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News and resources on digital identity, trust, biometrics and Secure Customer Authentication.

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Mastercard aims to boost trust for blockchain transactions

Mastercard aims to boost trust for blockchain transactions

Mastercard is teaming up with Web3 players on an on-chain identity and verification framework covering a variety of applications in payments, remittances, ticketing and NFTs.

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Sweden's BankID launches digital identity card

Sweden's BankID launches digital identity card

The Innovation Pushing Digital Identity Forward: Part 2

The Innovation Pushing Digital Identity Forward: Part 2

IDPartner raises $3.1m for bank-based ID verification system

IDPartner raises $3.1m for bank-based ID verification system

IFGS 2023: Paul Scully MP pushes for widespread use digital ID in UK

IFGS 2023: Paul Scully MP pushes for widespread use digital ID in UK

Banking associations want payments removed from EU digital identity plan

Banking associations want payments removed from EU digital identity plan

Regtech Fourthline scores €50 million funding round

Regtech Fourthline scores €50 million funding round

NatWest rolls out digital ID service

NatWest rolls out digital ID service

Mastercard certified as digital ID provider in the UK

Mastercard certified as digital ID provider in the UK

Trust:Live 2023: Evolving digital identity, intelligence and innovation

Trust:Live 2023: Evolving digital identity, intelligence and innovation

Lloyds invests £10 million in digital ID firm Yoti

Lloyds invests £10 million in digital ID firm Yoti

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[Upcoming Webinar] Payments Modernisation: Priorities for 2023[Upcoming Webinar] Payments Modernisation: Priorities for 2023
Identity blogs
Banking Strategy, Digital and Transformation  

What is mPIN code and does it fit in new mobile banking era?

Irina Latushkina

Irina Latushkina - AIROME Technologies - Singapore

Digital Identity Management  

How to reduce digital onboarding risks

Inna Demchenko

Inna Demchenko - Bank - Kyiv

Digital Identity Management  

Will The UK Follow The EU On Digital Identities?

Guillaume Forget

Guillaume Forget - Cryptomathic GmbH - Greater Nice Metropolitan Area

Inclusive FinTech  

Tackle Universal Digital Vulnerability With Modern Identity: Leave No One Behind

Adam Preis

Adam Preis - ForgeRock - London

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Latest TV
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The Innovation Pushing Digital Identity Forward: Part 2

The Innovation Pushing Digital Identity Forward: Part 2

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series. Continuing their discussion, they examine innovations driving digital identity including blockchain, including blockchain, offline verification of identity, anonCreds, privacy-protecting technology, linked secrets, and zero knowledge proofs.
The Innovation Pushing Digital Identity Forward: Part 1

The Innovation Pushing Digital Identity Forward: Part 1

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series, discussing digital identity, covering the topics of self-sovereign identity (SSI) and Sovrin, verifiable credentials (VCs), the use of blockchain for identity, scalability of blockchain-based identity, and resilience.
The emergence of risk orchestration technology

The emergence of risk orchestration technology

Speaking at Trust:Live 2023, LexisNexis® Risk Solutions Market Planning Director, Chris Foye, discusses how risk orchestration technology is transforming the way in which organisations evaluate and build digital trust with their customers.
The advantages of behavioural biometrics

The advantages of behavioural biometrics

Speaking at Trust:Live 2023, Chief Architect of LexisNexis® BehavioSec™, Neil Costigan and LexisNexis® Risk Solutions Director of Market Planning, Fraud & Identity, Rob Woods, discuss why behavioural biometrics are important in building digital trust with online users and how this technology is evolving to meet emerging online threats.
The long read
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Madhvi Mavadiya

Identity verification: How to strike a balance between speed and security

Madhvi Mavadiya - Finextra Research
Discussion
No Caller ID: Stopping the onslaught of fraud text messages and phone calls
Ketharaman Swaminathan

