As more financial and commercial activity move online, businesses are seeking to bolster consumer security and confidence. In a 2007 report, Forester notes that thirty-seven percent of online shoppers concerned about identity theft have stopped buying online altogether, leading to an estimated loss of $40 billion in online sales. Gartner, in a 2008 report, reveals that most consumers consider security features extremely important factors that influence their decisions to bank online and do more online business with their bank.

In other sectors such as higher education and healthcare, where patient records and student data need to be protected, the significant benefits of online services could be forfeited due to data protection and user confidentiality concerns. Industry leaders and consumers alike recognize that there is a real need for stronger authentication to protect digital resources and alleviate consumer concerns about the risk of doing business online.

In this white paper, we take a look at how strong authentication can benefit eCommerce and online services. We will evaluate the risks that identity fraud, phishing and cybercrime pose for online service providers, and discuss how strong user authentication can alleviate these risks by increasing consumer confidence and protecting digital identities and resources.