Words from the CEO
As digitalization has picked up pace in the financial sector, it is now clear that digital identity will be the next big trend to follow - and we’re prepared. With companies and governments struggling to offer a secure- and seamless ID solution to their customers, fraudulent activities are increasing rapidly as we speak. It has never been more important to protect customers' identities. According to PwC’s Global Economic Crime and Fraud Survey 2022, 46% of the companies had experienced fraudulent activities in the last 24 months. Customers are demanding secure solutions to address these matters. However, customers do not want the high security of the service to interfere with or worsen everyday operations. Companies, banks and governments need to implement good solutions that allow customers to prove their unique identity. Not only in the local market but across the globe. 12iD makes this not only possible, but easy.
Since starting 12iD in 2019, I’ve identified three key takeaways that I think can correlate with our partners:
1. Think Global
In today’s world, nothing can be pinned down to a single-market perspective. Since the evolution of the digital age, everyone is connected and everything will be connected moving forward. By adopting a global mindset to business decisions in everyday operations, you’re more likely to reach new heights and results.
At 12iD, we’re always making sure that every decision we make is taken with a global mindset. That's how we can create an ID solution with scalable blockchain technology to enable the possibility to prove one’s unique identity. Anywhere, anytime!
2. Define challenges here and now, and fix them!
The second takeaway I’d like to share with you is to define the challenges and problems that you’re faced with right now. For 12iD, it might be to always refine functionalities and modules in our eKYC service, or make the 12iD integration as smooth as possible for everyone involved. For our partners, the same challenges might be that usernames and passwords, or insecure OTPs, are the sole protection of the customers’ accounts and services. As these methods are easy to hack, nor prove the identity of a customer, it is important to proactively define these challenges and start finding the solutions to fix them.
3. Competitive advantage is a process
From large companies, banks and financial institutions to smaller fintech companies and scale-ups, one thing remains the same: Competitive advantage takes time. To come out as a winner on the other side, it’s important to start new initiatives sooner rather than later. It’s crucial to be agile and allocate resources to test, assess and evaluate new solutions and concepts that can generate value in a long-term perspective.
The 12iD concept is designed to revolutionize how we perceive digital identity on a global scale. With an innovative business structure to not only connect identity issuers and identity holders with a global ecosystem of services, but also create new revenue streams for our partners.
12iD continues the mission to facilitate our partners with state-of-the-art solutions in the digital identity space. The interest for 12iD has never been higher and it's a great time to join our journey if you haven't already.
Thanks for reading!
