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13 Oct 2016

Long ago, a cartoon ran in The New Yorker, showing a canine seated at a desktop computer. “On the internet,” ran the caption, “nobody knows you’re a dog.”

 

The same premise holds true today and poses a knotty question in online commerce and FinTech: How do you know the person on the other end of a transaction is really who they say they are? And even if you do confirm their identity, how do you know that person can be trusted?

 

One firm, IdentityMind Global, provides real-time risk management and fraud prevention through “digital identities,” collecting data across dozens of parameters, separating the financial ecosystem into good actors — those deserving of trust (and completed transactions) —...