Customer data and identity is at the core of every operation in businesses. Especially today, when most of the transaction and business processes are online, user data acts as a crucial parameter in dispensing products and services effectively. Hence, putting in place a zero-trust access policy and implementing a modern authentication and authorization system ensures data integrity and security.
Every day millions of exchanges of user’s personal information happen online for convenience. When you download or log in to an app, or subscribe for any information with your email address across multiple websites, provide necessary details while successful checkouts, your digital footprint grows.
Unfortunately, cybercriminals keep an eye on system vulnerabilities and do not stop from mending newer ways to get their hands on this information. Identity thefts and frauds are becoming a persistent problem putting all your customer’s information at risk. $3.5 billion in losses was reported in the year 2019 related to frauds. The more data you share, the higher the chances are that a criminal can access and use them for malicious purposes.
Secure data solutions are the way out. Whether on-premises or in hybrid multi-cloud environments, strong data security helps you gain greater visibility and insights to discover and remediate threats enforcing real-time controls and compliance.
Introducing MIDaaS as the combative measure
Considering the current digital transition and the rise in cybercrimes, Route Mobile has come up with Mobile Identity as a Solution or MIDaaS. According to the GSMA report, 49% of the population uses internet services on their mobile devices. Hence, a sturdy identity solution is what the world needs now to ensure smoother business and customer exchanges.
This is where we propose the integration of our MIDaaS API. It is a secure universal log-in solution. Simply by matching the user identity with their mobile phone, MIDaaS allows them to log-in to websites and applications quickly without the need to remember passwords and usernames. It is safe, secure, and no personal information is shared without permission.
There are multiple ways of validating user identity and data, however, there are certain limitations when we question their security. For instance, emails could be one primary way to validate user identity but there can be multiple accounts of a single user, and neither it has any direct connection to the mobile device. Next comes the device app data which falters on the aspect of security as it is easy to hack and can be subjected to social engineering compromises. Device fingerprinting or the use of biometrics on the other hand could be a crucial one but proves to be insufficient because it gets blocked incessantly for privacy reasons. Thus, it is clear that there is no single identity solution in place which would enable frictionless authentication and authorization
Hence, we recommend MIDaaS and this is how it works:
Enable safe and frictionless authentication and authorization
MIDaaS unified API can multiply efficiency in a number of scenarios where businesses struggle to minimize friction while authenticating and authorizing user data. Some of the common use cases are as follows:
The API helps to validate a phone number ensuring proactive response, security, and data gathering. By integrating the API with the system, businesses can identify problems, maintain quality standards, enhance the customer experience, and improve agent, contact center, and departmental performance.
User Profile Verification
Next time when a customer checks out without any log-in credentials, the API will automatically match the customer details against the mobile and allow a seamless transaction process. Simple to integrate, this adds convenience to your day-to-day business transactions and wherever user authentication is a necessity.
Sim Swap Detection
Mitigate frauds due to SIM Swaps using a unified mobile identity. Especially useful for the banking and the financial industry that deals with a lot of confidential transactions, this can be a value addition. Usually, during SIM Swaps control is transferred to a new device, MIDaaS will be quick enough to detect and report any suspicious behavior.
Identity verification by banks and financial institutes is increasingly moving online. It helps manage risks and understand customers better. MIDaaS acts as a safeguard while data is shared, authenticated, and authorized facilitating a faster KYC.
Quick and cost-effective MIDaaS can authenticate and detect a user’s location. This is beneficial when businesses and enterprises are looking to offer focused services to their customers.
Create a trusted and stress-free customer experience
Minimize the use of fake accounts, fake account detection, SMS hacking, and social engineering frauds with the help of a robust mobile identity.
Create contextual experiences with the mobile personal data through the integration of multiple IoT touchpoints. Use the device as the unique authenticated key and access it from various locations such as home, work, or your car.
Ensure strong privacy controls where the user gives explicit consent before sharing data identity according to the services on opt-ins. The data shared is fully encrypted, securely transmitted and privacy compliant.
Enjoy convenient registration and onboarding with a simplified online user authentication process. No hassles of OTP verification. Log in directly, secure, and faster.
With more businesses going online today, more personal information is exchanged and greater risk of identity theft. This has been a top concern for brands. It is a threat to creating great customer experiences and in turn, affects the goodwill of businesses. While all the companies today are competing for the numero uno position in a customer’s mind, MIDaaS is a one-stop fix ensuring seamless user data authentication and authorization.
To know more about our MIDaaS API and offer an unruffled customer experience, click right here.