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The Future of Digital Identity

– Deloitte

How digital identity can unlock revenue and improve efficiency, as well as the barriers that stand in the way

The authors write that currently, if a customer has a digital identity at a bank, it is unlikely to be interoperable with other services the bank offers, or with other financial institutions. They outline the findings of the Deloitte report, which argues that a digital identity solution must be designed to work alongside other ID schemes.

“The system should be designed so that it could, ultimately, be part of a wider ecosystem involving many other organizations, thus allowing the same digital identity to be used across all of them.”

The article states that this streamlining of identity will require legal protection around people’s personal data, and urges organizations to consider data privacy regulations when implementing identity schemes.

It is vital for all C-Suite executives, and their equivalents in government, to put digital identity at the center of their data-driven business models and operations and understand its impact. It is their decisions that will determine if their organization can differentiate itself from others and lead change, or be left behind

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