Digital Identity

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Challenges faced by companies in adopting online onboarding process

In the face of huge societal and economical challenges, the need for digital transformation seems the only ray of hope for survival for any company in any domain. Even post COVID there is no escape from going digital because generation Z who learned how to swipe a screen before they learned how to speak will be influencing and dictating the market. This might as well change the face of digital onboarding process of the customer.

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Alternate credit scoring: A boon for the banking sector

Financial institutions are responsible to provide liquidity to the economy and permit a greater magnitude of economic activity. Without financial institutions all the stacks of dough will be stuffed under your mattress, no benefits from fluctuating interest rates could be reaped. These establishments basically conduct financial transactions such as deposits, investments and loans.

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Use of Machine learning for pricing strategy in e-commerce and retail Industry

Pricing can be a thorny task. Pricing challenges and intense competition in ecommerce markets have shot up drastically in the emerging age of internet because of price transparency. There is always a cheaper alternative or a costlier alternative of almost everything you see on an e-commerce website. Any person with a high threshold of time would explore all the options before investing the money into something.

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Data enrichment for hyper-personalization

Back when everyone wanted long, thick dense hair bun to flaunt their beauty, it was easy for businesses to market a hair oil highlighting the benefits and ingredients. Soon, as times changed, competition increased, the market became consumer centric, it was the time to create differentiation in the product by making the consumer recognize different hair problems.

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KYC - Untying the gordian knot of identity verification

There is a common thread between academy-award winner, Leonardo Dicaprio and the indispensability of know-your-customer (KYC). For most of you Dicaprio fans out there, you would have guessed it by now, that connection is the blockbuster ‘Catch me if you can(2002)’[1]. Dicaprio portrays a master con artist, who some consider as the best of all-time, Frank Abegnale.

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M-Shwari: A window into the future of micro credit

Micro credit is one of those financial offerings which resides at the rare confluence of societal benefit and profit motive. The impact of microcredit availability on self employment, children’s education, sanitation, poverty reduction and women empowerment have been the subject of countless studies.

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Data Protection, Regulation and Control hold Immense Possibilities for Consumers in the Future

Over the last few decades, volumes of domestic and cross-border data flow have skyrocketed. Predictions from a team of software experts from Techjury estimated that in 2020, each person will generate 1.7 megabytes in just a second. The increase in data volumes, while increasing the efficiency of organizations through real-time decision making has also increased security breaches where consumer data is being exploited for gain.

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A brief history of "Identity"

In ancient history, to be able to establish identity implied you had to recognize the person simply by their appearance. So typically, one actively transacted only with those in the same neighborhood or village. “One of the earliest known references to paperwork that served in a role similar to that of a passport is found in the Hebrew Bible.

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Alternate Data, a catalyst in creating Digital Identity

Identity verification is the first and significant part of any business transaction. Traditionally, businesses have been relying on tacit agreements and physical copies of Government approved identity documents for stakeholder identification and verification. As the world gets smaller, thanks to digitisation and technological advancements, businesses are presented with a wonderful opportunity of interacting and transacting with individuals in any corner of the world.