For the two years that the world has been living in the pandemic, consumers have changed their behavior regarding their daily transactions and activities. Because people’s movements are limited due to the mandatory lockdowns, most businesses went from traditional physical stores to digital platforms. This change in the market reshaped the way firms deliver unique customer service experiences to their clients.
But along with the growing use and magnification of digital platforms, risks of cyberattacks and fraud were also a growing concern. Both brands and consumers want to ensure safety, privacy, and security in online transactions. To answer the matter, regulatory industries worldwide require standard authentication like digital signature, PSD2, FIDO2, and eKYC.
User Identity Verification and User Trust
Because of this new industry standard, more people are inclined to transact with companies dedicated to protecting their data and interests. In a study, 84% of its respondents answered that they’d more likely choose a company that understands its goals and makes good regulation and implementation of digital signature authentication when it comes to compliance.
All companies can be vulnerable to cyber hacking, especially those with extensive security. Whether big or small, implementing a FIDO2-certified identification verification will solve the data protection of its clients to become a trustworthy brand. Users can be assured to be given the following:
- transact without worrying about privacy, and
- elimination of vulnerabilities and inconveniences in using passwords.
Comply with Authentication Standards with LoginID
Consumer behavior is an ever-changing landscape that businesses must adapt and adopt quickly. Workforce flexibility, automation, and customer engagement are the critical factors in embracing the tremendous digital shift. On the side of clients, all they need is the assurance that their identities are in good secure digital storage.
Authentications like FIDO2, eKYC, and biometrics allow users to enjoy a myriad of service platforms over the internet for a secure transaction.
To further understand the consumer’s behavior concerning compliance, check out this blog by LoginID.