The tech giants in the MAMAA club have a disproportionate amount of data. It helps them easily identify customers - even when signing in on new devices - reduces the friction of identity challenges such as multifactor authentication, and helps them spot fraud. Unfortunately, most of the rest of the world sits under the data poverty line, unable to use their data to create better online experiences for customers, says Ari Jacoby, CEO and founder of Deduce.
Reducing friction really matters. In fact, a recent FIDO Alliance study found that nearly 60% of shopping carts are abandoned due to authentication-related issues. "So often, companies use the bare minimum to try to satisfy their corporate anti-fraud objectives," Jacoby says. "Now, most businesses are not even thinking about building trusted user journeys into their account creation and returning user workflows, but they need to be."
In this interview with Information Security Media Group, Jacoby discusses:
- Why traditional CIAM systems create too much friction for customers and too many false positives for the fraud team;
- How a platform with elegant orchestration capabilities fueled by integrated identity intelligence can help customers skip authentication steps - and help companies identify fraudulent accounts;
- How Deduce has analyzed over 1.5 billion daily events involving more than 550 million identity profiles to help organizations ensure an accurate trust determination based on their customers' past activity.
Founder and CEO of Deduce, Jacoby is a successful serial entrepreneur and thought leader who's on a mission to democratize access to critical fraud data after spending nearly two decades bridging the intersections of data, privacy and security. Prior to founding Deduce, he led companies including Solve Media/Circulate (acquired by LiveRamp) and VoiceStar (acquired by Marchex) to successful exits. He is now dedicated to protecting businesses and their consumers from identity fraud threats while simultaneously creating more secure, frictionless experiences.