Digital identity has become an invaluable asset, where technological trends are rapidly evolving to offer more robust and secure solutions. At the heart of this revolution stands Facephi, leading the way towards digital identity protection and verification. In what follows, we take a look at some of the key trends that will define the digital identity security landscape in 2024.
Hybrid and multi-cloud environments: The IAM infrastructure as an identity fabric
The increasing use of hybrid or multi-cloud environments is transforming the way we approach identity and access management (IAM). The IAM infrastructure is becoming a versatile identity fabric that supports a variety of use cases for all types of entities. Facephi, noticing this trend, is adapting its solutions to provide comprehensive support in both hybrid and multi-cloud environments, providing users with a secure and fluid experience in any type of environment.
Identity fabric: Continuous authentication
Identity and access management (IAM) handles the integration of authentication with continuous behavioural analysis and risk detection technologies into the identity fabric. On the other hand, the morphological characteristics of the identity fabric allow the implementation of generative models (GenAI) and ML-based models (Machine Learning) to extract insights and detect fraud. Identity and access management is one of the key concepts highlighted by Gartner in its 2023 Market Guide for Identity Verification in which Facephi is named as a leading supplier.
Integration of portable identities and reusable identities: The new frontier of AM
The integration of portable digital identities and reusable identities is transforming Access Management (AM) practices. This trend offers features that encompass both centralised and decentralised digital identity management (DCI) options. Formerly known as “bring your own identity” (BYOI), the integration of Portable Identity represents a shift towards more fluid and adaptive identity management.
Wallet: For digital identity management
Digital wallets are diversifying beyond managing digital assets and financial transactions to include digital identity management. Europe is pioneering this with the EU Digital Identity Wallet, set to significantly influence citizens‘ interaction with public services. Meanwhile, the rest of the world is also exploring various alternatives ranging from centralised, decentralised, hybrid, ISO standards-based proposals (e.g. ISO/IEC 18013 or ISO/IEC 23220) or proposals based on verifiable credentials (VCs) and decentralised identifiers (DIDs).
AI: Trust in digital identity management
AI is a key part of trust-based digital identity management. We look at AI-based models for fraud detection. In the latter case, implementations are given to analyse the contextual information of interactions in identity webs in order to detect anomalous behaviour. In addition, we can identify Generative AI (GenAI)-based models used to extract actionable information or highlight potentially fraudulent transactions. In 2024, Facephi will continue to implement AI models across its entire range of operations, to ensure security in the management of digital identities.
Facephi is keeping abreast of the trends that will shape 2024 in the field of digital identity protection and verification. From adapting to hybrid and multi-cloud environments to integrating portable identities and implementing wallets. Facephi is committed to delivering cutting-edge solutions that not only protect, but also enhance the user experience in the ever-changing digital landscape.