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Industry Insights: Daon

Daon is a leader in Biometric authentication, and their Irish technology is at the edge of innovation. To gain insights into the industry and how they are transforming it, we sat down with Cynthia Williams, Channels Director of the Americas, and asked her about Daon’s groundbreaking software. 

  1. Q: Can you give some background on Daon Software as well as what sparked the creation of your products and offerings?
    • The need to know that the person accessing accounts and information is actually who they say they are sparked the creation of Daon Software. This is something that passwords and pins cannot provide.  
  2. Q: What types of identity authentication are currently available/typical in the market?
    • The answer to this is multifactor, but much of what is available today is not all that secure. Passwords and pins, even sending a code to a cell phone present issues.   
  3. Q: What makes Daon’s offerings unique?
    • With biometric-based proofing and authentication, you use a person’s face, fingerprint, and/or voice to validate the person is who they say they are. You can tie this in with additional data points such as government IDs (scanned), geographic locations, and devices to support ID proofing and authentication biometrics. Daon’s specific uniqueness, besides being in this specific industry for over 20 years, is that it can provide an integrated ID proofing and authentication solution. The competition can only provide point solutions at this time, (i.e. voice biometrics only).
  4. Q: What should companies in the Healthcare and other industries know about biometric authentication capabilities? 
    • It is widely used in the financial services sector, but for healthcare, it’s still growing in its use as more healthcare-related interactions go digital.  Insurance fraud costs the healthcare industry substantially, so this is one area that is an excellent fit, particularly for new client onboarding.
  5. Q: How can companies currently using other kinds of identity authentication benefit from biometric authentication?
    • It provides a higher degree of assurance that the person who is claiming to be a certain person, is not someone fraudulently accessing accounts and information. In addition, utilizing these platforms can substantially drive savings within the contact center as well as provide a frictionless customer experience in accessing what information and services they are seeking. This is a much better experience than having to answer multiple qualifying questions or dealing with MFA via a cell authentication.
  6. Q: How does Enterprise Ireland support the work of Daon?
    • As an Irish-based and originated organization, Enterprise Ireland provides invites to key events, helps with networking, and also helps support our own events with speakers and venues.
  7. Q: What major shifts in the industry have you noticed since the pandemic and over the last year?
    • The move to digital increased. For example, clients no longer want the overhead of going to a bank, scheduling an appointment, waiting to meet with someone, or manually filling out paperwork to open an account or submit for a loan.  
  8. Q: What will be some upcoming trends in the next 12 months in Biometric authentication?
    • We are seeing a lot of growth in ID proofing and will be seeing that become more mainstream for new client onboarding for banks, renting cars, and purchasing higher-priced items with loan commitments such as cell phones and cars. 
  9. Q: Why is the US an important market for Daon?
    • The market size is substantial, and several cities in the US are where many global businesses are headquartered.  

Daon’s ability to provide identity proofing without the need for extra documentation is a fantastic innovation in the industry, and we are grateful to them for providing us with the knowledge they have shared. We look forward to continuing to support them as they continue their growth in the US and globally. 

 

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