(P) The Digital Ecosystem needs Digital Identity. Identity as Code simplifies Digital Partnerships.

With most activities nowadays happening online, new solutions are needed to keep digital identities safe online. Industries like Retail, Financial Services, and Insurance now rely heavily on Digital Identity services as a business enabler for product origination, establishing digital partnerships, user registration, checkout, loyalty campaigns, customer experience enhancements such as passwordless access to one’s account, and digital onboarding. Meanwhile, a Romanian digital business transformation company pioneers a fully automated way to manage digital partnerships.

During the pandemic, account hacking, fraud attempts, or security breaches increased by 70%, which makes the need for digital identity safety even more stringent. Moreover, many companies are now offering their services on different regional markets through several touchpoints & channels, and wish to provide their users the same experience in different countries.

“Identity protection is important and will become increasingly more pressing as companies and individuals continue to move their data to the cloud. Going passwordless is just the first step to securing the digital identity and everything that happens behind the scene is crucial for keeping the identities safe and secure,” says Daniel Coman (in picture below), Manager Digital Trust Assurance with IT Smart Systems.

Providers of digital identity services such as IT Smart Systems are key to companies in banking, retail, fintech, which rely on them for digital identity and access management, digital onboarding, electronic ID (eID) / digital wallet, as well as identity and access management managed services and identity and access management SaaS or in the Cloud. Such companies choose IT Smart Systems as a partner to create next generation Digital Channels.

There is a need for interoperability and a common language that all identity providers and service providers can understand, which are critical to allowing digital identities to be used in a way that is safe and protects the user's privacy.

How does this work? Digital identity uses behavior and reputation patterns to establish an identity footprint and then challenges the identity when this digital footprint changes, such as location, browser, pattern, and path, among others. Through IDaaS, it uses managed Cloud resources to offer digital identities, Single Sign On, and federated access management in a simplified manner that allows businesses to focus on their core offering.

‘At IT Smart Systems, we have built and continue growing a team of experts in implementing complex solutions in the Digital Identity space. We are actively researching the modern standards in this domain to help our partners protect their businesses and their customers from fraud. In the past years, the businesses we are working with have challenges in managing digital partnerships at scale, providing Single Sign On for their workforce or customer, with tens or hundreds of active integrations across SaaS and Cloud services”, said Daniel Coman.