For decades, browser cookies have been a crucial tool for organizations to link users to devices and online activities, serving as a foundational mechanism for fraud prevention and detecting abusive behavior.
By tracking cookies, companies could establish connections between user identities and the devices or sessions used to access accounts or make transactions. This allowed them to flag suspicious device fingerprints, identify coordinated identity fraud attempts across multiple users/devices, and for general fraud monitoring. The ability to reliably tie online users to specific devices and digital fingerprints was indispensable for mitigating a wide range of fraud and abuse use cases.
These evolving privacy regulations and browser policies have put up roadblocks for traditional user identity verification methods, rendering them less effective for identity fraud prevention and risk mitigation at financial institutions.
As a result, many are adopting alternative technologies like device intelligence solutions that use device data and machine learning to create unique device “fingerprints” without relying on personally identifiable information or intrusive tracking. Some are also exploring biometric authentication methods like facial recognition and behavioral biometrics. However, implementing these technologies requires balancing effective identity fraud prevention with respecting user privacy through data protection practices, transparent policies, and regulatory compliance.
Addressing the Limitations of Cookies and Mobile App Storage
Though third-party browser cookies are going away soon, there are other options for organizations that address the limitations of conventional tracking methods.
As part of Socure’s Digital Intelligence Suite, Entity Profiler represents a paradigm shift in how organizations establish online identities and enable trust in digital interactions. By establishing comprehensive digital pictures of users’ identities, Entity Profiler is the first machine learning solution to fuse digital footprints and session intelligence with authoritative data in a singular view of identity.
By considering the recency, frequency, and context of historic transactions and behavior, this approach allows for a more dynamic and accurate assessment of identity and device ownership while adapting to new privacy standards. Socure’s system can confidently assert the identity of a consumer who has consistently used similar PII, IP geo-location, mobile devices, operating systems, and browser languages over multiple years and across varying institutions to create a unique and persistent digital footprint.
A Data Set Fraudsters Can’t Buy
One of the most significant advantages of Entity Profiler is the inherent security and resistance to manipulation of the data it generates. Unlike traditional forms of data that fraudsters may exploit, the information aggregated by Entity Profiler is intrinsically linked to users’ digital interactions, making it significantly more challenging for fraudsters to impersonate legitimate users or bypass identity verification measures.
Entity Profiler provides organizations with a new dimension of data that transcends static identifiers like usernames or passwords. By analyzing users’ digital behavior patterns over time, Entity Profiler creates rich historical profiles that serve as powerful tools for identity proofing. This comprehensive dataset enables organizations to detect anomalies and suspicious behaviors with unparalleled accuracy and confidence.
One of the key strengths of Entity Profiler lies in its server-side aggregation approach. Unlike client-side tracking methods that are vulnerable to browser restrictions and privacy settings, Entity Profiler aggregates data directly on the server. This approach creates linkages from Personally Identifiable Information (PII) to digital data, ensuring the solution’s effectiveness and reliability in the face of evolving technological and regulatory landscapes.
Establishing a Comprehensive Digital Picture
In a world where traditional tracking methods are rapidly becoming obsolete, Entity Profiler represents a leap in online identity proofing, offering a robust and future-proof solution for organizations navigating the complexities of a post-cookie world. As the digital landscape continues to evolve, Entity Profiler will adapt in tandem, meeting emerging challenges with features like anomaly detection algorithms, integration with emerging data sources, and deeper collaboration with regulatory bodies to ensure compliance.
By addressing the limitations of conventional techniques, providing data that fraudsters cannot easily obtain, establishing comprehensive digital pictures of users’ identities, and leveraging server-side aggregation, Entity Profiler empowers organizations to combat identity fraud with unparalleled accuracy and confidence.
Sam Bouso is Senior Director of Product at Socure. Sam has over a decade of experience in building industry leading fraud prevention solution and overseas Socure's AI platform, Feedback Systems, and Digital Intelligence Suite.
Socure is the leading platform for digital identity verification and trust.
Its predictive analytics platform applies artificial intelligence and machine learning technology with trusted online/offline data intelligence from email, phone address, IP, device, velocity, and the broader internet to verify identities in real time.
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