Category Archives: Digital Identity

FFCON20 This Week: Thur, August 6: DIGITAL IDENTITY & CONVERGENCE MARKETPLACES

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NCFA Canada | Team FFCON20 | Aug 3, 2020

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Join us Thursday, August 6, 2020!  As the digital economy grows and the world increasingly moves online, the future of digital identity will deliver new frameworks and infrastructure to support digital commerce, online interactions and social identification in more secure and robust ways than ever thought before. This future is here today where individuals and businesses can establish digital representations of their identities to serve as the gateway to store and protect sensitive data, manage permissions and ultimately enable the future of Convergence Marketplaces.

  • Why digital identity matters globally in 2020 – where is it taking us and what’s the future
  • How businesses and government need to adapt to consumer ownership of data
  • Are consumers ready to control their own data?
  • How blockchain technology and other core tenants are the foundation for Convergence Marketplaces – A peak into the future
  • Liquid Avatar and and convergent marketplace DEMOs

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FFCON20 Week 5:  In Focus

NEXT UP --> Aug 6, 2020

Digital Identity & Convergence Marketplaces

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Fintech & Cybersecurity: Key Risks and Solutions

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Guest Post | July 21, 2020

Cybersecurity risks and solutions - Fintech & Cybersecurity: Key Risks and SolutionsFintech companies have dramatically improved financial services worldwide. The sum of innovative technologies is offering groundbreaking banking and financial services to both consumers and B2B clients. In terms of funding, payments, investments, and other processes, the financial sector has never been more streamlined.

But in line with increased performance, there is increased risk. The fintech industry is on a quest to ensure optimal cybersecurity and safeguard customers’ financial and personal data; as well it should because it seems every month we hear about another major data breach.

See:  Cybercrime and Covid-19: Preying on Fear

While we may pat ourselves on the bank and point to the positive aspects of fintech and open banking, we shouldn’t lose sight of the fact that critical technical dependencies on third parties in the integrated fintech ecosystem have made it uniquely vulnerable to several cybersecurity risks.

Here we shed light on some of those risks and go over a few actionable solutions to improve the landscape.

 

Key Fintech Cybersecurity Risks

Malware Attacks and Hacking

If you want to categorize cybersecurity risks in the fintech industry, malware attacks and hacking are among the most prominent. In one key example of the latter, bad actors are launching sophisticated cyberattacks on SWIFT infrastructure, a financial telecommunication system used worldwide by banks and other financial institutions to transfer transaction-related information.

The “insane” (as Wired termed it) $81 million bank heist incident in Bangladesh incident took place because of exploitable vulnerabilities that are prevalent in many banks. A similar attack is probably a matter of time as the risk here is directly related to financial operations such as domestic and international funds transfers.

 

Lack of Regulatory Compliance

The rapid rise of fintech companies is associated with an overall transformation in information technology and related fields. Legacy banking regulations don’t cover technological risks in a comprehensive manner, which means the fintech industry is largely unregulated.

Regulatory bodies are catching up but there is a lot left to cover to minimize the risk. In the meantime, a lack of regtech means organizations at risk of breaches include both those handling financial and personal data and peer to peer loan data.

 

Digital Identity Theft

In the fintech ecosystem, most applications and financial services are web-based with iOS or Android mobile devices at the front end. Fintech technology uses one-time passwords (OTPs) as security codes to verify customer authenticity during online marketplace transactions. Unfortunately, these OTPs are easily accessible by cyber attackers and critical information is easily traceable by bad actors. Faulty fintech software solutions are mostly liable in these cases.

See:  Comparison of UK banking providers’ fraud controls

The risk of digital identity theft is directly related to online marketplaces. When a customer shares sensitive financial and personal information on online platforms or in e-banking solutions, this information is far too easy to garner.

