to fight fraud online. Unlike
in-person banking, digital banking doesn’t allow for a teller to
verify someone’s ID with his own two eyes. 


In reality, it's not as scary as it sounds. Depending on how you
think about it, there are more ways to detect fraud online than
in person. You can track IP addresses, phone numbers, emails —
and you can verify them all instantly. 


One hold up to fully digital banking (and transactions in
general) remains: Your social security number. Those little paper
cards with that long-form number have been used for ages as our
unique identifiers. But really, SSNs have been breached so many
times that they’re not an ideal universal identity option
anymore. 


So, what’s next? 


In our latest podcast episode, host J Cornelius and guest Heidi
Hunter reveal the future of identity verification for fintech
companies and users alike.  
You’ll Also Learn: 

The importance of detecting fraud while providing a
friction-free user experience. 

A three-tiered approach to innovation for customer-facing
fintech companies. Hint: It involves sales, support, and biz
collaboration. 

What tokenized IDs mean for the UX of transactions. 

About Heidi Hunter 

Heidi Hunter is the Vice President of Product Innovations at
IDology. In her nine plus years with the company, she’s steadily
(and impressively) moved up the ranks.


IDology is a leader in digital identity verification and
authentication, and Heidi is a trusted expert on and innovator of
ID and fraud prevention solutions. 


Additionally, Heidi has a proven track record in client
consulting, strategic partner management, and data science. She
has also developed SaaS and deployed several successful,
intricate client applications.


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