We are happy to have contributed to a World Economic Forum (WEF) report published today. The report states that reimagining digital identity is a strategic imperative, and that the time to act is now.
As outlined in the report, the current experience for customers when it comes to proving their identity is far from ideal. They face high cost and high friction, and have to assert and reassert identity repeatedly across many silos.
WEF sets out a vision of user-owned and controlled identities, one which we support. They show the value of a new digital identity model, where individual consumers would benefit from convenience, privacy, inclusion, security, agency and autonomy across all of their online transactions.The report goes on to urge C-Suite leaders to engage with user-centric digital identity as a key to creating new business value.
At Onfido, our mission is to create an open world where identity is the key to access. So we welcome this contribution from the WEF as we work towards a future where identity is truly user owned.