 

A Few Solutions

Reputable Third-Party Service Providers

The fintech industry is largely dependent on various third-party service providers, from malware and cyberattack protection, cloud computing, to digital data services, to name just a few. Many IT risks arise due to weak software management by third-party service providers. Always go for reputable providers for fintech solutions as it ensures greater safety and security across the board.

 

Ensure Regulatory Compliance

Regulatory compliance for the fintech industry is still scant, particularly when compared to the size of the landscape. However, applying what compliance is available should save fintech companies from cross-border legal issues, potential loss of reputation, and the often hefty regulatory fines imposed by jurisdictional authorities. At the same time, regulators should review regulation perimeters routinely. Some key regulations to follow include:

  • GDPR — Worldwise
  • PSD2 — European Union
  • eIDAS — European Union
  • PCI DSS — Worldwide
  • NCUA — Americas

 

Robust E-banking Security Architecture

In order to maintain customers’ privacy on web applications, online marketplaces, and when using e-banking solutions, banks and financial institutions should periodically update their security framework and architecture. This will mitigate some of the risk factors and pave the way for effective fintech implementation.

In addition, the industry as a whole needs to do a bit more to protect application users on-site. Companies can’t always rely on users to download a secure and effective VPN so apps should have VPN protection in place to secure connections and prevent unauthorized access. System firewalls, antivirus, and other steps are fundamental to stopping breaches.

The bottom line is that fintech will never be free from security vulnerabilities. However, by fostering appropriate security measures the industry can stay strong.

 


NCFA Jan 2018 resize - Fintech & Cybersecurity: Key Risks and Solutions The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Digital IDs Help Open Banking Reach Its Fullest Potential

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PYMTS | July 10, 2020

Open bankingdigital ID aids access - Fintech & Cybersecurity: Key Risks and Solutions comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen, chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview.

As financial institutions (FIs) work with FinTechs, they need to know that these tech-nimble startups are not only enabling access to customers’ account data but also in a manner that embraces KYC and AML. The end goal: to speed innovation toward new products and services while keeping fraudsters out.

Regulation Vs. Market Forces

The need for both innovation and security comes at a time when open banking is gaining a foothold in the United States due in part to the pandemic. It’s also growing across the pond in the European Union, albeit with some important distinctions.

“In recent years, we’ve seen the heavily regulated version of open banking in the E.U.,” Cohen said. “It’s been a coordinated effort — regulatory-driven, highly standardized and thrust upon the banking community. In the U.S., it’s been an organic-but-inevitable exercise, driven primarily by innovation and consumer demand.”

That’s due in part to the fact that America has a more fragmented banking and regulatory landscape, he said. But despite the differences, Cohen said he believes open banking is here to stay in the U.S.

Just consider all the recent acquisitions from major payments players. For instance, Mastercard last month bought Finicity, while Visa earlier this year acquired Plaid. Through those acquisitions, the networks have shown their interest in serving as intermediaries between banks, their customers and FinTechs that want access to important account-related data.

See:  Refusal to embrace open banking puts Canada behind yet another curve

After all, the financial services ecosystem is striving to give consumers access to their financial records and leverage tech-driven innovations to improve their lives.

Cohen said that if banks don’t jump on board with those goals, they risk losing significant numbers of customers. Consumers want to share and access data to make such things as applying for a mortgage or tracking spending across various accounts easier.

Protecting Consumer Data

But with an ever-greater exchange of data must come an increased FI focus on data privacy, data ownership and how information gets used, he said. At a high-level view, banks must have robust ID verification procedures in place, making sure that the right people are showing up at the right time to do the right thing.

Webster noted that KYC and AML procedures aren’t governed by global standards. However, Cohen said that in the U.S., various forms of privacy legislation have been making headway. For instance, he pointed to statewide initiatives in California and Illinois that have focused on biometrics.

“It’s a good move for organizations that are involved in open banking and driving that innovation to have similar high privacy standards in that regard,” said Cohen.

Checks And Balances

He recommended that organizations have checks and balances to make sure consumers are protected and data is secured via coordinated efforts between banks and FinTechs.

