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Yoti, Mitek and Synectics launch pilot to fight digital ID fraud with shared signals

POC intended to boost mainstream adoption of digital identity
Yoti, Mitek and Synectics launch pilot to fight digital ID fraud with shared signals
 

A pilot project to show the feasibility of real-time fraud intelligence sharing described as ‘first-of-its-kind’ by Synectics Solutions has been launched in partnership with Mitek and Yoti.

The shared signals pilot is a proof-on-concept initiative dubbed ‘Project Shield.’

During Phase 1 of the pilot, Synectics’ National SIRA platform provides the dedicated digital pathway along which specific signals will be shared by Yoti and Mitek to test data that can help identify fake or fraudulently obtained ID documents. Yoti and Mitek will use the platform’s real-time API and asynchronous alert system, and the same platform is currently used by banks. The data shared will include information on compromised credentials, accounts, and identities.

John Abbott, chief commercial officer at Yoti comments: “While this is a relatively simple test scenario, it will potentially show how collaboration between Identity Service Providers can create a cohesive, shared framework which can identify and prevent fraud. We’re pleased to be part of this important project and play our part in protecting individuals from the growing risks of fraud.”

“At Mitek, we’re fully committed to advancing solutions that fight fraud and the many forms it can take,” adds Chris Briggs, senior VP of Identity at Mitek. “We also realize that in an increasingly digital world, the ability to prevent the spread of fraud across a Digital ID ecosystem will require cooperation and communication across identity service providers. That’s why we’re excited to help Synectics pioneer a solution that would support the many relying parties who use our services in their efforts to tackle financial crime and improve the customer experiences they offer. We know this will also be good news for members of the public who want to simplify their online interactions without compromising on security.”

Shared signals are widely supported as a way to improve the security of digital identities against fraud. They are also expected to be required under the UK Digital Identity and Attributes Trust Framework (UKDIATF), according to the announcement.

Protecting those signals from data theft, related privacy concerns, and standardizing the sharing format and process are among challenges that the partners have set out to meet with the POC.

“Our aim with this initiative,” explains Synectics’ Head of Solutions Chris Lewis, “is to demonstrate that these concerns can be addressed, allowing certified Identity Service Providers to confidently leverage the significant benefits of shared signals to fight fraud in an increasingly digital era. Protecting their customers and ultimately the general public.

“To do this, we’re blending the real-time awareness benefits associated with a fraud signals framework, with the longer-term fraud prevention implications of a shared threat intelligence platform where data persists beyond the immediate threat.”

Lewis emphasizes the benefits of mainstream digital identity adoption, including easier customer journeys and improved financial inclusion.

Yoti first integrated Synectics’ technology back in 2019 to help in its fight against fraud, and supports its shared solution offered with the UK Post Office.

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