The Challenges & Benefits of a Trusted Mobile Identity

TWO SIDES OF THE SAME COIN. THE CHALLENGES AND THE BENEFITS OF A TRUSTED MOBILE IDENTITY. Number of Global Users (Millions) 2,000 1,800 1,600 More people now use mobile devices than desktops worldwide. 1,400 1,200 Desktop Mobile 1,000 800 600 400 200 2007 2008 2009 2010 2011 2012 2013 2014 2015 CHALLENGES BENEFITS Establishing a trusted Mobile Identity is a challenge for many reasons including, but not limited to: The Benefits of a Trusted Mobile Identity Establishing a persistent Mobile ldentity allows you to onboard legitimate customers, drive revenue and eliminate MOBILE ACCOUNT TAKEOVERS friction in the mobile environment. A cybercriminal gains access to a password-protected account such as a bank account and completes fraudulent transactions. Account takeovers are growing as a percentage of total fraud. Account Takeover Fraud Incidence and Total Fraud Amount by Year Creating a secure Mobile Identity that is resistant to being forged, cloned, spoofed or hacked as well as to hijacking, malware and social engineering so you can gain increased confidence with each transaction. $6 3% $4.9 $5 $3.9 $4 $3.6 2% $3.0 $3.2 $3.1 $2.9 $2 1% $1 0.60% 0.52% 0.41% 0.45% 0.41% 0.33% 0.36% $0 0% 2006 2007 2008 2009 2010 2011 2012 *Significance tested against 2012: Blue significantly lower, Red significantly higher October 2005 through 2012 no. varies, 4,784-5,249 © 2013 Javelin Straregy & Research Source: "2013 Identity Fraud Report: Data Breaches Becoming a Treasure Trove for Fraudsters." Javelin Strategy & Research, February, 2013 Verifying a unique Mobile Identity that is persistent through change events enables you to deliver seamless mobile customer interactions. Once a persistent Mobile Identity has been established, businesses are able to streamline and enable: MOBILE CALLER ID SPOOFING A telephone caller poses as a legitimate consumer or company by fabricating the number that appears on the recipient's caller ID, email, or text message display. Personalization Mobile customer of customer sign-up & acquisition communications 444-4444 555-5555 Daily lifecycle events such as changes in phone number, device, SIM, names or carrier. Consumers travel frequently from device to device and carrier to carrier. Rapid Seamless & secure account access mobile transactions Recycled phone numbers The Wall Street Journal reported that the number of recycled phone numbers was 37 million in 2011 and growing. IDology's ExpectID Mobile allows businesses to establish, maintain and most importantly TRUST mobile identities - gaining a high level of confidence in mobile commerce and significantly reducing friction of legitimate customers. However, establishing a trusted Mobile Identity is more important than ever. Organizations that are able to create, maintain and trust a Mobile Identity will reap the rewards. Sources: http://www.smartinsights.com/mobile-marketing/mobile-marketing-analytics/mobile-marketing-statistics/ http://searchtelecom.techtarget.com/definition/caller-ID-spoofing http://www.wsj.com/articles/SB10001424052970204012004577070122687462582 https://www.idology.com/id-verification/id-verification/ Mitigating Online Account Takeovers: The Case for Education Michelle Castell Retail Payments Risk Forum Survey Paper Federal Reserve Bank of Atlanta April 2013 İDOLOGY Billions in U.S. Dollars 6 of consumers