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February 13, 2024One of the well-known XYZ Bank tried something new and advanced to go beyond the identity verification process and introduce a modern Know Your Customer (KYC) system. An entrepreneur also a tech-savvy Alex Reynolds, decided to open an account in XYZ Bank. Documents required from Alex for the digital onboarding process giving standard identification documents: financial statements, passport, and bills.
The digital footprint checker helps the KYC process in Alex’s case and as soon as he enters into the process his e-commerce transactions and social media profiles are analyzed. In the modern world digital identity is far more important than information from traditional documents as it gives a critical and real-time assessment.
In this virtual scenario, the tool detects something very dangerous on one of Alex’s social media accounts: an attempted identity theft and a phishing attack. Unlike traditional KYC systems, advanced digital footprint checker algorithms detect this breach. In response, the bank’s security staff quickly intervened, immediately texting Alex and implementing additional security measures. An attempt at identity theft has been thwarted
Top Digital Footprint Trends of 2023
| Social Media Tracking | According to Statista, Globally, over 4.59 billion people used social media in 2022, with that figure expected to rise to nearly six billion by 2027. The Philippines is currently the country that spends the most time on social media per day, spending an average of 3 hours 53 minutes on social media each day.
Social media can record the activities of individuals and convert the data into relevant traffic. The use of social networks and mobile services enables the tracking of digital data, including individual interests, social groups, behavior, and situations. |
| IP Tracking | IP tracking is the process of locating a device based on its IP address. An IP address is an interesting identifier doled out to gadgets when they interface with the internet. IP following can be utilized for various purposes, including checking online activities, users, and copyright implementation. |
| Phone Number Tracking | Phone number tracking is a technique for finding devices in light of phone numbers. Phone numbers can be connected to actual addresses and other individual data. It makes them valuable tools for users for activities such as offline and online. |
| Physical Addressing Tracking | The physical address of locating a device is called Physical addressing. This should be possible by taking the location straightforwardly from the user or by utilizing different strategies like opposite IP query. Actual addresses can be utilized for different purposes, like delivery of packages, targeted advertisement, and following user movement across the internet. |
| Location Tracking | GPS or W–Fi signals help in locating the device this is called Location tracking. It is used for various processes such as out-of-the-box navigation, tracking users’ health goals, and targeting ads. |
Also Read: 5 Reasons Why You Should Regularly Check Your Digital Footprint
The Future of Digital Footprint Checker
The evolution of technology also evolved the digital footprint as with the advancement of new technologies like artificial intelligence and machine learning, this will increase the impact of the digital footprint. The advancement of technology also brings threats as well as new opportunities regarding privacy, security, and the use of personal information.
Digital footprints are not a bad thing as in today’s world they help an individual to open a horizon of new opportunities and also shape your online identity. Digital footprint management is critical as most people do not see it as an asset but think of it as a liability. The awareness and proactive approach help people understand that digital footprint is an asset.
The efficiency and future of digital footprint checker is based on the innovations and advancements of artificial intelligence and machine learning which help in increasing the attention to privacy and data management. The tool helps the user to track their digital footprint and also analyze online activities.
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Belal possess over 8 years experience in the KYC Identity Verification industry. He has consulted KYC solutions for over 20 new economy companies at DIFC and ADGM while ensuring a seamless technical integration and helped in jurisdictional compliance audits.
