Page 65 - Cyber Defense eMagazine January 2023

Is Digital Identification and Authentication the Same Thing?

No. Digital identification is what an individual, organization or device claims to be. Authentication, on
the other hand, is the process of verifying these claims.

In the eSigning process, for example, the user must be fully authenticated before a signature can be
obtained. The authentication process can vary widely. Examples include:

• Login and password combinations (including Single Sign-On)
• One-time passwords (via SMS and email)
• Mobile identities
• Bank authentication
• Biometric authentication

5 Reasons Why Digital Identity Should be a Top Business Priority

Having a strategic approach to digital identity can unlock considerable business value. Let’s look at some
of the top benefits for your organization:

Effortless Compliance: Meet AML (Anti-Money Laundering) and KYC (Know Your Customer)
requirements that place a legal emphasis on identity verification.

Minimize Risk: Reduce opportunities for manual error and breaches of conduct through robust security
measures.

Improve Customer Journeys: Smart digital identity management will build trust and customer
satisfaction by prioritizing privacy and data protection.

Fraud Prevention: Detect and eliminate fraudulent activity across key touchpoints.

Increase Efficiency: Save time by replacing manual activities and the need for face-to-face interaction
with digitally automated processes.

Digital Identity for Your Organization: What You Need to Know

When it comes to managing your documents and eSigning workflows, there are important points you
need to consider:

Each eSignature Method Offers Different Levels of Digital Identity Assurance

An important fact to point out is that electronic signatures and digital signatures are not the same thing.
Though often used interchangeably, digital signatures rely on cryptography-based technology that
provides an extra level of security and integrity for the document. They use the standards and procedures
of Public Key Infrastructure (PKI) to sign electronic data.

Cyber Defense eMagazine – January 2023 Edition 65
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