The Role of Banking in the Future of Digital Identity

According to a recent survey by Deloitte, nearly two-thirds of respondents said that global digital identity will be very important in the future despite the fact that digital IDs are still largely underused in the world today.

Newer digital identity verification methods, like biometrics, could provide far superior authentication protocols and offer customers more seamless experiences while protecting against fraudsters. Digital IDs could also greatly enhance the gig economy, where the identity of remote workers is paramount to the protection of valuable corporate and consumer assets.

While passwords are currently king, the development of universal digital recognition solutions that are both seamless and secure will eventually be the norm.

We are fortunate to have Dave Birch, Author, advisor and commentator on digital financial services on the show today. During the podcast, Dave discusses the benefits and risks of digital identity, the role of the banking industry, and how we must balance connected commerce with human rights.