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CHIEF PRODUCT & MARKETING OFFICER Jose Caldera has been developing and marketing products for the last 20 years. An entrepreneur at heart, his focus has always been on the Enterprise, developing products and services for Information and Payments Security, Risk Mitigation and Compliance. He started in application and network security, later moving on to payments, virtual currencies, anti-fraud, and anti-money laundering. He has developed and marketed products for a number of silicon valley companies including Securify, McAfee and now IdentityMind Global. Jose earned a Masters of Science in Information Networking from Carnegie Mellon University.

The KNOW Identity 2019 conference is the identity industry’s flagship conference. Presented by One World Identity, KNOW brings more than 1,500 attendees, from over 500 companies around the world, together in Las Vegas. KNOW boasts a unique combination of leaders in the cybersecurity, trust & safety, and compliance fields to present their takes on identity. With the conference only a few days away, we wanted to provide you with the sessions that we found most interesting.

1. Master Class: Why Digital Identity?

March 24, 1 – 2 p.m.

Introduction by Claire Maslen, CMO, Consult Hyperion

Presenters: Stu Vaeth, Digital Identity at Mastercard, Thayer Stewart, PaymentWorks, David Birch, Hyperion

The opening session for the conference on Sunday, March 24 is perhaps the most meaningful discussion to have around digital identities: Portability. Companies spend millions of dollars in dealing with their clients, yet most of the analysis and information around them gets lost, businesses end up duplicating efforts and costs across the organization, performing the same analysis over and over, and not informing each other with the results and the analysis. A digital identity should be a construct that enables reusing and sharing the value of validation, analysis, behaviors, and more.

When we, at IdentityMind, designed our (patented) Electronic DNA™ (eDNA™), portability was one of the fundamentals tenets. Enabling the use of the identity across the organization and supporting multiple use cases was key to the implementation of digital identity. As we ventured into risk and compliance applications, portability began to take on yet another fundamental aspect: Regulations. The KYC (Know Your Customer) regulatory process doesn’t yet allowed for porting identity validations and overall identity proofing when stored in the digital construct. That is changing as the market begins pushing back on overall costs.

The IdentityMind “Trusted Digital Identities” white paper explains how to provide a great online experience for your clients while reducing risk and maintaining compliance. Download the IdentityMind white paper here.

The topic of portability will be covered in multiple sessions at KNOW 2019.

Follow up with these sessions:

  • Master Class: 3-Domain Identity Model (3DID) hosted by Consult Hyperion
  • SSI 201: A Deep Dive on Hyperledger Indy and Sovrin hosted by Drummond Reed, Chief Trust Officer of Evernym

2. Fireside Chat: State of Identity on the Ethical Data Economy

March 25, 10:45 – 11:30 a.m.

Presenters: Fatemah Khatibloo, Forrester, Cameron D’Ambrosi, OWI, Sheila Colclasure, LiveRamp

Data privacy, and particularly identity data privacy, is on everybody’s mind. With GDPR in full effect, and similar laws being enacted in many other countries, companies that manage and sell data are struggling to understand how data privacy should be implemented. Many businesses confuse the ability to draw conclusions and services from data, and the need to store all data. Many — perhaps too many — businesses store everything with the somewhat misguided pretense that you need ALL data to improve customer experience and services. This is why most identity data has been compromised in the last few years through data breaches and the monetization of identity data for fraud and money laundering.

Privacy by design is a practice. Businesses need to ask themselves why they need the data and what services they’d like to provide. You can store constructs of identity data that are private and protected at the data model level, both on its definitions, and in how they are accessed. At IdentityMind we have a database of digital identities that serve risk and compliance applications. We could put our database on the Internet and no identity will ever be compromised. The reason is simple: you don’t need to store identity details to evaluate risk. Anyone that tells you otherwise has not thought through the details, and does not have privacy at the forefront of their principles.

Since its founding, IdentityMind has been very focused on data privacy. Read our article, “Respect for Consumer Privacy as a Practice” to learn more.

Follow up with these sessions:

  • Shifting the Business Paradigm for Data and Privacy with a Race to the Top
  • Master Class: IAM at the center of the security equation
  • Moving Beyond Data Lakes: The Cost-Benefit Analysis of Privacy by Design

3. How To Trust a Stranger: Building for Trust in Digital and Physical Interactions

March 25, 11:45 – 12:30 p.m.

