Founder and CEO of MEF Member Numeracle Rebekah Johnson shares an overview of her presentation at the recent MEF CONNECTS Personal Data: ID & AUTH and outlines the thinking behind “organizational identity” or “Entity Identity”…
In the dynamic landscape of the telecom industry, the concept of organizational identity, which Numeracle has pioneered as “Entity Identity,” is gaining prominence.
With the increasing threat of fraud dissolving trust in communications, businesses are recognizing the importance of establishing the concept of “identity” for entities and organizations rather than solely focusing on individual consumer identities alone.
The role of organizational identity in preventing, identifying, and stopping fraud while simultaneously enhancing trust in communications is more than significant; it’s necessary.
The telecom industry is a vital component of our interconnected world, facilitating communication and enabling businesses to thrive. However, alongside its exponential growth, the industry has also witnessed a rise in fraudulent calling activities. From illegal robocalls to caller ID and brand spoofing, bad actors exploit vulnerabilities, eroding trust in telecommunications and defrauding consumers.
To address these challenges, Numeracle has emerged as a trailblazer, championing the adoption of Organizational or Entity Identity Management™ (EIM). By establishing clear and verifiable organizational identities through a verified Know Your Customer (KYC) policy, businesses can effectively prevent, detect, and stop fraud.
This proactive approach not only safeguards consumers but also protects the reputation and integrity of legitimate organizations. It enables businesses to differentiate themselves from fraudulent actors, reinforcing their commitment to consumer protection.
Looking beyond the increased trust established on the business side, the adoption of organizational identity will pave the way for the increased importance of personal identity as well. Verified organizations connecting with verified individuals can create a powerful system that eliminates fraud from both sides. Combating fraud becomes a two-way effort, reducing the instances of consumers interacting with illegitimate businesses and protecting businesses from impersonation scams. There is an exciting move toward decentralized identity solutions that leverage blockchain technology, allowing users to control their data and choose whom to share it with.
While this shift necessitates Communications Service Providers (CSPs) to invest in new technologies and infrastructure, they must also re-evaluate their business models to adapt to the changing landscape. Additionally, users will benefit from greater control over their personal data but may need to adjust to new methods of accessing services. Regulators, too, must keep pace to ensure adequate addressing of data privacy and security concerns.
In this changing landscape, striking a balance between user privacy, security, and easy access to services becomes crucial. CSPs will need to find new ways to balance user privacy and security with the convenience of providing easy access to services, and the need for businesses to establish and leverage digital entity identities will become unavoidable.
Organizational Identity is a critical concept in the mobile and telecom industry, and the challenges that arise from its growing complexity cannot be ignored. The industry is evolving, and stakeholders must adapt to new challenges and opportunities to stay competitive and provide value to their customers.
Our team of experts is available to offer personalized recommendations via one-on-one free consultations of your current dialing landscape. This comes free of charge, and if we can’t help you personally, we’ll guide you in the right direction. Contact us today to schedule a free assessment of your outbound calling strategies!