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Photo: EyeEm / Milan Radulovic

Corporate Digital Identity: Big Challenges... And Big Rewards

– The Paypers

Digital identity for businesses can vastly improve efficiency, but a foundation of trust is required

Corporate digital identity allows customers to access services without the need for a human intermediary or clunky physical processes. This article outlines examples in which this kind of digital ID is fully developed, such as in Estonia, where companies can register and pay taxes without having to be physically present in the country.

“The success of closed networks, such as in Estonia, is likely to spur other countries to embark on similarly ambitious projects. Scalable global networks — in which banks are likely to play a pivotal role — are expected to take many years to emerge.”

While there is a critical need for a digital identity ecosystem that can minimize fraud, there is an absence of a global regulatory framework in order to make such a system interoperable. Building this will require a rethink of corporate strategy around data, as well as harnessing the powers of AI to process the resulting information.

Central to this is understanding the impact on entitlements to information, to ensure that only the right people are authorised and can access information

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