The Better Identity Coalition today released “Better Identity in America: A Blueprint for Policymakers,” a report that outlines a comprehensive policy agenda for improving the privacy and security of digital identity solutions. At an in-person event today, July 19, on Capitol Hill, coalition representatives will present the recommendations and a panel will discuss the findings.
The report outlines five key initiatives:
- Prioritize the development of next-generation remote identity proofing and verification systems.
- Change the way Americans use the Social Security Number.
- Promote and prioritize the use of strong authentication.
- Pursue international coordination and harmonization of identity standards.
- Educate consumers and businesses about better digital identity solutions.
$16.8 billion was lost in the United States due to identity fraud in 2017 – a year in which the nonprofit Identity Theft Resource Center reported a 44.7% increase in the number of data breaches. While the market has responded with an array of products that aim to address the identity challenge, they are inconsistent in accuracy and reliability, and therefore are increasingly placing consumers and businesses at risk.
The Better Identity Coalition has brought together leading firms from different sectors of the economy to create a set of consensus policy recommendations to address these inadequacies — with a focus on solutions that empower consumers to protect their identity online.
“This white paper establishes a road map for policymakers on the critical issue of consumer identity and authentication. Improving customer experience, ensuring privacy and reducing the fraud that affects businesses and consumers are critical issues that Symantec addresses every day. We’re very pleased to be a member of the Better Identity Coalition and are excited about the recommendations made in this report,” said Nico Popp, senior vice president of Symantec.
Launched in February 2018, The Better Identity Coalition is focused on developing and advancing consensus-driven, cross-sector policy solutions that promote the development and adoption of better solutions for identity verification and authentication. The variety of transactional services available online is greater than ever before, but with this advancement comes the challenge of proving consumer identity, leading to an increased risk of fraud and theft.
“Identity verification and authentication is a societal issue. Only with cooperation and guidance from private industry and policymakers may we rebuild consumer confidence and therefore trust in any transaction that takes place online,” noted Debbie Guild, chief security officer of The PNC Financial Services Group, Inc., in her keynote at the Capitol Hill event.
The report can be downloaded from the Better Identity Coalition website: www.betteridentity.org.
The Better Identity Coalition is an organization of leading businesses focused on developing and advancing consensus-driven, cross-sector policy initiatives that promote the development and adoption of better solutions for identity verification and authentication. The coalition was launched in February 2018 by the Center for Cybersecurity Policy and Law, a nonprofit dedicated to promoting education and collaboration with policymakers on policies related to cybersecurity.
Coalition members include Aetna, Bank of America, Citigroup, IDEMIA, JPMorgan Chase, Kabbage, Mastercard, Onfido, PNC Bank, Symantec, U.S. Bank, Visa, and Wells Fargo.