Privacy has never been a popular topic. Businesses and individuals are calling for greater control over their privacy and navigating a new unknown with hybrid and flexible working remotely, all while walking the uncertain paths surrounding how trust and security work hand in hand.
National Computer Security Day on November 30th is built around raising awareness of cybersecurity and online security issues, and empowering individuals to own their identity and presence online. With the day fast approaching, how can a greater understanding of pain points, pressure points, and weaknesses help deliver a better online user experience?
Consenting data can enrich our digital experiences
The advantages of the data are not to be ignored: we absorb the content chosen by the algorithm, it is formatted for us in our news feeds, and more often than not we click on those ads that target us. None of this would be possible without tracking cookies and data collection.
But it’s not all sunshine and roses. People’s perception of web tracking is often negative, often associated with marketing exploits and e-commerce improvement. The questions surrounding the use of our online data are enough to get around the most daunting problem.
Is there a middle ground?
LAB flips the text on negative perceptions of web tracking by analyzing a user’s online kinetic behavior to understand whether that individual needs to experience modified and more secure financial services. And kinetic data is not really personal or identifying, unlike demographic data.
Sometimes a standard flight does more harm than good if it does not meet the needs of any individuals outside of the “normal” experience. Currently, there is no regulatory technology in place to help uncover vulnerabilities within financial services or the broader online journeys. However, the demand from both the Financial Conduct Authority (FCA) and consumers shows the need for a solution.
Our service (In-Browser Vulnerability Assessment or IBVA) uses machine learning to “customize” an experience to keep vulnerable people away from potential risks and harms, rather than tailoring it to diversion.
IBVA offers a game-changing RegTech solution to better serve vulnerable users during their online financial services journeys. It was built by a team of researchers, academics and business minds at the LAB Group.
The LAB Group unites multidisciplinary expertise across technology, marketing, data, communications and creativity to explore, challenge and push boundaries from every angle.
In an anonymous manner, our work to identify vulnerabilities aims to provide greater protection to individuals without compromising privacy. The IBVA model is based on unknown kinetic behavior, such as clicking or scrolling patterns, rather than more invasive personal data (such as demographic information).
By removing the need to store personal information online about your online presence or identity, the model is at the forefront of how data is used to your advantage, not anyone else’s. Imagine if this prototype paved the way for a new way to help those most at risk. National Computer Security Day focuses on user security, and the IBVA model really provides the opportunity to create a safety net for those who need it most.
In the end, it is not so much about the data being collected as it is about the intent of why and how it is used.
Natasha Kingdon, Executive Director of Insight and Innovation at VERJ, an agency of the LAB Group.