The service would aim to provide a simple and secure way for customers to choose to use their preferred banking app to verify personal details online, such as their name, age or address, when this is required by a third party.

Any future service would be voluntary and based on explicit customer consent, with customers remaining in control of what information is shared and when.

The service could help make digital transactions safer, quicker and more convenient by reducing the need for customers to repeatedly provide documents, while helping businesses verify information more reliably.

Following proof-of-concept testing, participating firms are now preparing for an initial pilot phase to test how the service could work in practice with selected third parties.

Potential use cases could include age or identity verification for online services, online purchases, property transactions, or opening an account online.

Further enquiries can be sent to Phillip.Mind@ukfinance.org.uk