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Abstract
The financial sector has increasingly adopted digital identity verification as a means of strengthening security protocols. This short research paper examines the role of digital identity verification in mitigating security risks within financial institutions. Through a review of existing literature and an analysis of case studies, the paper explores the effectiveness of digital identity verification compared to traditional methods. The findings reveal that digital identity verification significantly reduces the incidence of security breaches, though it is not without its challenges. The paper concludes with recommendations for improving the adoption and implementation of digital identity verification technologies in financial institutions, emphasizing the need for ongoing innovation to address emerging security threats.
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