Along those lines, financial services players — banks and FinTechs among them — are entering into data exchange agreements that operationalize tenets around what can be done with data, what information is needed and how long it can be stored.

See:  FFCON20 DIGITAL Attendees to Receive Exclusive Digital Icon and Early Access to Liquid Avatar

“You’re confirming pieces of information on demand, but you’re not maintaining an open channel, nor are you retaining information nor sharing it or using it for any other purpose other than strictly what has been stated,” he said.

Generally speaking, firms shouldn’t retain data in searchable format, but should keep it in anonymized formats and quickly expunge it, Cohen said.

“When you feed that information back or you provide that connectivity and access, there’s no reason to retain it,” he said. “As long as you’re following strong data retention principles and as long as you’re securing those networks and channels, that’s the basic foundation that you want when operationalizing open banking.”

The Pandemic Is Speeding Innovation Up

Dialogue and close coordination between financial services players have spurred the equivalent of three years of innovation during the pandemic’s past three months, Cohen said.

“There’s been a huge amount of volume and demand for these types of digital journeys, as opposed to being able to walk into a branch and do things in person,” he said.

Continue to the full article --> here

 


NCFA Jan 2018 resize - Fintech & Cybersecurity: Key Risks and Solutions The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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FFCON20 DIGITAL Attendees to Receive Exclusive Digital Icon and Early Access to Liquid Avatar

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NCFA and FFCON20 | Release | July 8, 2020

FFCON20 Liquid Avatar pin resize - FFCON20 DIGITAL Attendees to Receive Exclusive Digital Icon and Early Access to Liquid AvatarTORONTO — July 8, 2020 — The National Crowdfunding & Fintech Association (NCFA), Toronto Finance International (TFI), and partners are pleased to announce that together with their sponsor, KABN Systems North America Inc. (“KABN”), attendees of FFCON20 DIGITAL, taking place from July 9 through August 27 inclusive, will receive an exclusive Liquid Avatar FFCON 20 iconic digital pin to celebrate their attendance at the event.

The FFCON20 digital pin is the first event pin offered by Liquid Avatar (www.liquidavatar.com) in support of its new app to power users to verify, manage and monetize their digital identity.

Liquid Avatar, a KABN product offering, provides users with the ability to verify, manage and control their digital identity through an easy to use app or web page. Using high quality icons, users can create their digital identity and verify themselves using KABN’s bank grade validation process and biometrics, supported by Blockchain technologies.

“We’re honored to be able to present our first Liquid Avatar event pin at FFCON 20 DIGITAL,” said Mr. Ben Kessler, CEO – KABN. “Liquid Avatar gives users control over the use of their digital identity and data providing them with the ability to share what they want, when they want and with whom they want, easily and efficiently, while protecting the use of their digital assets.”

Liquid Avatar creates a re-usable, always on, verified digital identity that can be used, together with the app’s “wallet” and “keyrings” for current and future digital credentials and to manage private and public data. Liquid Avatar is built to support a wide range of digital credentials, wallets and authentication processes, creating a potentially agnostic authenticated storage environment for the user.

“We’re very excited to work with the KABN team to provide attendees with the inaugural Liquid Avatar event pin with potential future value offerings from NCFA and its partners, and to commemorate FFCON20 DIGITAL, and what a transformative year 2020 has been for the digital economy and those on the RISE,” said Craig Asano, Founder and CEO – NCFA Canada. “Users will be able to claim their digital pin and gain early access to the Liquid Avatar app.”

KABN will be presenting Digital Identity and Convergence Marketplaces, as part of the FFCON20 DIGITAL programme on Thursday, August 6, 2020 at 2 pm Eastern. Attendees of that event will get additional Liquid Avatar rewards.

