Industry executives and experts share their predictions for 2023.  Read them in this 15th annual VMblog.com series exclusive.

How Biometric Authentication and Verification will Revolutionize Security

By Ricardo Amper, CEO and Founder of Incode

With digital transformation on the rise, users are increasingly required to keep track of an overwhelming number of passwords and ways to protect not only their data, but their identity. Organizations are combatting spoofing and identity fraud through biometric digital identity verification. Utilizing artificial intelligence technology and biometric data that's unique to each user, new identity verification and authentication will illuminate a new direction for users securing their sensitive accounts across a multitude of industries.

As the CEO and Founder of a next-generation identity verification and authentication platform for global enterprises, here's what I expect is on the horizon for 2023:

No more passwords - using biometric authentication when logging into critical accounts

In 2023, more people will protect their critical accounts with methods other than logins and passwords. When creating accounts, they will provide multiple factors such as biometrics, government-issued identity documents, and information from reliable sources to prove their identities. When authenticating access to these accounts, they will use biometrics, providing more security for their private data.

Investing in AI to combat fraudulent and synthetic identities

In 2023, fraudsters will devise new ways to hack into accounts, including new ways to spoof biometrics, new ways to create fraudulent identity documents, and new ways to create synthetic identities. Organizations will need to invest in artificial intelligence (AI) and machine learning (ML) anti-fraud technology to counter new attack vectors and effectively fight fraud as hacker methods evolve.

Biometrics for blockchain

In 2023, more organizations will adopt various types of blockchain technology, ranging from acceptance of cryptocurrencies to use of distributed ledgers to distribution of non-fungible tokens (NFTs). In all of these use cases, the ability to positively verify the identities of people will become critical. To meet demand and keep customers secure, organizations using blockchain will need to invest in technology that reinvents the way they verify and authenticate their customers' identities, protects user privacy and security, and complies with government regulations.

Private and secure age verification

In 2023, more businesses and industries will seek ways to verify the ages of people without compromising their privacy. Older age verification methods require people to hand over their driver's licenses, which contain a wealth of personally identifiable information (PII) that does not need to be handed over to club bouncers, liquor store clerks, and casino workers. They don't need to know your full name, your address, or your height and weight; they simply need to know whether you are old enough to purchase the products or services they offer.

Improved, seamless customer experience

In 2023, more and more businesses, including banks, hotels, airlines, and retail establishments will seek to reward loyal customers and improve service without creating onerous experiences for the customers. Some older customer verification and authentication methods include unnecessary friction, and some potential customers abandon the process as a result. Verification and authentication methods that automate the process as much as possible, simultaneously providing accuracy and ease of use will become more popular. Properly verified and authenticated customers can withdraw funds, enter hotel rooms and airplanes, and purchase goods with a simple face glance.

Turning to Biometrics to secure healthcare data

In 2023, medical personnel and patients will seek better ways to deliver and receive services while protecting privacy. Identity verification and authentication solutions will become more attractive to hospitals and health service providers as they aim to provide secure data access to the right people, while blocking the wrong people from accessing health data.

To sum it up

Increasingly high stakes for protecting user data and privacy mean passwords are becoming a thing of the past. Biometric authentication technology is a force to be reckoned with, offering a more secure, personalized user experience, while still keeping privacy intact.

##

ABOUT THE AUTHOR

Ricardo Amper, CEO and Founder of Incode Technologies

Ricardo Amper is a Mexican businessman and CEO of Incode Technologies, a company founded in Silicon Valley, San Francisco. Incode is transforming the digital identity industry by reimagining trust and the way people verify their identity. Using artificial intelligence (AI), Incode has built a digital identity verification platform that is highly secure, reliable, and accessible to all.  Incode works with the world's largest banks, financial institutions, governments, hotels, retailers, stadiums, and other industries around the world to create secure, seamless experiences. In 2021, it announced a $220 million Series B funding round, which has launched the company to unicorn status with a valuation of $1.25 billion. 

A big data developer with a passion for technology, Ricardo has over 20 years of experience as a serial entrepreneur and founder of companies across multiple industries. 

Ricardo is a proven visionary leader focused on results. In 2000, he founded La Burbuja Networks, a social media company. Three years later, he co-founded Amco Foods, which was later acquired by Grupo Bimbo (MEXI: BIMBO). He then became CEO and CTO of Grupo Amco, a chemical product distribution company. After repositioning and reinvigorating the business by developing proprietary big data and machine learning systems, he sold the business to Brenntag (IBIS: BNR). 

Ricardo currently lives in San Francisco, where he seeks to continue implementing its vision of One Identity Everywhere and be able to revolutionize the identity industry and promote trust around the world.