Digital Identity Africa Conference 2023

Memo

Navigating The Identity Conundrum in a Digital World The global pandemic has accelerated the rapid digitisation of an array of industries and government services. This increasingly digital economy is incompatible with the over one billion legally unidentifiable people globally. An identification gap has emerged from paper-based approaches which expose identity systems to fraud and data errors. Agile enterprises that invest resources towards developing a digital identity program will be the ones able to respond to the challenges of digital reinvention and the associated security risks. Identity will remain the core of business success at present and into the future. The question of how to thrive through innovation and not only survive remains atop the minds of business and IT leaders thus enabling success in a digital-first environment requires strengthening your security posture by extending visibility beyond the identity perimeter and taking a proactive approach to cyber threats. Businesses that focus on productivity over proactive cyber risk management are inviting opportunistic cyber criminals to infiltrate their core systems. Leveraging digital identity with the aid of biometrics, artificial intelligence and other digital verification methods can significantly reduce synthetic identity fraud, money laundering & scams and ultimately achieve the right balance between security and experience. The omni-present threat of cyber-attacks is an increasing risk within the digital identity landscape. With successful hacks costing a whopping $5 trillion by 2024, establishing and enforcing a robust and adaptable identity security strategy that prevents fraud, improves the governance of data collection and sharing, and protects privacy will be key to your enterprises digital future. Achieving digital identity system interoperability requires dynamic public-private sector collaboration to mutually develop digital infrastructure that allows for greater accessibility of consumer identities and data aided by policies that are an enabler of innovation. Financial service providers ought to be at the forefront of discussions concerning the development of a trusted digital identity ecosystem; carefully designed to accelerate: clearing and settlements, seamless payments processing, open banking, data sharing, credit scoring, In this way financial institutions would be taking a leading role to close the identity and financial inclusion gap whilst their public sector associates should ensure that regulations and the policy landscape enables business innovation whilst safeguarding consumers who increasingly want greater transparency and control over their personal data. It is within this backdrop that the Digital Identity Africa Conference has emerged as the leading business engagement platform for policymakers, solution providers, financial enterprises and industry commentators to network whilst sharing their experiences, knowledge, best practices and generate a path towards collaborating on developing South Africa’s future digital identity ecosystem. Visit: www.digitalidentity-africa.com for more event info #digitalidentity #digitalidentities #iam #cybersecurity #cybersecurityawareness #infosec #biometrics #payments #digitalbanking #4ir #artificialintelligence #data