Presenters: Mary Haskett, Blink Identity, George Zhang, Uber, Joseph Asaro, StubHub, David Thomas, Evident ID, Paolo Parigi, Airbnb

A few years back, as we ventured into the marketplace with our digital identity platform, it felt like we were always educating our prospective clients. We still do, but to a much lesser extent, in part thanks to forums like OWI and the KNOW conference. The subject of trust and its implications on shared economies for risk are well understood at each company level. But, the portability of that concept beyond an organizations’ walls is far more complex. Someone could be a well-rated driver, for example, but that may or may not indicate how trustworthy that individual is to make loan payments.

Is there a universal concept of trust that can be used across multiple applications?

The highest level of reputation in the IdentityMind platform is labeled “Trusted,” and there is a reason for that. We knew from the very beginning that it is not sufficient for an identity to be proofed or validated; the question should be, can it be trusted? In the IdentityMind platform, an identity with a trusted reputation is accurate 99.97% of the time across our client base. That means that only in 0.03% of cases, those identities may be associated with some form of risk. That’s an incredibly strong, positive statistic.

Our concept of trust seems to work well across multiple use cases associated with risk and compliance, but all are focused on financial transactions, account creation, and eCommerce. We will continue exploring beyond these areas as our digital identity platform continues to evolve.

Download the IdentityMind “Digital Identity Evaluation Guide,” which provides you with a framework to help you think through your customer onboarding process with a focus on the functionality and the identity checks that help you achieve it.

Follow up with these sessions:

  • Shared Data in a sharing economy

4. Friction is the New F-Word

March 25, 1:30 – 2:15 p.m.

Presenters: Jose Caldera, IdentityMind, Ron Atzmon, Au10Tix, Louis Gasparini, Covault, Izabella Zhu, United Business Bank, Jasvinder Randhawa, PricewaterhouseCoopers

Given that I’ll be speaking at this panel, I feel compelled to promote it, but for good reasons. It is true that the cost of compliance continues to go up, partly because regulations are becoming more strict, and enforcement actions can be costly when compliance processes aren’t carried out as they should be. There is also a hidden cost in what online applications call “customer abandonment.” If you can’t onboard a customer, then you’re losing money. In the online world, user experience is everything; customers know they have choices at their fingertips, and if the application presents too much hassle, they can turn around quickly to another service provider that has a better user experience. Therefore, the more friction you introduce into your onboarding process, the higher your rate of customer abandonment will be, and the less customers you’ll have.

Selling our Anti-Money Laundering (AML) and Know Your Customer (KYC) solutions has taught us that the best approach is to have the product people (business people), compliance/risk officers, and development/engineering at the table. Each of them has distinct requirements that need to be met, that can be met, without jeopardizing the user experience. At the end of the day, they are all interested in ensuring that their businesses thrive, and it is possible to define a user experience that makes all of them happy, while meeting compliance regulations, too. At IdentityMind, we’ve done this with our clients successfully over and over again. So, don’t fuss over friction, and design products and user experiences with all requirements in mind.

Join me, Jose Caldera, at this session, “Friction is the New F-word” on March 25 from 1:30 to 2:15 p.m.

Follow up with these sessions:

  • Saner, Safer Onboarding
  • Digital Identity Design and Customer Experience
  • What the Friction? Building consumer trust with transparency and a sense of security

5. Anatomy of a Fraudulent Identity

March 26, 1:30 –2:15 p.m.

Presenters: Sam Jackson, Neustar, Bala Krishnamurthy, iovation, Robert Prigge, Jumio, John Dancu, IDology, Ken Meiser, ID Analytics

Certainly a topic that is top of mind to us all in this space. Identity fraud is complex and varied, synthetic identities and account takeovers (ATO) are two attack vectors that are very much affecting the market, and driving risk and compliance officers to invest in different technologies.

Three of the panelists are from our partner ecosystem: Neustar, Idology, and ID Analytics. We understand the value of their services to help our clients protect against identity fraud. The use of our digital identities platform is augmented by their work in these areas, our clients benefit from all of them.

Take a look at how our platform addresses ATO and Synthetic Identities:

IdentityMind 2018 FinovateSpring Demo on Synthetic Identities

Follow up with this session:

  • Stepping up your fraud prevention game

If you’re also heading to KNOW Identity 2019, you can find us on booth #107.

Catch our CMO, Jose Caldera, on the session for “Friction is the New F-Word,” on March 25, 1:30 – 2:15 p.m.

We are proud to be a Platinum Sponsor of KNOW Identity 2019.