During the two years of the pandemic, people have changed their purchasing habits and daily activities. Due to restrictions on movement, many businesses switched from physical shops to digital platforms. This market shift influenced how firms provide unique customer service experiences for their clients.
Cyberattacks and fraud are a growing concern due to the increased use of digital platforms. Both consumers and brands want to ensure that online transactions are secure, private, and safe. The answer is simple: Standard authentication such as digital signature API and PSD2, FIDO2, or eKYC are required by all regulatory industries.
This new industry standard has made it easier for people to transact with companies committed to protecting their data. 84% of the respondents to a survey said they would choose a company with clear goals that implement digital signature authentication, especially for cryptocurrency and digital wallet.
Cyber hacking can affect any company, even those with high-security levels. Whether your company is large or small, implementing a FIDO2-certified authentication verification will ensure that the client’s data security is protected and help you be a trusted brand. The following are guaranteed to the users:
- Transact without worrying about privacy
- Use passwords to eliminate vulnerabilities and other inconveniences.
Businesses must quickly adapt to changing consumer behavior. The critical factors to embracing the digital revolution are flexibility in the workforce, automation, customer engagement, and workforce flexibility. Clients only need to be confident that their identities are safe and secure in digital storage.
Authentications such as FIDO2, eKYC, and biometrics enable users to access many services over the internet to make secure transactions.
To help you better understand compliance by companies and its influence on its users, check this blog by LoginID.