Financial service providers have an important and ever-increasing role in emerging digital identity ecosystems. The authors investigate the potential positive impacts digital identities can have on underserved markets and how financial institutions can help to responsibly and inclusively grow digital identities by adopting the latest emerging technologies.
Financial institutions are well positioned to act as trusted, regulated players that can provide the building blocks for responsible digital identity initiatives by empowering individuals to control and extract value from their digital identities in a secure and inclusive manner. Financial institutions, as trusted data custodians and veteran risk managers and are well positioned to be at the forefront of protecting client privacy and ensuring financial well-being.
Originally posed on IIF’s website.