Identity news

Identity headlines

Socure and Oscilar to combine risk management with ID verification

30 May

Over a third of fraud attempts targeting financial institutions now use AI

30 May

Fido Alliance introduces Face Verification Certification for remote biometrics

29 May

Treasury Prime gets onboard with Footprint

28 May

Footprint raises $13 million to automate consumer onboarding

21 May

SurePay joins forces with FIS on verification and Confirmation of Payee

21 May

Trulioo appoints David Liu as SVP of fraud and risk

15 May

Koodoo taps Resistant AI for document fraud checks

15 May

N-iX and Mitek form ID verification partnership

14 May

Data Zoo closes $22.7m Series A

14 May

More /identity announcements »

EBAday 2024: 100 banks registered and ready to fuel the payments technology conversation

Q. What does the payments sector look for in a conference? A. The number of banks registered to attend and the number of bank speakers on the agenda, ready to openly communicate to the audience how they are currently leveraging technology.

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Australia passes Digital ID Bill

Confirmation of Payee & Account Verification: Addressing the rising complexity of fraud

CommBank's x15 Ventures rolls out Truyu digital ID app

SoFi fined $1.1 million over flawed ID programme that led to multi-million dollar fraud

Fime acquired by Gallant Capital

Permira to take majority stake in BioCatch

NextGen Nordics 2024: Can behavioural biometrics fix fraud?

Emirates NBD carries out PoC for digitally native trade documents

EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption

Insurers target crypto market

[Webinar] Payments Modernisation: What are Financial Institutions prioritising?

[Webinar] Payments Modernisation: What are Financial Institutions prioritising?

Identity blogs

Digital Identity Management

Better Data, Better Business: Combat Identity-Related Fraud With the LEI

Clare Rowley

Clare Rowley - Global Legal Entity Identifier Foundation (GLEIF) - Basel

Digital Identity Management

Navigating the Dynamic Seas of Digital Identity in Insurance

Adam Preis

Adam Preis - Ping Identity - London

Innovation in Financial Services

Public sector credentials to all wallets - to cross the death walley

Bo Harald

Bo Harald - Transmeri, Demos, Real Time Economy Program,MyData - Helsinki Region

Data Management and Governance

Why those in financial services must spring clean their customer databases

Barley Laing

Barley Laing - Melissa - London

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Latest TV

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Confirmation of Payee & Account Verification: Addressing the rising complexity of fraud

At NextGen Nordics 2024, FinextraTV and Kannan Rassapan, CEO of Banfico, dive into the evolving landscape of account verification services and Confirmation of Payee (CoP) implementation in the Nordics. Learn how these initiatives combat rising fraud and explore how current efforts in Europe and around the world can help to tackle fraudulent activities. Uncover the challenges associated with implementing a pan-European solution to meet regulatory requirements and ensure secure transactions across borders.

Upcoming changes in PSD3: The impact on 3DS ACS solutions

Yogesh Patel, CTO at Outseer, discusses the impact of new PSD3 regulations on 3DS solutions, what should be front of mind for issuers as a result and what to expect from the VISA & Mastercard protocol updates. We hear how data science plays a role with 3DS solutions, the key capabilities to expect from an ACS and how consortium data can help catch more fraud, specifically for CNP transactions.

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

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 long read

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Madhvi Mavadiya

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

Madhvi Mavadiya - Finextra Research

Discussion

EBAday 2024: The future of CBDCs, tokenised deposits and stablecoin adoption

Jeremy Light

Jeremy Light

"we must not forget the contribution that retail central bank money has made to monetary and financial stability." The BoE ties itself in knots trying to justify a retail CBDC - in the same speech the deputy governor admits that cash has dropped from around two-thirds of transactions twenty years ago to 14% in 2022. This drop has had no impact on monetary or financial stability and it demonstrates consumers have no preference for central bank money over commercial bank deposits (and I doubt most have any idea of the difference risk profiles of the two). In the past, cash was a source of instability as it provided a mechanism for a bank run, with depositors able to withdraw their savings en masse. Nowadays, if a bank is in trouble depositors are highly unlikely to withdraw cash at scale but instead transfer deposits electronically to other banks (as happened with Northern Rock in 2008) - the banking system may freeze up for a while as banks refuse to lend reserves to each other when large volumes of deposits are transferred between banks, but the total value of deposits in the banking system remains the same and locked-in without cash withdrawals. A retail CBDC would reintroduce this stability risk if depositors are able to withdraw deposits instantly out of the banking system electronically into a retail CBDC, causing a run on multiple banks. The interesting aspect of this speech is that a wholesale CBDC is gaining traction in the BoE's plans. A wholesale CBDC is in the sweetspot of a central bank and has some real benefits - hopefully the BoE will focus more on a wholesale CBDC and quietly kick the retail CBDC idea into the long grass.

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UK fintech to be elevated to 'ubiquitech' with Smart Data Roadmap, new report reveals

Andrew Smith

Andrew Smith

I think some of the commentary in here shows a lack of understand of privacy and the challenges. It also shows a lack of understanding on how you can deliver trust without compromising on privacy. It's a grave concern that we still do not understand the importance of digital privacy, without it we are all exposed to a host of issues.

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MPE 2024: What will be the impact of a digital euro?

A Finextra Member

A Finextra member

Much indeed. But to my conjecture,society is already controlled digitally. Does your bank tell you how much you can withdraw daily? private companies have rules that restrict free movement. CBDCs will match the governance of each country but more so this technology empowers economies globally who have been disenfrenchised for generation. The dollar has restricted and weakened economies globally to only buy goods and services at a cheaper rate. A reshift is necessary.

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If you don't know where you are going, any road will do..

Bo Harald

I assume that you agree with the importance of both having a shared mission - and the importance of Trust over IP, Self-sovereign Identity and the work in Open Wallet Foundation.

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Featured

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TransUnion launches AI-powered data analytics platform

Klarna rolls out autofill consumer verification data service

Mastercard bids to kill passwords with new biometric service

Finextra's top impact study reports of 2023

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...

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