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News and resources on digital identity, trust, biometrics and Secure Customer Authentication.

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Finextra's year in review

Finextra's year in review

With 2023 drawing to a close, we take a look back at our most popular news items, videos and community engagement activities over the course of the past year.

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Nexi sells Nordic eID business to IN Groupe

Nexi sells Nordic eID business to IN Groupe

The Innovation Pushing Digital Identity Forward: Part 2

The Innovation Pushing Digital Identity Forward: Part 2

Prove Identity raises $40m

Prove Identity raises $40m

Oz banks back digital identity network

Oz banks back digital identity network

Lloyds Bank rolls out proof of identity app

Lloyds Bank rolls out proof of identity app

Sam Altman's Worldcoin project launches

Sam Altman's Worldcoin project launches

Amazon rolls out palm payment tech to 500+ Whole Food Market stores

Amazon rolls out palm payment tech to 500+ Whole Food Market stores

Mastercard aims to boost trust for blockchain transactions

Mastercard aims to boost trust for blockchain transactions

Sweden's BankID launches digital identity card

Sweden's BankID launches digital identity card

IDPartner raises $3.1m for bank-based ID verification system

IDPartner raises $3.1m for bank-based ID verification system

More news
[New Event Report] Cloud innovation paves path to the future[New Event Report] Cloud innovation paves path to the future
Identity blogs
Digital Identity Management  

The Horizon of Identity Verification: New Threats and Future Techniques

Robert O'Farrell

Robert O'Farrell - ID-Pal - Dublin

Digital Identity Management  

Current Techniques in Identity Verification: Establishing a Chain of Trust (continued)

Robert O'Farrell

Robert O'Farrell - ID-Pal - Dublin

Banking  

New business strategy formula: Improve customer engagement in banking

Alex Kreger

Alex Kreger - UXDA - Riga

Digital Identity Management  

Current Techniques in Identity Verification: Establishing a Chain of Trust

Robert O'Farrell

Robert O'Farrell - ID-Pal - Dublin

See all /identity blogs »
Latest TV
See all TV »
The Innovation Pushing Digital Identity Forward: Part 2

The Innovation Pushing Digital Identity Forward: Part 2

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series. Continuing their discussion, they examine innovations driving digital identity including blockchain, offline verification of identity, anonCreds, privacy-protecting technology, linked secrets, and zero knowledge proofs.
The Innovation Pushing Digital Identity Forward: Part 1

The Innovation Pushing Digital Identity Forward: Part 1

Stephen Curran, Chair of the Board Of Trustees Sovrin Foundation, Identity Consultant, speaks with Andrew Smith, RTGS.global, in FinextraTV’s Tech Uncovered Series, discussing digital identity, covering the topics of self-sovereign identity (SSI) and Sovrin, verifiable credentials (VCs), the use of blockchain for identity, scalability of blockchain-based identity, and resilience.
The emergence of risk orchestration technology

The emergence of risk orchestration technology

Speaking at Trust:Live 2023, LexisNexis® Risk Solutions Market Planning Director, Chris Foye, discusses how risk orchestration technology is transforming the way in which organisations evaluate and build digital trust with their customers.
The advantages of behavioural biometrics

The advantages of behavioural biometrics

Speaking at Trust:Live 2023, Chief Architect of LexisNexis® BehavioSec™, Neil Costigan and LexisNexis® Risk Solutions Director of Market Planning, Fraud & Identity, Rob Woods, discuss why behavioural biometrics are important in building digital trust with online users and how this technology is evolving to meet emerging online threats.
The long read
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Madhvi Mavadiya

Identity verification: How to strike a balance between speed and security

Madhvi Mavadiya - Finextra Research
Discussion
Amazon rolls out palm payment tech to 500+ Whole Food Market stores
A Finextra Member

A Finextra member

  Convenient, but a bit big brother!    

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No Caller ID: Stopping the onslaught of fraud text messages and phone calls
Ketharaman Swaminathan

Ketharaman Swaminathan

  TBH these measures have been tried for years but they don't work in actual practice.  Let's take #2. Genuine employee XYZ in my bank does not know what genuine employee ABC has told me. If I call the call center, there's no way on earth that genuine employee PQR will know what I'm talking about.  Now let's take #3. Genuine message from bank warns me to inspect the incoming URL very carefully and tells me to click an extremely dodgy - but genuine - URL to learn more.  Lest anyone question the creds of these banks, they're among the three largest banks in India and 20 largest banks in the world.  It's obvious to me that this is banks' way of stonewalling "drunk under lamp post" regulation holding them unilaterally responsible for scams. After all, shareholders of banks will not be happy with their management for absorbing losses caused by customers' (mostly) faulty actions.     IMO the one thing that might work is shared responsibility according to my Three Strike Rule To Eliminate Cybercrime.

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2023 – the year of the digital ID wallet
Andrew Smith

Andrew Smith

  Some of this is over complex. For example, we dont need an open policy framework where my wallet knows what jurisdiction I am in. For identity to work, I need to have an ID that is accepted in the US and an ID that is acceptable in the EU. This doesn't mean its the same ID, rather it could be from a different set of identity credentials i hold, some that can be shared. If we keep things simple, by following a Self-Sovereign Identity (SSI) model and its principles, then most of the challenges are mitigated. Digital ID should be SSI simply because a) its my identity I should own it, no third party ever does, and only with SSI can I really control it, and b) because it solves so many of the challenges associated if data isn't self sovereign.  Where governments really need to start looking is at privacy and security of digital ID solutions - and thats not just the wallet, thats the TYPE of credentials that are stored and how capable they are with regards to zero knowledge proofs (ZKP) and selective disclosure. Then if I move between jurisdictions it is a technology thing, if the US supports AnonCreds for example, and the EU does, then all challenges are solved.... A good post here explains the issues with credentials and why we need to ensure that a minimum bar is met with regards to privacy for most identity based solutions. If that bar is consistent, then policy becomes a matter of what types of credentials are trusted and supported primarily.  A call for trust, a call for privacy, a call for AnonCreds – ID Crypt Global News and Blog

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Why does digital trust matter for businesses?
A Finextra Member

A Finextra member

  I don't agree with this. I can get trust from the service via technology using true digital identity without friction and without challenging everytime. Digital Identity can be and is with certain solution, significantly more trustworthy than phyiscal identity. Fraudsters are able to pic at the cracks in risk based approaches - this is why push payment fraud is growing. Again, true digital identity can combat this significantly. 

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Featured
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Banking associations want payments removed from EU digital identity plan

Banking associations want payments removed from EU digital identity plan

NatWest rolls out digital ID service

NatWest rolls out digital ID service

Mastercard certified as digital ID provider in the UK

Mastercard certified as digital ID provider in the UK

Central Bank of Ireland blocks staff use of ChatGPT

Central Bank of Ireland blocks staff use of ChatGPT

The long read
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Níamh Curran

The Future of Digital Identity: Separating the digital from the individual

Níamh Curran - Senior Reporter - Finextra
Elsewhere...

  1. The Telegraph

    Identical twins told not to use ‘Face ID’ on banking apps

  2. Wired

    Stripe discriminates against witches

  3. The Record

    Hacker steals government ID database for Argentina’s entire population

  4. Motherboard

    Ransomwared bank tells customers it lost their SSNs

  5. BBC

    Klarna: 'I got a £30 bill - but I didn't buy anything'

The long read
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Hamish Monk

The Future of Digital Identity 2022: Equitable development and accessing digital identity

Hamish Monk - Writer - Finextra