You can use the search function to find a range of UK Finance material, from consultation responses to thought leadership to blogs, or to find content on a range of topics from Capital Markets & Wholesale to Payments & Innovation.
We are in an increasingly digital economy. We communicate online, work online and shop online. This has helped people do the things they want and access what they need at a time and location convenient to them. To enable people to safely and securely interact and consume services online we have developed a range of mechanisms such as passwords, but even with current processes it can still be hard to prove your identity online. This is why we need a secure way to access services, prove who we are, control data and maintain privacy - and this is what a digital identity is.
A digital identity ecosystem is a vital tool for all digitally-enabled sectors of the UK economy. It is also a key enabler of other initiatives such as Smart Data and the development of an Open Data Economy that empower consumers to move their data around to find the best deals and access new products. It can also make it harder for criminals to impersonate us, reducing fraud and other forms of economic crime, while helping those who may have previously found it hard to access services due to a lack of ways to prove who they are. Digital identity is not about ID cards, as is sometimes suggested, it is about how we can all interact online more safely and more easily..
In September, the Digital, Culture, Media and Sport department (DCMS) and the Government Digital Service (GDS) released their workplan to enable a digital identity ecosystem. The workplan provides an exciting set of specific and tangible steps over the next few months, and we at UK Finance look forward to working with DCMS and GDS and others to ensure digital identity develops in the right way as government:
DCMS also highlighted the principles they will use to shape their approach:
These are all things we recognise as important to consider in the context of digital identity. As a next step DCMS released a questionnaire to gather more detail on where it can focus its effort. We look forward to working on behalf of our members to implement this enabler for the digital British economy.
Digital Identity to feature at the Digital Innovation Summit: 2-20 November - Free for members
Register now for the 2020 Digital Innovation Summit, UK Finance's flagship technology event with seven streams of content for members across Mortgages, Payments, Ethical AI, Economic Crime, Digital Strategy and more.
Digital identity will be a featured topic, including a panel session on Developing a Digital Identity Trust Framework for the Home Buying and Selling Process
Over three weeks a huge variety of content will be delivered via interactive debates, broadcasts, podcasts, lightning talks, videos, and interviews with senior decision makers. Every day, fresh content will be made available to delegates.
Register now and join the innovators and game changers that are reimagining financial services.
Jonathan Middleton, Principal, Technology and Digital Policy Delivery Coordination, UK Finance
2020 has been a watershed year for digital transformation, with myriad technologies deployed at scale and pace, to help society weather the storm. The event will review what the strategic priorities should be for firms keen to continue innovating at pace