Commissioned by Curity, a report with the input of 200 IT decision makers and 1000 consumers has indicated that businesses are being driven by the demands of consumers to implement digital identity interfaces. Around half of decision makers are fully aware of how digital identity can transform their business’s security and data trust with just as many participants willing to incorporate decentralised identity into their organisation’s security practices in the near feature for consumers’ data ownership.
While the consumer’s urge for secure authentication has converged with businesses taking action, adoption of digital wallets in the U.S.and UK still feels in an experimental phase with countries falling behind the EU’s 2024 rule that every countries must adopt a digital identity. Only 14% of EU member states have delivered one digital ID scheme while the EIDAS 2.0 regulation expresses the prospect of wallets as national digital identification solutions.
Prior to the Identity Week 2023 in Amsterdam a number of experts on digital identity will be surveyed with questions on digital identity in the context of the EU eIDAS2.0 Regulation, informing a discussion of findings with the attendees of the Identity Week, organised in a theatre seminar on June 14th.
The report spoke with consumers to understand their concerns in securely storing information in a digital wallet while there is a lack of infrastructure, namely governments developing nationals e-IDs.
Although 41% of consumers currently don’t use a digital wallet, 48% of those would definitely or probably consider using one in the future,
84% of ITDMs believe financial services will reap moderate or large benefits from incorporating digital identities.