Digital Identity , Fraud Management & Cybercrime , ID Fraud
Identity Market Likely to Consolidate in 2022Peter Tapling on How Benefits Funds Caused the Market to Evolve
In 2022, there will be a push for identity management capabilities that are behind the scenes and built into processes, says Peter Tapling, a member of the Board Advisory Group for U.S. Faster Payments Council.
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"The move to digital will continue to drive innovation in the way people will manage identities. We will see more identity activities dive deep into a transaction life cycle and a normalization of identity tools," says Tapling. He also predicts that overinvestment in identity will normalize a bit.
Tapling thinks the benefits funds played a big role in digitization. "While we were moving quickly to get the money in the hands of people who needed it, we were also making a massive move to all digital, and that was new to everybody."
In a video interview with Information Security Media Group, Tapling also discusses:
- Identity lessons learned from benefits program fraud;
- The problem of securing digital identities;
- How the identity market will take shape in 2022.
Tapling is a board member at the U.S. Faster Payments Council. He is also the managing director of PTap Advisory LLC, a services firm that helps organizations understand technology in terms that can help support their business strategy. He was the founding CEO of Authentify, the company that introduced out-of-band authentication to financial services.