Knowledge Theatre 2 - Day 2
"Developing a digital identity scheme for financial services in the UK"
Verification of an individual’s identity is an essential tenet of UK financial services regulation, yet no universal facility to enable the consumer to fully identify themselves online currently exists (the verification meeting all regulatory requirements).
TISA is leading an industry project to develop a Digital Identity for UK consumers that includes leading retail banks (such as Barclays, HSBC, Lloyds and Santander), Identity Providers (including Experian, the Post Office and Lexis Nexis) as well other Financial Services (such as Fidelity, Zurich and DST). This Digital Identity will be a key enabler in the digitalisation of financial services in the UK
The talk will cover the work undertaken including a prototype for the Digital Identity, a set of standards, an outline of a Trust Framework, a technical approach and a business plan for the roll-out of the Digital Identity across UK financial services. This project is fully collaborating with the work being undertaken by the Government Digital Service and its Verify scheme.
Harry Weber-Brown is the Digital Innovation Director for TISA which includes managing a Digital Identity project for consumers of financial services products, which includes many of the High Street Banks, Identity Providers and a range of other financial services. He has also managed identity projects including a European Commission funded project that focused on opening bank accounts across European borders, using Digital Identity, delivered through the eIDAS framework.