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Digital Identity Trust Scheme Pilot for Home Buying and Selling

– Propertymark

  • News
  • Posted by Good ID team (Good ID)
  • 22 October 2021

The MyIdentity scheme enables a one-time identity verification for home buyers and sellers

Propertymark has developed a digital identity scheme called MyIdentity. Beginning in October, the six month pilot will be introduced to several UK cities. It will enable home buyers and sellers to verify their identity once.

“MyIdentity will allow participants in the Scheme to trust an identity proof provided by third party Identity Providers (IDSPs), who are subject to audited certification and regulation.”

Users can then consensually share this verification to other third parties who require identity verification throughout the process. Identity verification is frequently required by multiple parties to prevent money laundering and fraud. This scheme, supported by various stakeholders, can efficiently achieve this.

The project is supported by a governance team made up of representatives from stakeholder groups - government, IDSPs, estate agency, legal, and financial services

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