Digital identity is truly established as the most considerable technology trend on the face of the Earth. Consequently, a revolution in how people interact with public and private establishments is in full swing. However, if you’re still wondering what it refers to, identity management implies managing digital identities and ensuring that the right individuals have access to specific resources.
What’s more, you wonder? It’s crucial for protecting fragile data and preventing identity theft. In the same breath, verification, and authentication are two of the imperative components of identity management. Verification is a seamless process of ensuring that a user is who he/she claims to be. Simultaneously, authentication tends to verify that a user has the much-needed permissions to access resources.
While identity management constantly evolves in the modern age, several trends have emerged in recent years, changing how organizations and people approach identity and access management. So, let’s begin with it without further ado.
Trend 1: Biometric Authentication
As the name suggests, biometric authentication processes verify a user’s identity utilizing their distinctive biological traits, comprising iris scans, fingerprints, or facial recognition. In addition, biometric data is then stored and collected in a secure database and compared to an individual’s biometric data during the authentication procedure.
Biometric authentication is safer than conventional methods since it’s based on unique, complex physical features to fabricate or replicate. Traditional authentication methods, such as passwords or PINs, can be quickly stolen, whereas biometric data is unique to every individual and can’t be duplicated.
Thinking about its advantages? They include convenience, increased security, and accuracy. Moreover, users do not have to jot complex passwords or maintain physical tokens when it comes to biometric authentication.
Trend 2: Two-Factor Authentication
Don’t confuse the authentication vs verification explanation. When it comes to 2FA, this trend has to be the most prominent and well-known. While we’re at it, some are new to this front. To begin with, 2FA is a security procedure requiring users to submit a couple of different forms of identification prior to accessing a system. It’s also applicable to specific services and solutions. Combining traditional passwords with additional verification forms, like a fingerprint or security tokens, is usually performed.
Furthermore, such an authentication step offers an additional layer of security, making it relatively difficult for hackers to gain access to your sensitive information or data. Suppose a hacker manages to get through a user’s password. In this case, they would still require a second authentication form to access the system. Nevertheless, 2FA can be cumbersome and inconvenient for specific users, as they must carry around additional devices or take additional steps to verify their identity. This is not just tiresome but frustrating at times. But you know the result.
Trend 3: Identity Verification Through Social Media
Some organizations utilize social media platforms, such as LinkedIn or Facebook, to verify an individual’s identity by establishing their social connections and employment history. This identity verification process can be relatively quick and pretty convenient than traditional processes, as users are not required to submit as much personal data.
Using social media channels for identity verification can be more efficient than other traditional procedures, as users’ information is readily available online. Despite that, there are concerns regarding privacy and the accuracy of the data obtained through social media platforms or accounts. Users might not wish to share their personal details on social media. What’s more? There’s no guarantee that the data obtained is accurate or updated.
Several brands, such as Airbnb and Uber, make the optimum use of social media for identity verification. Meanwhile, Airbnb uses LinkedIn’s authentication step to verify users’ employment history, whereas Uber utilizes Facebook to verify users’ identities.
Trend 4: Blockchain-Based Identity Management
Did you know blockchain-based identity management is a decentralized method using blockchain ledgers to verify and store identity data? This method of identity management is relatively more secure and transparent compared to traditional systems since it is decentralized and tamper-proof.
Moving on, when it comes to traditional identity management methods, they comprise a centralized authority, like a government or financial establishment, to verify and store data. On the other hand, blockchain-driven identity management is decentralized and doesn’t need central authority. This makes it more secure and transparent, as a single entity does not control the data and cannot be tampered with.
Trend 5: Artificial Intelligence in Identity Management
Everyone knew AI would be big in 2023, but no one anticipated it to be this enormous. That said, artificial intelligence is utilized by several individuals and corporate industries to automate and enhance various aspects of identity management, including authentication and fraud detection.
In addition to the previous statement, AI-powered identity management systems can offer a more secure and efficient method as they accurately verify large volumes of identities quickly. This is imperative for industries like healthcare and finance, where timely identity verification and accuracy are crucial for regulatory purposes and compliance.
Looking ahead, it’s clear that the importance of identity management will only continue to grow. As technology evolves and cyber threats become more advanced, there will be a need for even more sophisticated verification and authentication methods. Verification and authentication are imperative components of practical identity management. Whether through biometric authentication procedures, AI-powered identity verification, or social media verification, multiple ways are present to assist individuals and businesses in protecting their sensitive information and identities.