KABN Presents: Digital Identity 2020 — The evolving digital identity landscape

Discussion Series: Volume 2

Digital identity verification and support for credit card purchases online

With over $9 Billion in fraudulent transactions a year in the U.S. alone, credit card losses are not only a huge expense that needs to be covered by someone, but also a huge headache for the individual who has to deal with the aftereffects of the fraud. Anyone who has been a victim of credit card fraud can surely relate to the time-consuming hassle of having their card account frozen, waiting for a new card to arrive, reviewing their transaction statements for fraudulent activity and so on.

Card networks, their financial institutional partners, merchants and consumer are seeing a rise in fraudulent activities as eCommerce and other online payment programs experience increased volumes as the current macroenvironment has forced many people to do their grocery shopping and everyday activities online. The transformation of industries as they go virtual is going to forever change the way we do business. Yes, as restrictions ease, we will find a new normal, but the convenience of online engagement will stay with us going forward.

Recently, both Visa and Mastercard announced initiatives that will provide partners, payments systems and ultimately consumers with digital credentials that will enhance verification. This has the potential of reducing identity theft, fraudulent transactions and chargebacks as well as make the entire online ecosystem more efficient.

The impact these initiatives can have on consumers can potentially be tremendous. When used effectively, verified digital credentials could allow only the rightful owner of the card and no one else, to use the card. This could make a positive dent in the $9 Billion of credit card fraud mentioned above, and, for consumers, it could eliminate that huge hassle factor of closing accounts, replacing cards and disputing fraudulent charges.

What remains as a concern though, is how all of these digital credentials will be managed by the consumer. It’s easy for a corporation to say, “let’s add security and give everyone a digital certificate”, but how is everyone going to keep track of them, store them and know when and how to use them when needed?

Think about it for a moment. When you venture outside to go to the store, you lock your home, unlock your car, and then lock it again once you get to your destination. At the store, you shop, take your card out of your wallet to check out your purchases and then follow those same steps in reverse order to get back home again. During that outing, at a minimum you used your wallet and the keys on your keyring. Shouldn’t it be just that easy in the online world to prove who you are, secure your assets, use them and store them again, as well as be the only one to have access to them?

At KABN, our fundamental philosophy is that the ownership of digital identity is a basic human right and that the owner of that identity should be the primary beneficiary of its use. This mean that you should own, manage and control the use of your digital identity and the related private and public data that is generated through its usage.

Our programs are designed and architected from the bottom up with the consumer as the principal user in the ecosystem, not corporations. With growing security and regulatory concerns, we are starting to see more requests for personal data and secondary validation, like sending authentication codes to our phones. With the rise of digital certificates, credentials and trust programs, we’re going to need an easy, efficient and effective way to store, manage and control all of these elements as well as our passwords and other credentials. It’s getting harder and harder to keep organized and it seems like our digital life could soon become more complicated than our real world one.

Now, more than ever, we need something that we control to not only prove who we are, but to also manage all the other pieces of information that prove who we are. There’s got to be a way to combine all the disparate digital identities and pieces in one simple format or container together with your online keys to valuable data vaults, like passwords, profiles and online accounts, among others.

We believe there is, and that’s why KABN has created Liquid Avatar (www.liquidavatar.com) to provide an easy-to-use solution to this growing and challenging problem.

Liquid Avatar works with all your online identity information and makes it simple to provide validation and authentication to just about anyone on a permission basis. It’s a digital wallet and keyring which mimics real world activities, together with your biometric (facial recognition, voice, fingerprint and other data that makes you unique) making it as easy to prove identity online as it is in the real world.

Liquid Avatar works in combination with KABN’s reusable, Always On, biometrically-enabled digital identity platform, enabling anyone with a mobile phone, tablet, camera-enabled laptop or desktop, to create a personal online Digital ID with a greater measure of verification.

As we continue to move through this thought leadership series, we will continue to demonstrate how Liquid Avatar and the KABN Network are creating innovative solutions to manage digital identity in a quickly evolving marketplace.

Thank you for reading,


Ben is the Chief Executive Officer of the KABN Network (www.kabn.network) and its North American company, KABN Systems North America Inc. (www.kabnsystemsna.com) and has over 20 years of payments and financial services experience holding senior management positions with global Fintech, banks and card network organizations.

KABN believes that ownership of identity is a basic human right and individuals should be the primary beneficiary of any use of their identity. KABN delivers world-class solutions that enable users to verify, manage and monetize their digital identity.

KABN has recently launched Liquid Avatar (www.liquidavatar.com) to empower consumers to manage and control their digital identity.

A Liquid Avatar is a high quality, blockchain secured online version of you! Create, Secure & Share a fully customized digital version of you.

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