Kevin Vreeland, General Manager US and Canada at Veridas explores how identity technology with anti-spoofing capabilities can bolster the security of access in both physical and digital scenarios.

Protecting identities

Our identities are the key to accessing many online and physical services, financial transactions and personal interactions.

However, the old methods of protecting these “identities” (passwords and ID cards) are no longer sufficient, especially considering that Generative AI is expected to magnify the risk of deepfakes and other fraudulent activities.

That’s where identity technology with anti-spoofing capabilities becomes a game changer to transform how we secure, manage and use our digital identities.

Combating fraud and deepfakes

AI is a double-edged sword.

Generative AI seemingly offers endless potential to magnify both the nature and scope of fraud against institutions and their customers; it’s limited only by a criminal’s imagination.

Deloitte’s Financial Services Center predicts that AI could enable fraud losses to reach $40 billion in the US by 2027, up from $12.3 billion in 2023, rising at a compound annual growth rate of 32%.

AI has led to the emergence of a new threat: deepfakes.

These realistic-looking videos or audio recordings can be manipulated to make someone appear to say or do something they never did, potentially fooling facial authentication or voice authentication systems.

Deepfakes pose a serious threat, with reports indicating a staggering 31-fold increase in deepfake attacks between 2022 and 2023, particularly targeting the financial sector.

Experts predict the emergence of even more sophisticated deepfakes in 2024, known as “digital doppelgangers.”

This technology combines deepfakes for voice and real-time video, creating nearly identical replicas of individuals.

These could be used for sophisticated scams like video catfishing and payment frauds.

A bridge between the physical and digital worlds

While deepfakes pose a significant threat, advancements in facial and voice authentication, particularly those recognized by NIST and iBeta for their anti-spoofing capabilities, offer a powerful defense.

These award-winning identity technology solutions go beyond simply analyzing static images or voice recordings.

NIST and iBeta certifications highlight the effectiveness of these technologies in detecting liveness, ensuring the user is physically present during authentication.

This multi-layered approach makes facial and voice authentication a strong weapon in the fight against deepfakes.

When security meets user experience

Beyond security, identity technology also simplifies the user experience.

Biometric authentication methods like facial authentication with anti-spoofing capabilities eliminate the need to remember complex passwords or carry physical IDs, making it easier to access devices, applications and services.

This convenience translates to a smoother and more enjoyable user experience, especially when authentication is done frequently.

Compliance with data protection regulations like GDPR, AIA and CCPA is also key to building trust and ensuring personal data is handled responsibly.

Following industry standards set by organizations like NIST ensures transparency and accountability in data collection, storage and usage.

Identity technology across industries

Identity technology with anti-spoofing capabilities is not limited to one industry; it’s applicable across many sectors and how we interact with the physical-digital (phygital) world.

In the banking and financial sector, the utilization of biometrics can significantly reduce the possibility of fraudulent activities.

Voice recognition may be used to identify a customer’s details during transactional activities on the phone, while facial recognition can help customers to access ATMs, open accounts and check transactions, to prevent unauthorized account withdrawals.

This technology can also help protect financial sites such as online banking since it does not require passwords, identifications are used instead.

Another area is healthcare, which is certainly a promising field for identity technology to contribute to patients’ data protection and privacy.

Research has indicated that voice and facial recognition technologies can also minimize the chances of wrong prescriptions and protect patient data.

In addition, these applications can improve patient intake and appointment time management, promoting patient satisfaction.

Identity technology also benefits the insurance industry and can prevent what is referred to as family fraud, whereby the caller claims to be a member of the family with full access to the information of the account holder.

These solutions also have an exceptional approach to underwriting insurance cycles and claims processing overall, increasing effectiveness.

In the area of stadium and venue access, identity technology can play a role in not just making the space more secure but equally making it faster for guests to access specific areas.

Biometric authentication for ticketing management also makes it easier to admit attendees by optimizing points of access to minimize congestion, working together with analog and digital ticketing systems.

Identity technology is also very effective in other corporate legitimate entrees, but one of the primary ones is access control.

Having control of physical access, facial recognition can open or deny entry to any offices, rooms or secure areas of a building if necessary.

It also can protect the company from potential threats while making recruitment and staffing procedures more streamlined and allow authorized personnel to access the company’s databases and information from anywhere in the world.

The future of identity

Identity technology with anti-spoofing capabilities will change the way we interact with the digital world.

By prioritizing security, user experience and responsible implementation, identity technology can make identity a valuable asset, innovation, trust and a more seamless digital experience for all.