Identity and verification in the digital age: Where we are today and what the future could hold

Abstract

Thanks to the internet, the digital economy has changed the way people shop forever. However, this convenience has come at a price. In the effort to improve convenience and ease of use, financial and personal data have become exposed. This paper considers the identification and verification processes that have become necessary to allow digital transactions, and how upcoming developments, such as biometrics and machine learning, can impact the future and complement current identification and verification methods, like password and personal identity numbers, to strengthen data security.