Digital identity has firmly established itself as the most significant technological trend on the planet. As a result, a revolution in how individuals engage with public and commercial institutions is underway. If you’re still wondering what it means, identity management entails maintaining digital identities and ensuring that the correct people have access to the proper resources. What’s more, you may be wondering? It is critical for safeguarding sensitive data and combating identity theft. Similarly, verification and authentication are two critical components of identity management. Verification is a smooth procedure that ensures a user is who he or she claims to be. At the same time, authentication ensures that a user has the necessary rights to access resources. While identity management is continually evolving in the modern day, various trends have developed in recent years that have changed how companies and individuals approach identity and access management. So, without further ado, let’s get started.
Here is the list of 5 Trends in Identity Management
- Biometric authentication
- Two –factor authentication
- Identity confirmation via social media
- Blockchain-based identity management
- Identity Management Using Artificial Intelligence
Details are here for best 5 Trends in Identity Management
Trend #1- biometric authentication
Biometric authentication techniques, as the name implies, validate a user’s identification by exploiting their unique biological qualities, such as iris scans, fingerprints, or face recognition. Furthermore, throughout the authentication method, biometric data is kept and gathered in a secure database and compared to an individual’s biometric data.
Biometric authentication is more secure than traditional techniques since it is based on unique, complex bodily traits that are difficult to fabricate or copy. Passwords and PINs, for example, may be easily stolen, but biometric data is unique to each individual and cannot be replicated.
Trend #2- Two –factor authentication
Avoid confusing authentication and verification. This is the biggest 2FA trend. Some are fresh to this front. First, 2FA requires users to provide two forms of identity before accessing a system. It applies to certain services and solutions. Adding fingerprints or security tokens to passwords is common.
An additional authentication step makes it harder for hackers to access critical data. A hacker breaks a user’s password. To access the system, they would need a second authentication form. 2FA requires users to carry extra devices or take extra steps to prove their identity, which might be inconvenient. This is exhausting and annoying. You know the outcome.
Trend #3- identity confirmation via social media
Some firms use social media sites like LinkedIn or Facebook to authenticate an individual’s identification by determining their social connections and job history. Because users are not forced to input as much personal data, this identity verification procedure may be relatively quick and convenient.
Because individuals’ information is readily available online, using social media channels for identity verification may be more efficient than other traditional techniques. Nonetheless, there are issues about privacy and the veracity of data received via social media platforms or accounts. Users may not want to post personal information on social media. What else? There is no assurance that the information acquired is correct or up to date.
Trend #4- blockchain-based identity management
Did you know that blockchain-based identity management is a decentralized technique for verifying and storing identity data that use blockchain ledgers? Because it is decentralized and tamper-proof, this type of identity management is more secure and transparent than traditional methods
Moving on, traditional identity management solutions rely on a centralized authority, such as a government or financial institution, to authenticate and maintain data. Blockchain-powered identity management, on the other hand, is decentralized and does not require central authority. This increases security and transparency because the data is not controlled by a single party and cannot be tampered with.
Trend #5- Identity Management Using Artificial Intelligence
Everyone expected AI to be big in 2023, but no one expected it to be this large. Nonetheless, some people and business industries use artificial intelligence to automate and improve different elements of identity management, such as authentication and fraud detection.
Furthermore, AI-powered identity management solutions can provide a more safe and efficient manner by precisely verifying massive volumes of IDs fast. This is critical in businesses like as healthcare and banking, where quick identity verification and accuracy are critical for regulatory and compliance purposes.
Conclusion
Looking ahead, it is apparent that the significance of identity management will only expand. As technology advances and cyber threats become more complex, more sophisticated verification and authentication mechanisms will be required. Identity verification and authentication are critical components of effective identity management. Individuals and corporations may secure their sensitive information and identities in a variety of methods, including biometric authentication protocols, AI-powered identity verification, and social network verification.
