The 1Kosmos Customer Advantage
New Account Origination
A verified digital identity blocks fraudulent identities up front and delivers legitimate customers an elegant, digital experience – not a one size fits all journey, but one that is configurable and delivered through either an app or appless experience matched to risk tolerance.
Self-service identity proofing backed by AI and machine learning coupled with instant verification by AAMVA, ICAO and others can help deliver high decisioning accuracy reducing synthetic identity fraud with minimal manual reviews.
Frictionless Access to Accounts
The digital identity wallet transforms one-time identity proofing from an expense into an asset that pays dividends every time a customer logs in, requires step-up authentication or simply wants to apply for a new service online. After account origination, digital matching of a user’s real biometric to the enrolled identity provides quick and convenient MFA access at every login or authentication request.
Privacy and Compliance
Distributed digital identity manages identity as an asset, placing all user personally identifiable information (PII) under public-private key pairing controlled by end users and removing centralized user stores accessible by administrative users. There are no passwords to steal, no hackable user store to attack, and an immutable record details all updates and transactions.
Elimination of Fraud and Account Takeovers (ATO)
With digital identity, verification of identity is built by validating government-issued IDs against live biometrics and issuing authorities to ensure liveness and accuracy. When performed on a platform certified to NIST 800-63-3, organizations can deliver certified compliance to KYC and AML guidelines, reducing account and synthetic identity fraud.
This makes every login or step-up authentication a modern multi-factor authentication that verifies identity to the enrolled identity, every time, shutting down credential-based account takeover and fraud.
By placing a customer’s verified identity in a portable and verified digital identity wallet, distributed digital identity gives enrolled users powerful new ways to apply for and use new online services. This empowers customers to easily share their previously verified identity when registering for new products or services, eliminating the need for re-verification.
Less friction drives higher customer satisfaction, higher lifetime value and improved business agility if the organization needs to adjust to conditions via different combinations of goods and services.