Report reveals banks as the key to digital identity success. Digital identity is also an opportunity to solve banking’s existential crisis
What is an e-ID?
An e-ID system is the digital counterpart to a physical identification method in the offline world such as a passport, ID-card or driver’s license. It provides the credentials necessary to trust that a person is who he/she claims to be online.
A new report launched by strategy advisors Arkwright examines the success of digital identity in the Nordics, and explores how other countries can learn from this model.
The report, federated e-IDs as a value driver in the banking sector based on experience from Nordic markets, shows that banks in the Nordics not only make use of re-usable digital identity but also become digital identity service providers, enabling digitalisation and new business models within the public and private sector. Using these providers, citizens and business users can access their services of choice quickly, easily and safely. With identity a key component of establishing mutual trust, there exists a multi-billion-dollar global market opportunity for those willing to take it.
Success factors & Benefits - experiences from the Nordics
The report is available for download below.