Identity verification has undergone a remarkable transformation, shifting from traditional in-person document verification to sophisticated digital methods. These advancements include online data collection, document scanning, biometric authentication, and enhanced fraud modeling. The discussion covers the increasing emphasis on rapid onboarding processes and seamless customer experiences and how they can lead to a challenging landscape for fraud detection financial institutions.

This session explores the journey of identity collection, examining the delicate balance among speed, customer experience, and robust security measures. It highlights innovative approaches to reduce customer friction while maintaining fraud prevention standards.