AU10TIX is working with Microsoft on Reusable ID, a technology that uses verifiable credentials to enable enterprises to simplify and accelerate ongoing ID verification, reduce customer onboarding costs, automate workflows, and enhance the security of sensitive data.
A strong credential solution that promises cost savings for enterprises and better privacy for users was announced Monday by AU10TIX, an Israeli identity verification and management company.
The firm stated it’s working with Microsoft on Reusable ID, a technology that uses verifiable credentials to enable enterprises to simplify and accelerate ongoing ID verification, reduce customer onboarding costs, automate workflows, and enhance the security of sensitive data.
In addition, it enables users to store their information locally in a tamper-proof digital wallet that gives them control over what information is disclosed to third parties.
AU10TIX explained that verifiable credentials are reusable, unalterable digital credentials that prove the identity of a person or entity and allow the safe sharing of personal documents and biometric credentials.
Verifiable credential architecture also gives users the self-sovereignty to share just the right information on-demand for actions such as opening an account, applying to college, and paying taxes, it added.
“The creation of unalterable digital credentials is important because it enables secure and tamper-proof identity verification,” said Mark Brady, AU10TIX’s vice president for emerging products.
“Digital credentials can be easily altered or forged, posing a significant risk to identity verification processes,” he told TechNewsWorld.
“Unalterable digital credentials ensure that the identity of an individual is verified accurately and securely,” he continued, “which is particularly important in areas such as financial services, healthcare, and government.”Up-Leveling Verification
Digital credentials go beyond a simple username and password by linking a person’s physical self to their digital representation, explained Karen Walsh, the principal in Allegro Solutions, a cybersecurity consulting company in West Hartford, Conn.
“A digital credential might link personal documents, like a social security card or passport, and biometrics, like face ID or fingerprints,” she told TechNewsWorld.
“However, the Reusable ID would give companies a way to incorporate HR documents with these biometrics, ultimately up-leveling verification,” she said.
