In the age of digital technology, digital identity wallets offer users a transportable, secure way of verifying their identity and certifications. Having a reliable, up-to-date method of verifying identity enables enterprises to swiftly and securely manage procedures.
Switching to Digital Wallets
Digital wallets provide a flexible, streamlined experience for enterprises, employees, third-party contractors and business-to-business transactions. In spaces where transactions are high-risk, having a secure, verifiable identity to cross-reference is vital to security. Digital wallets can verify end users for active attorney license statuses, active medical licenses or to prove cybersecurity certifications, such as Certified Information Systems Security Professional (CISSP). These can follow employees throughout their employment.
Utilizing digital wallets in decision-making spaces can help verify end users in addition to their every-day authenticators, similar to step-up authentication. Digital wallets verify identities, eliminating the need for social engineering. If credentials are needed to gain privileged user access, digital wallets help enterprises verify that the end user is who they say they are. For example, during emergencies, such as natural disasters, wallets can help verify that volunteers have active licenses in a timely manner.
1Kosmos’s Enterprise Identity Wallets
1Kosmos enterprise identity wallets deliver centralized, scalable identity management that enable organizations to securely provision and govern employee digital identities, credentials and access privileges across their entire technology ecosystem.
First, 1Kosmos verifies the end user by validating and verifying their provided documentation. Once verified, 1Kosmos creates a digital wallet by collecting, encrypting and storing an end user’s identification information in a private and permissioned ledger, allowing only the end user to access and share their personal data on their own initiative. This information cannot be accessed by 1Kosmos, as it goes through several layers of encryption.
These wallets are built with World Wide Web Consortium (W3C) standards, providing an interoperable experience and enables users to reuse wallets and access their identification as often as needed.
1Kosmos’s Digital enterprise identity wallets are classified through a decentralized management system. 1Kosmos’s private, distributed ledger breaks up end users’ identification wallets, updating new certifications and licenses in its own personalized block, utilizing blockchain in the back end to provide a layer of security to encrypt information. Permissions are access based, providing a layer of security through segmentation. 1Kosmos’s wallets utilize attribute-based access control (ABAC) security, granting permissions based on matching data tags. With the proper credentials, end users can access files instantly.
Protection for High-Risk Transactions
1Kosmos’s enterprise identity wallets have an array of features that make them perfect for high-risk transactions. The wallets have a private and permissioned ledger, offering a distributed identity experience over a centralized one. With Presentation Attack Detection (PAD) Level 1 and Level 2 certifications, 1Kosmos offers protection against deep fake attacks. 1Kosmos offers continuous vulnerability management, FedRAMP high authorization, Kantara certification and Federal Information Processing Standards (FIPS)-140-3 encryption. Perfect for enterprise use and a diverse set of end users, 1Kosmos’s wallets can verify identity, ensuring that all processes are efficient and secure.
Visit 1Kosmos’s page to learn more about their full service, privacy preserving enterprise identity wallets.
