Join me at the WeFightFraud L23 conference on the 27th April at the Tower of London for a fascinating panel discussion with myself, Ben Allen Compliance Director of The Right Mortgage Network and Andy McDonald of WFF as we explore if a move towards one ‘trusted’ identity could be viable, and how criminals may try to bypass or exploit it in the future.
Financial institutions are really well placed to ensure this, as we have seen across the rest of Europe, why not us? In the Nordics, for example, by deciding not to compete on digital identity and instead work together, the banks were able to create identity schemes that consumers could use with a number of providers and which were accessible to the majority of the country’s population immediately.
More financial services providers got on board as it became clearer that it was better to be part of the scheme and risk customers migrating to new suppliers with ease, than to be outside the scheme and lose customers to this new bloc of digital identity-enabled providers. Arguably, ‘the best way to have a trusted digital identity is to have that identity verification delivered from an entity that has the capacity to deliver risk management solutions. A bank can do that’.
For more info on WFFL23 and to get your ticket visit HERE.