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A Blueprint for Digital Identity

– Deloitte

  • Report
  • Posted by Good ID team (Good ID)
  • 7 December 2020

This report from Deloitte explains how digital identity might be implemented, and argues that financial institutions should take the lead

The report outlines how digital identity is a problem for FinTech - identity verification processes still depend on physical documents - but financial institutions are ideally placed to develop a digital identity solution because this already forms a large part of their work.

“But digital identity isn’t relevant to financial services only. Think about the public services that require proof of identity: old age security, unemployment insurance, education, healthcare, polling and more.”

The report outlines five guiding principles for digital identity systems, including support for social good, privacy and user-centered, as well as sustainable and open sourced.

An identity system should provide identity to all users, serve user interests and be open to all who wish to participate. Financial institutions, with their many user relationships, can influence this inclusiveness and help drive system adoption

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