The challenges facing financial institutions in the identity field are being conquered by the innovators taking the stage at Identity Week Europe 2024.See below what you’re missing without a full access conference pass!
ID verification and authenticationMichelle WheelerManaging Director – IdentityUnidays
ID for KYC in payments and financial servicesRob BrandSenior Policy OfficerDirectorate for Digital Economy at the Ministry of Economic Affairs and Climate Policy
Smart digital ID walletsGiorgia DragoniProject ManagerDigital Identity Observatory
Online fraudAntons Tocilins-RubertsData ScientistStarling Bank
ID and blockchainSajid IqbalVice PresidentHabib Bank AG Zurich
IOT needs CIAMAditya KumarSME /Solution Architect IAM/IOTVodafone Business
Decentralised identityBram van PeltArchitect eIDKPN
A summary: “Digital Identity in Finance” session at Identity Week Europe 2023
Last year, finance discussions touched upon the role banks play within the ecosystem to issue Bank IDs and maintain trust in comparison to the reputations that governments have over how customer data may be used.
Although the infrastructure has still not been built for most national wallets, the EU Digital ID Wallet made seismic impact on dialogue around payments credentials in 2023.
Like payment cards, the Digital Wallet and framework will be accepted everywhere as pilot consortiums like NOBID are mandating that every country issues a version of their wallet free of charge, so payment cards can be incorporated with ease. This will inevitably impact businesses and banks, while KYC, the sharing of attributes for banks’ verification protocols and data security still remain high targets.
Discussions compared banks across regions in Europe, with banks’ roles assessed differently in the UK which lacks a single government issued identity number, acting as the basis for a digital ID solution.
We heard about Norway’s preferred digital ID – the Bank ID – which has been adopted by 93% of the population for use authenticating into public and private services.
