White Paper

Should Banks Be the Guardians of Digital Identity?

Produced by Finextra in association with HID Global
Often pushed by digitally-minded governments, there are digital identity schemes at all levels of maturity worldwide, evolving differently in different markets.

Banks have been able to leverage their trusted role in the economy, as well as their technical expertise and experience with shared infrastructure, to drive a level of success for opt-in digital identity schemes that governments have not been able to achieve on their own.

But banks can’t take their prime position in digital identity for granted. Regulations and market structure can change, and new competition will emerge.

If banks get digital identity right, they stand to benefit from streamlined sales processes and customer onboarding, reduced losses from fraud and regulatory fines, and the potential for new revenue-generating identity-based products and services. More importantly, they can maintain their central role as arbiters of trust and stay relevant in the transforming digital economy.
To learn about the latest worldwide developments in digital identity models, biometrics and other techniques used to authenticate access to all or part of a digital identity, download our white paper, Should Banks Be the Guardians of Digital Identity?

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