See:  Get tickets to FFCON20: DIGITAL RISE July 9 - August 27

 

Now in its 6th year, FFCON20 will be an online experience bringing together prominent industry experts, entrepreneurs, professionals, regulatory bodies and ecosystem stakeholders in fintech, digital identity, blockchain, crypto, AI, capital markets innovation and alternative finance to discuss innovation and Canada’s ability to compete and scale globally, the latest industry developments and emerging trends, regulation and thought leadership.

The theme of this year’s conference is ‘RISE’ reflecting the joint efforts of the two associations, NCFA and TFI, to build and increase the success and sustainability of Canada’s fintech and financial sector.

The Programme

Tickets include access to all eight weeks of FFCON20 DIGITAL

  • July 09: FFCON20 Kickoff | Scaling FinTech Funding, Innovation & Competition
  • July 16: Digital Banking, Open X, Future of PayTech
  • July 23: Sustainable Finance
  • July 30: Leadership & Adaptability
  • August 06: Digital Identity and Convergence Marketplaces
  • August 13: Currency Wars & The Rise of DeFi
  • August 20: Ai in FinTech: biased and in need of regulation?
  • August 27: The Biggest Debates in Fintech and Fintech Draft Finals | Official Close of FFCON20

The agenda can be accessed on the programme page.

Our Partners and Speakers

Some notable companies involved include: Exponential, KABN NA, Mavennet, The Finanser, eThereLive, The Top Floor, EQbank, CACHEFLO, Consilium Crypto, DUCA Impact Lab, Deloitte, FundRazr, Holt Accelerator, Lending Loop, Metaverse Foundation, Ledn, Portag3 Ventures, Senate of Canada, LQwD Financial Corp., Accenture, Clearbanc, Bitvo, Singularity Media, Northmark Ventures, Luge Capital, Crowdfund Capital Advisors, Engaiz, Finnovate.io, Senso, FundRazr, Brainfluence, Foxquiilt and Zensurance. The growing list of speakers can be found at the conference speaker page.

Registration Now Open

Registration for FFCON20 DIGITAL is open and tickets are available to one or all 8 weeks in the FFCON20 DIGITAL weekly event series and can be purchased at https://fintechandfunding.com/tickets/.

Useful Links

FFCON20 banners | logos | images
Website | Experience | Partners
Registration | Media Pass

Connect with us

Twitter | LinkedIn | Facebook

About the NCFA

The National Crowdfunding & Fintech Association (NCFA) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain and cryptocurrency, Regtech, and Insuretech sectors. To learn more about NCFA visit www.ncfacanada.org

About Toronto Finance International

Toronto Finance International (TFI) is a public-private partnership between Canada’s three levels of government, the financial services sector and academia. TFI’s mission is to lead collective action that drives the competitiveness and growth of Toronto’s financial sector and establishes its prominence as a leading international financial centre. For more information, please visit: www.tfi.ca

About KABN Systems North America Inc.

KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from its use of their online identity. KABN propriety technology suite includes 4 key products:

KABN ID is an Always On, biometric and blockchain based digital identity validation and verification platform allowing users to continuously and confidently prove themselves throughout the online community.

Liquid Avatar allows users to create high quality digital icons representing their online personas. These icons, in conjunction with KABN ID, allows users to use Liquid Avatars to share public and permission based private data when they want and with whom they want. www.liquidavatar.com

KABN Card is a Visa approved prepaid card program allowing users to manage both digital and fiat currencies and earn cashback and other loyalty incentives.

KABN KASH is a cashback, loyalty and engagement program that powers the KABN revenue ecosystem.

KABN provides its products and services at no cost to consumers and generates revenues through permission-based partner programs.

