Liminal recently joined a webinar hosted by Twilio, “Unveiling the Future: Redefining User Authentication and Fraud Mitigation.” The discussion, featuring experts Cameron D’Ambrosi from Liminal and Adam Elboim from Twilio, focused on the evolving landscape of customer authentication, emerging fraud tactics, and the shift from legacy systems like SMS OTPs to more secure technologies. New vulnerabilities were also highlighted, such as SMS Pumping Fraud, which accounts for 5.4% of all international traffic (excluding US/CA).
Addressing the Challenges in Customer Authentication
The core challenge in customer authentication is adopting advanced, passwordless technologies that meet business security needs while ensuring ease of use and consumer trust. Despite the availability of cutting-edge solutions, many businesses are hesitant to transition from traditional multi-factor authentication (MFA) methods. Concerns about the cost of change, the complexity of new technologies, and educating consumers contribute to this hesitancy.
Liminal’s Market and Buyer’s Guide for Customer Authentication
Insights from Liminal’s Market and Buyer’s Guide for Customer Authentication provided valuable context during the webinar. This research report highlights the need to integrate advanced features into authentication solutions to boost security while ensuring a user-friendly experience. The total addressable market is forecasted to grow from $18.0 billion in 2024 to $38.9 billion by 2028 at a CAGR of 16.6%. This significant expansion reflects the increasing demand for effective customer authentication solutions.
Exploring the Future of Authentication
The webinar explored various aspects of digital authentication, focusing on:
- Effective methods of user verification and what’s proving successful.
- Long-term trends in AI and authentication technologies.
- Strategies for combating emerging threats, such as SMS Pumping Fraud.
- How businesses can maximize security with fewer resources to protect their bottom line.
Liminal’s participation in the webinar reflects a commitment to advancing the field of customer authentication and fraud mitigation. Stay tuned for more discussions on securing digital identities in a rapidly changing environment.
