Digital Identity , Fraud Management & Cybercrime , ID Fraud

Identity Market Likely to Consolidate in 2022

Peter Tapling on How Benefits Funds Caused the Market to Evolve
Peter Tapling of the U.S. Faster Payments Council

In 2022, there will be a push for identity management capabilities that are behind the scenes and built into processes, says Peter Tapling, a member of the Board Advisory Group for U.S. Faster Payments Council.

See Also: Spotting and Stopping Synthetic ID Fraud

"The move to digital will continue to drive innovation in the way people will manage identities. We will see more identity activities dive deep into a transaction life cycle and a normalization of identity tools," says Tapling. He also predicts that overinvestment in identity will normalize a bit.

Tapling thinks the benefits funds played a big role in digitization. "While we were moving quickly to get the money in the hands of people who needed it, we were also making a massive move to all digital, and that was new to everybody."

In a video interview with Information Security Media Group, Tapling also discusses:

  • Identity lessons learned from benefits program fraud;
  • The problem of securing digital identities;
  • How the identity market will take shape in 2022.

Tapling is a board member at the U.S. Faster Payments Council. He is also the managing director of PTap Advisory LLC, a services firm that helps organizations understand technology in terms that can help support their business strategy. He was the founding CEO of Authentify, the company that introduced out-of-band authentication to financial services.

About the Author

Suparna Goswami

Suparna Goswami

Associate Editor, ISMG

Goswami has more than 10 years of experience in the field of journalism. She has covered a variety of beats including global macro economy, fintech, startups and other business trends. Before joining ISMG, she contributed for Forbes Asia, where she wrote about the Indian startup ecosystem. She has also worked with UK-based International Finance Magazine and leading Indian newspapers, such as DNA and Times of India.

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