KABN Systems North America Inc. is the operating division of KABN Systems NA Holdings Corp., a publicly traded on the Canadian Securities Exchange under the symbol: KABN

For more information, please visit www.kabnnaholdco.com or www.kabnsystemsna.com

About FFCON

FFCON20 (2020 Fintech and Financing Conference) is an annual conference hosted by Canada’s National Crowdfunding and Fintech Association (NCFA). Now in its sixth year, FFCON20, held in association with Toronto Finance International, will bring together professionals and innovators in fintech, open banking, digital identity, blockchain, cryptocurrency, AI, capital markets innovation, sustainable and alternative finance. Further information about the conference can be found at www.fintechandfunding.com

FFCON20 Contacts

Craig Asano
Founder and CEO, NCFA
casano@ncfacanada.org
(416) 618-0254

Partnership Inquiries
Lauren Linton
Advisor, NCFA
lauren@ncfacanada.org
(416) 569-4349

Media Contact
Michele McDermott-Fox
The Top Floor Public Relations
pr@thetopflooragency.com
(905) 379-1893

View the original release here

 

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Liquid Avatar to Present at Apex Comic Group’s San Diego Comic-Con Virtual Panel

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KABN North America | Ben Kessler | Jun 25, 2020

Liquid avatar to present at Apex Group event - Fintech & Cybersecurity: Key Risks and SolutionsLiquid Avatar launches open call for emerging artists at world's largest comic book, fantasy and manga event

Toronto, Ontario--(Newsfile Corp. - June 25, 2020) - KABN Systems NA Holdings Corp. (CSE: KABN) (the "Company" or "KABN" or "KABN North America"), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization, is pleased to announce that its Liquid Avatar platform (www.liquidavatar.com) has partnered with Apex Comics Group (www.apexcomicsgroup.com) founder and publisher, Mariano Nicieza to present at this year's San Diego Comic-Con @Home event. The Apex Comics Group panel will take place on Saturday, July 25, 2020 at 5 pm Pacific Time / 8 pm Eastern Time.

San Diego Comic-Con is hailed as the largest attended event in San Diego annually with over 135,000 attendees in 2019 according to VisitSanDiego.com. This year's event, celebrating 51 years, will be held virtually for the first time, bringing the event to the world.

See:  NCFA and KABN Systems North America enter multi-year exclusive partnership to promote Digital Identity in Canada

KABN's presentation during the Apex panel will focus on this week's earlier announcement launching Liquid Avatar's Creator program which is bringing some of the world's leading pop culture, comic book, fantasy, anime, manga and other iconic Artists together to create Illustrator and Signature series Liquid Avatars. There is also an open call for emerging Artists to join these programs and sell one of a kind, digital series and limited runs of custom Liquid Avatars. All custom Liquid Avatars will be available in the Liquid Avatar Marketplace launching in Q3 (www.liquidavatarmarketplace.com). A select group of emerging Artists will also be commissioned to create new, free Liquid Avatar icons available in the program's Creator Studio.

Liquid Avatars are high quality digital icons for personal or business use that emulate a user's digital "wallet" and "keyring" allowing them to manage and control their digital identity, credentials, and valuables. Powered by KABN ID with its biometrics, including facial recognition and other security features, Liquid Avatars can be shared with 3rd parties on a permission basis to verify identity without exposing any sensitive data. There is no cost for a consumer to create or manage their Liquid Avatar account and use the platform.

With the evolving macroenvironment driving an increased amount of time spent online, KABN believes that digital identity will become more important as users look to work, play, educate, game and shop virtually and will need to protect, manage and control the use of their digital identity.

Each custom Liquid Avatar, including the Illustrator and Signature series program, will also be supported by a Digital Certificate of Authenticity ("DCA"), based on blockchain technology developed by the KABN Network. DCAs allow for the issuance, recording, management and transfer of digital assets using IBM's Hyperledger Fabric.

"San Diego Comic-Con is a perfect place to showcase Liquid Avatars and we want to support the growing number of young, emerging artists and help them kickstart their career through the creation of custom Liquid Avatar icons," said Ben Kessler, CEO. "Our Liquid Avatar program is positioned to give people a wide range of choices on how they want to digitally present themselves as well as manage and control their digital identity, private and public data. Embracing the professional and emerging Artist community will provide unique opportunities to showcase their work while creating new sources of revenue for themselves and KABN."