Ketharaman Swaminathan

  TBH these measures have been tried for years but they don't work in actual practice.  Let's take #2. Genuine employee XYZ in my bank does not know what genuine employee ABC has told me. If I call the call center, there's no way on earth that genuine employee PQR will know what I'm talking about.  Now let's take #3. Genuine message from bank warns me to inspect the incoming URL very carefully and tells me to click an extremely dodgy - but genuine - URL to learn more.  Lest anyone question the creds of these banks, they're among the three largest banks in India and 20 largest banks in the world.  It's obvious to me that this is banks' way of stonewalling "drunk under lamp post" regulation holding them unilaterally responsible for scams. After all, shareholders of banks will not be happy with their management for absorbing losses caused by customers' (mostly) faulty actions.     IMO the one thing that might work is shared responsibility according to my Three Strike Rule To Eliminate Cybercrime.

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2023 – the year of the digital ID wallet
Andrew Smith

Andrew Smith

  Some of this is over complex. For example, we dont need an open policy framework where my wallet knows what jurisdiction I am in. For identity to work, I need to have an ID that is accepted in the US and an ID that is acceptable in the EU. This doesn't mean its the same ID, rather it could be from a different set of identity credentials i hold, some that can be shared. If we keep things simple, by following a Self-Sovereign Identity (SSI) model and its principles, then most of the challenges are mitigated. Digital ID should be SSI simply because a) its my identity I should own it, no third party ever does, and only with SSI can I really control it, and b) because it solves so many of the challenges associated if data isn't self sovereign.  Where governments really need to start looking is at privacy and security of digital ID solutions - and thats not just the wallet, thats the TYPE of credentials that are stored and how capable they are with regards to zero knowledge proofs (ZKP) and selective disclosure. Then if I move between jurisdictions it is a technology thing, if the US supports AnonCreds for example, and the EU does, then all challenges are solved.... A good post here explains the issues with credentials and why we need to ensure that a minimum bar is met with regards to privacy for most identity based solutions. If that bar is consistent, then policy becomes a matter of what types of credentials are trusted and supported primarily.  A call for trust, a call for privacy, a call for AnonCreds – ID Crypt Global News and Blog

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Why does digital trust matter for businesses?
A Finextra Member

A Finextra member

  I don't agree with this. I can get trust from the service via technology using true digital identity without friction and without challenging everytime. Digital Identity can be and is with certain solution, significantly more trustworthy than phyiscal identity. Fraudsters are able to pic at the cracks in risk based approaches - this is why push payment fraud is growing. Again, true digital identity can combat this significantly. 

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How banks can obtain a valuable single customer view (SCV)
Ketharaman Swaminathan

Ketharaman Swaminathan

  During GFC, UK regulators mooted SCV for UK Banks in order to expedite the insurance payouts of failed banks. It got canned due to prohibitively high costs relative to the low frequency of potential use. Will it be any different now?

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Featured
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Central Bank of Ireland blocks staff use of ChatGPT

Central Bank of Ireland blocks staff use of ChatGPT

Finextra's top research reports of 2022

Finextra's top research reports of 2022

Finextra's top Future Series reports of 2022

Finextra's top Future Series reports of 2022

Finextra's top impact study reports of 2022

Finextra's top impact study reports of 2022

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Níamh Curran

The Future of Digital Identity: Separating the digital from the individual

Níamh Curran - Reporter - Finextra
Elsewhere...

  1. The Telegraph

    Identical twins told not to use ‘Face ID’ on banking apps

  2. Wired

    Stripe discriminates against witches

  3. The Record

    Hacker steals government ID database for Argentina’s entire population

  4. Motherboard

    Ransomwared bank tells customers it lost their SSNs

  5. BBC

    Klarna: 'I got a £30 bill - but I didn't buy anything'

The long read
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Hamish Monk

The Future of Digital Identity 2022: Equitable development and accessing digital identity

Hamish Monk - Writer - Finextra