Introducing My Digital ID from Acuant | Debuting in Microsoft Azure AD Verifiable Credentials
April 6, 2021
Verify Once, Use Everywhere
As announced at Ignite, Microsoft is breaking ground to introduce verifiable credentials in Azure Active Directory, encouraging the adoption of a Zero Trust approach in the wake of today’s increasing fraud landscape. Acuant was chosen as one of the few select leaders in identity verification with the goal to improve verifiability, providing a swift, secure and scalable experience while protecting privacy for businesses, employees, contractors, vendors, and customers.
Outdated Technology Leads to More Fraud & A Poor User Experience
Despite technological advances, countless businesses continue to put themselves and their customers at risk by depending on more traditional and outdated forms of authentication. Insecure forms of identity proofing, including knowledge-based authentication (KBA) and passwords, are cumbersome and hackable. A good amount of the information can be found by fraudsters online and in many cases, respondents can’t remember their answers or passwords causing undue friction. KBA replacement and going passwordless are trends that offer more security and more convenience.
We also know the world is going digital, and we need technology that is wherever you want to transact. But we are still addressing the gap between the physical and digital when it comes to identity. Acuant’s technology allows businesses to bridge this gap, be where customers are and how they want to transact – while protecting against the most prolific types of fraud today including synthetic fraud, elder abuse and muling.
Verifiable Credentials in Microsoft’s Azure AD
The introduction of verifiable credentials in Azure allows businesses and users to establish trust without sacrificing data privacy, changing the way we grant permissions to access information. With My Digital ID by Acuant, we are joining the directory to help redefine identity verification and put users in control. Our instant multi-factor authentication credential facilitates frictionless onboarding, eliminates security concerns and protects the personal data and privacy of users, all in one digital wallet. This will be in the Microsoft Authenticator app and other wallet apps that support open standards.
Businesses and organizations will be able to instantly and seamlessly issue digital credentials based on open standards. As Microsoft notes: Individuals get more control over what information they share with whom, and they can restrict access to that shared information at any time. They only have to verify a credential once to use it everywhere.
My Digital ID in Azure AD verifiable credentials is now in public preview. Please register here to see our demo and learn more.