Liquid Avatar is developing custom icons for online groups, events and conferences to create incentives for participation. Liquid Avatar also has other gamification features like badges to create recognition and rewards for attendance and participation.

See:  NCFA Announces Updated Virtual Interactive Programme for FFCON20 DIGITAL, the 6th annual Fintech and Financing Conference

KABN believes that ownership of identity is a basic human right and individuals should be the primary beneficiary of any use of their identity. KABN North America generates revenue by providing users with high value services and delivering permission-based offers that fit their aggregated public data profiles through KABN KASH and the KABN Visa Card. KABN never rents, sells or provides data to outside parties without permission and complies with jurisdictional privacy rules and regulations.

Over the coming weeks, KABN will begin its rollout of products and programs, initially on an invitation-only basis to its customers, social media, gaming and its network partners.

KABN North America - Showcase - July 7th and July 8th at 12 pm to 1 pm Eastern

KABN North America will be holding a virtual showcase event to present an overview of its products and offerings on July 7th and 8th from 12 pm to 1 pm Eastern. To register for either of these events, please click on either of the links below:

July 7th - https://aw14bfc0.aweb.page/p/d4e2ce95-8957-4fc7-be5c-3384a511398e

July 8th - https://aw14bfc0.aweb.page/p/b82604b4-cc9e-4e7a-86ba-ebcec20ab856

About KABN - www.kabnnaholdco.com

KABN Systems NA Holdings Corp. through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from its use of their online identity.  KABN Systems NA Holdings Corp. is publicly traded on the Canadian Securities Exchange under the symbol: KABN

For further information, please contact:

Ben Kessler
Chief Executive Officer
647-725-7742 Ext. 700

 


NCFA Jan 2018 resize - Fintech & Cybersecurity: Key Risks and Solutions The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Banking Needs 360-Degree View of Customer Journey

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The Financial Brand | Jim Marous | Jun 2, 2020

Digital ID and Customer attribution - Fintech & Cybersecurity: Key Risks and Solutions

“Identity is the foundation that allows brands to deliver relevant messages, while reducing waste, customer churn and optimizing return on marketing investment,” said Ric Elert, President and chief operating officer at Epsilon. “When brands get identity right, it gives them a fighting chance to not only survive but thrive.”

Why is Identity Resolution Important?

With consumers using multiple channels before they make a purchase, and using multiple devices interchangeably expecting a seamless experience, it has gotten exponentially more difficult to understand the complete customer journey. Identity resolution helps marketers connect the dots across all online and offline touchpoints that each individual customer uses.

See:  A new denim collection gives jeans a digital identity

Without such capability, banks and credit unions risk wasting marketing dollars and the ability to measure success across channels. There is also the likelihood that you will over or under communicate with customers at key times of the relationship, creating ill will.

According to a study of just over 200 marketing and consumer data decision makers conducted by Forrester Consulting on behalf of Epsilon, only 40% of financial services companies are confident that their customer ID profiles are both complete and accurate. This means marketing investments are being wasted and that there is a risk of privacy and compliance issues.

Other findings included:

  • Only 43% of financial services industry respondents say their brands use their ID resolution programs to measure online and offline marketing performance.
  • Only 29% of respondents said that they receive excellent support from identity resolution programs for reducing marketing waste.
  • Only 33% said that they receive excellent support for decreasing customer attrition and 42% for helping increase revenue per customer.

“We speak with marketing executives who tend to be too focused on data collection or campaign execution and aren’t thinking about measurement,” said Elert. “Brands that are seeing real results from their people-based advertising are committed to looking at all these areas holistically.

The Building Blocks of ID Resolution

The mission of identity resolution is to connect with customers with a high level of personalization and continuity of voice encouraging meaningful interactions. Or, more simply, to know enough about your customers so that they feel like you know them, understand them and want to help them.

