APRIL - 2023ENTERPRISE SECURITY| | 19President of ANZ & SE at Daon. In addition, Daon's expertise revolves around providing reliable identity solutions to organizations while ensuring regulatory compliance, helping businesses to deliver a seamless customer experience, increase customer satisfaction, and reduce cost.Powered by cutting-edge AI and machine-learning, IdentityX enables digital service providers to utilize a continuous identity solution, facilitating a seamless transition away from relying on multiple fragmented identity solutions. From a business perspective, the platform is advantageous regarding IT usage and aids in safeguarding against identity theft or account takeover fraud during the customer lifecycle. Rather than proposing an orchestration layer above siloed systems, Daon collaborates with its clients to migrate towards a single, unified client identity.To enhance the core business use cases, IdentityX also offers a biometric watch list that enables its clients to zero in on potential fraudsters. On top of that, it offers advanced capabilities with its identity verification and authentication services. IdentityX offers both FIDO standards-based device authentication and state-of-the-art server-side biometric authentication. As a result, the clients get the best of both worlds ­ convenient standards-based device authentication and also server-side biometrics for more secure high-value transactions and account recovery.As more service providers allow their customers to open accounts online, they attract the potential risk of fraud and issues that can lead to abandonment. Daon takes steps to minimize these rates by tailoring the customer journeys based on individual scenarios, which can mean providing app-based, browser-based, and even physical store account openings. Additionally, if one liveness mechanism proves too challenging for the customer, it provides failover processes that let the customer progress without further hiccups until the end goal is achieved.An illustrative example pertains to a major enterprise in the locality that encountered a substantial predicament of account takeover fraud, thereby inflicting adverse fiscal and digital effects on the company. Daon collaborated with the enterprise to introduce IdentityX for FIDO standards based multi-factor authentication. The implementation proved efficacious in significantly reducing account takeover fraud in the company's native application, empowering it to pursue its expansion strategy to augment product purchases and transactions via the app. As a result, the enterprise was able to mitigate the security and fraud obstacles while increasing the worth of transactions processed through the native application.Daon has established a strong presence in the Asia-Pacific region, expanding from a single office in Australia 15 years ago to now operating in six locations across the country, including Sydney, Adelaide, Melbourne, Canberra, Brisbane, and the Gold Coast. The local team supports enterprise level contracts with various leading Australian Banks and Telcos. In addition, Daon also has a team based in Singapore supporting Singapore's Tonik bank, SMFG/SMBC in Japan and an impressive portfolio of clients in Hong Kong, including Standard Chartered Bank's Mox Digital Bank and the Hong Kong Jockey Club. Daon's broad reach extends throughout the region, highlighting its growing influence and success. ES
< Page 9 | Page 11 >