Identity resolution remains a significant problem for financial institutions. Identification solutions employed today are cumbersome and have a bad actor identification rate as low as 2% and a false positive rate over 80%. As customer interaction becomes increasingly digital, identifying and authenticating customers is becoming more complex.
Distilled IDENTITY™ can provide the solution.
What is Distilled IDENTITY™?
Distilled IDENTITY™ is a continuous predictive authentication solution. We base it on Social Physics, a leading edge computational social science developed at MIT. It shows that human activity data, captured from people’s daily digital traces, can accurately and continuously determine identity.
How does Distilled IDENTITY™ work?
Distilled IDENTITY™ analyzes and extracts patterns out of human activity data (i.e. geocoded payment transactions and mobility) to derive Predictive Identities that are unique and more difficult to fake than conventional methods of identification. When integrated with our multimodal biometrics identification and authentication models, we have the potential to provide continuous and accurate identity authentication rates of 99% plus.
What can Distilled IDENTITY™ do for your Business?
Proactively flag fraud and money laundering activities
Improve security and the customer use experience
Adhere to personal data privacy regulations (e.g. GDPR)
What is Social Physics?
Social Physics, developed at MIT, is a computational social science that merges fundamental equations about human behavior with large-scale data observations. Social Physics can be used to understand and predict human behavior at scale.
How do we address data privacy and policy concerns?
You can read more about these concepts in the book Trust::Data published by our co-founders David Shrier and Prof. Alex Pentland and see the open source code project at trust.mit.edu.