Done well, and your organization benefits from less marketing waste and an improved brand perception.

See:  Liquid Avatar Integrates with Disrupted Logic Interactive to Reach 60 Million+ Gamers

According to Epsilon, there are 5 building blocks to a strong identity resolution strategy:

  • Recognition. Using data not only available within your internal database, but also looking at behavior and channel usage beyond what consumers do with your brand.
  • Reach. The need to reach your customers as real people, not just cookies or devices, to avoid hurting your reputation by messaging them too frequently.
  • Accuracy. The importance of identifying customers across all of their devices and browsers, consistently and at scale, for a better customer experience.
  • Persistence. Being able to follow the customer as they change along their customer journey with updated data actions both online and offline.
  • Privacy. To proceed with confidence, data must be scrubbed of personally identifiable information (PII) before it is used to comply with the European General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). This step also involves ongoing management of opt-out status.

Identity resolution at scale is best done with a partner you can trust. In addition you need to be able to continuously verify their ability to manage the different building blocks well. The risk of mismanagement goes beyond wasted marketing dollars and a bad customer experience. There are privacy and compliance ramifications.

In fact, Forrester found that many identity resolution programs face challenges. In the firm’s research, just half of financial marketers, at best, said they’re fully capable of fundamental identity resolution capabilities including identifying customers across devices, controlling communications frequency and sequencing, or building a single customer profile using all available customer data points.

Continue to the full article --> here

 


NCFA Jan 2018 resize - Fintech & Cybersecurity: Key Risks and Solutions The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Liquid Avatar Integrates with Disrupted Logic Interactive to Reach 60 Million+ Gamers

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KABN Sytems North America | Ben Kessler | June 16, 2020

KABN and Disruptive Logic Interactive - Fintech & Cybersecurity: Key Risks and Solutions

Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - June 16, 2020) -  KABN Systems NA Holdings Corp. (CSE:KABN) (formerly Torino Power Solutions Inc.) (the "Company" or "KABN" or "KABN North America"), a Canadian Fintech company that specializes in continuous online identity verification, management and monetization, is pleased to announce that it has entered an initial agreement to integrate its Liquid Avatar platform (www.liquidavatar.com) with Disrupted Logic Interactive's ("DLI") ctalyst® platform to enhance the experience of online and eSports gamers.

Founded in 2012 in Vancouver, BC, by a team of seasoned video, gaming, advertising and technology leaders, DLI's ctalyst® platform currently works with over 130 game producers and has an additional 150 developers awaiting invitation to join the network. ctalyst® is a one-stop, self-contained, and full-service platform similar in concept to Google's AdWords, AdSense, and Analytics, but designed just for video games and e-sports. With the 130 game producers, the peak reach has been 60 to 70 million players and manages over 150 unique data points and analytics on opt-in participants. It is anticipated that when the additional 150 game developers are invited into the program, the reach could extend to over 500 million gamers worldwide.

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KABN North America's platform provides, at no cost to consumers, the ability to create a digital identity with the Liquid Avatar platform, verify their identity through KABN ID and create value for the use of their identity through KABN North America's cashback, engagement and loyalty program KABN KASH, as well as the KABN Visa card.

KABN North America generates revenue by providing users with high value services and delivering permission-based offers that fit their aggregated public data profiles. KABN never rents, sells or provides data to outside parties without permission, and complies with jurisdictional privacy rules and regulations.

KABN North America is working with DLI and its game developers to promote Liquid Avatar to US and Canadian gamers through the online game registration and certain game incentives.

"The ability to increase player reach outside of the game and the ability to empower users to control the use of their digital identity is a fundamental reason why we've partnered with Liquid Avatar," said Tom Raycove, CEO of DLI. "KABN's ecosystem presents a tremendous opportunity for DLI and our game developers to create revenue while building increased value for players."

