At the turn of September and October, we headed to Kosice, Slovakia, to attend the annual SlovakiaTech Forum. SlovakiaTech combines a global conference and a technology fair which brings together experts from Slovakia and around the world in areas like innovation, industry technology, and energy. This event serves as a showcase for the capabilities of Slovak companies in these sectors, and Trustmatic was honored to be a key player in Slovakia's vibrant tech business ecosystem.
Keynote: Fighting identity fraud & Making the internet safer
Trustmatic's CEO, Donal Greene, delivered a keynote on "Fighting Identity Fraud & Making the Internet Safer," highlighting the importance of identity verification in digital security. You can watch the recording of the presentation below.
4 Essential insights from the keynote
1. Companies are paying the price of identity fraud
Companies and consumers are incurring significant financial losses due to identity fraud. In 2020, $11 billion was paid in fines for non-compliance with KYC regulations, and consumers lost $56 billion to identity fraud in 2021. This highlights the critical need for robust identity verification systems in the digital era.
2. Advanced fraud tactics on the rise
The sophistication of fraud techniques is escalating, with criminals employing complex methods for a range of illegal activities. These advanced fraud tactics underscore the necessity for equally sophisticated detection and prevention methods, an area where Trustmatic is actively contributing.
3. The impact of AI and Machine Learning
AI and machine learning are not just optional tools but essential components in the fight against identity fraud. Trustmatic's use of these technologies is a testament to the evolving landscape of digital security, where the application of advanced solutions is becoming increasingly crucial.
4. The Future of Identity Verification
The future of identity verification, as projected by Donal Greene, is fast, user-centric, and empowers individuals to have control over their personal data. A decentralized approach to managing personal information is key to achieving a balance between security and user autonomy.
Final Thoughts
Trustmatic was proud to be a part of SlovakiaTech for the second time in a row. Stay tuned for further updates from Trustmatic as we continue to innovate and redefine digital security, making the internet a safer place for all.
Filip Fabian
Filip is responsible for business development, sales, and revenue operations at Trustmatic.
