Identity as a service: foundation of the digital economy?

As the world migrates towards a more virtual economy, digital proof of identity will help accelerate the adoption of all kinds of digital services - in welfare, banking, e-commerce, healthcare, to name a few. By safeguarding privacy and security, better digital identities would not just only improve user experience, but will also help users have easier and quicker access to the service of choice. New digital systems are creating new opportunities against fraud and cybercrime. Privacy and data protection are crucial for the construction of a safe and effective digital economy. For the digital economy to thrive, there needs to be sufficient security in transactions that users feel comfortable and safe sharing their data for companies to use to drive value and offer more personalised services. For this, we need to upgrade the way we acquire digital consent and authentication - moving away from legacy authentication practices towards digital ID and consent. The European Digital Identity framework presents a fresh take on thinking around identity. By allowing individuals to leverage their pre-existing data to digitally identify themselves elsewhere, the European framework offers users full data control and has the potential to revolutionise the way we authenticate online. In this episode of Worldline's Original Series ‘Transforming Payments for the Digital Age,’ we’re delving into the future of digital identity and discussing how incumbent banks could leverage the European Digital Identity framework to differentiate themselves from new digital players. Join the webinar to explore: - How the European Digital Identity framework will work in practice - Consent management and digital ID: a business case for banks and merchants - How companies can leverage their position to become the gatekeepers of identity for the digital economy - And more