Liquid Avatar - Delivering Reach, Value and Revenue

Game Developers - Liquid Avatar provides developers with the ability to extend their reach and revenue generation with players by having gamers activate Liquid Avatars. Any revenues generated by those gamers in the KABN Network will be shared by KABN, DLI and game developers.

Advertisers - For in-game advertisers, DLI manages over 150 unique data points and, together with Liquid Avatar, can assess if a gamer has more than 1 account, allowing unique advertising to be delivered not just based on individual game play of an individual person and not just the number of accounts, increasing both value for the advertiser and potentially increasing overall revenue in the ecosystem.

Gamers - By signing up in-game for a Liquid Avatar account, the user will have the ability to earn special rewards and value from the game developer. They will also have the ability to potentially create and manage in-game avatars with Liquid Avatar and extend their game personas to the real world. Working with DLI, the data points collected can support both the opportunities in Liquid Avatar and products like KABN KASH to create more personalized offers from merchants and increase the potential revenue generated by KABN North America.

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DLI / catalyst® - The agreement with KABN North America provides opportunities for DLI to increase their ongoing reach with gamers, create value for the ecosystems and generate revenues beyond in-game advertising. Liquid Avatar and KABN will share revenues generated inside the KABN ecosystem for users generated from DLI's referrals.

KABN North America - By working with DLI and other organizations that have large networks of non-verified users, Liquid Avatar can potentially create significant revenue and value for its partners and the KABN Network. This process both increases reach for Liquid Avatar and can potentially reduce customer acquisition costs significantly.

KABN North America Product Suite

KABN North America has 4 primary products that enable users to verify, manage and monetize their digital identity:

  • KABN ID: a reusable, Always On, compliant, biometrically based, identity verification and validation platform that forms the engine of the KABN Network.
  • LIQUID AVATAR: a digital image-based "wallet and keyring" platform that allows users to manage their digital identity.
  • KABN Card: an approved prepaid Visa card that includes a mobile banking wallet that supports both digital and traditional currencies.
  • KABN KASH: a robust loyalty and engagement platform with cashback and card-linked programs.

"This agreement with DLI creates an opportunity to reach a significantly large, low acquisition cost and highly scalable market to increase the reach of Liquid Avatar," said Benjamin Kessler, CEO. "KABN's suite of services will provide an ecosystem to empower these users to manage and control their digital identity and to benefit from unique, permission-based offers that will create revenues for KABN, DLI and game developers."

DLI is currently exploring its own private funding program and KABN North America has expressed interest in participating as a lead order, subject to completion of a definitive agreement, review of the offering, and receipt of all necessary approvals.

Over the coming weeks, KABN will begin its rollout of products and programs, initially on an invitation-only basis to its customers, social media, gaming and its network partners.

About DLI - www.disruptedlogic.com

Founded in 2012 in Vancouver, BC, by a team of industry professionals from gaming, advertising, technology and the motion picture industry, Disrupted Logic Interactive currently has 7 employees. Disrupted Logic has developed the ctalyst® technology which is live and in market.

ctalyst® is a one-stop, self-contained, and full-service platform similar in concept to Google's AdWords, AdSense, and Analytics, but designed just for video games and e-sports. ctalyst® ads are a natural, native, and genuine playable and enjoyable part of the video gaming experience. The ctalyst® engine manages over 150 user datapoints and analytics on an opt-in basis.

The platform has 130 participating game producers and an additional 150 developers awaiting invitations with an audience peak reach of approximately 60 to 70 million people. Disrupted Logic expects that when the additional 150 game developers are invited into the program, the platform's reach to the gaming industry could extend to over 500 million users worldwide.

For more information, please visit: www.disruptedlogic.com

About KABN - www.kabnnaholdco.com

KABN Systems NA Holdings Corp. through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of digital identity, empowering users to control and benefit from its use of their online identity.

 

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NCFA Jan 2018 resize - Fintech & Cybersecurity: Key Risks and Solutions The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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