Subscribe
|
|
|
|
|
|
|
News

New research finds organisations do not see the value of digital ID

Thursday 14 March 2024 14:48 CET | News

Open Identity Exchange (OIX) and Daon have released a new UK based research in cross channel identity and biometric solutions. 

According to the announcement, the study has revealed high levels of ongoing uncertainty around digital identity. The new UK research sought to benchmark relying party organisational thinking about digital identity, seeking to check what it means to different buyers in different industry sectors. 

The research highlighted that industry explanation and technical language adds uncertainty and confusion. Multiple different interchangeable descriptions were used during the research and meant different things to different respondents. There was an accompanying feeling that digital ID is therefore steeped in technical complexity, making it hard to understand. Organisations want to see real-life examples of digital ID in action, driving value for different types of organisations, use cases and, importantly, the end user experience.

Open Identity Exchange (OIX) and Daon have released a new UK based research in cross channel identity and biometric solutions.

The third core theme of the research is linked to language and value. Respondents in regulated businesses wanted clarity that regulators and industry professional bodies were comfortable with digital ID being used in their risk frameworks. They wanted confidence that it was transparent, could lead to required outcomes and met the standards and guidance that was required for their type of business. 

Furthermore, the study emphasises the importance of simple value explanations presented in straightforward language and confirming any risk framework guidance to instil confidence and foster interest in the market. Additionally, the research also revealed a perception of digital ID as disconnected and, to some degree, divergent. The findings suggest a lack of alignment between the private and public sectors, with emerging and evolving expectations in anticipation of regulatory guidance.  

The different global obligations around data access, standards, regulation, privacy and security have added to the view of digital ID as highly complex and an unfinished article. It is creating uncertainty rather than a view that the digital ID ecosystem is fit for purpose and ready to use. 

Unlocking digital ID potential 

The research focused on eight uses cases where digital ID will play a crucial role – recruitment, healthcare provisioning, retail credit, retail payments, wealth, home rental, gambling services and loyalty use cases. 

Officials at OIX stated that it is important that barriers to digital ID adoption are removed, as organisations will see vast benefits if digital ID is applied within these use cases. Part of the issue is the uncertainty they feel around digital ID solution providers. The research shows that they want providers they can trust and evidence that the solutions work. They’re looking for proven implementations, certification, and sector specific solutions. 

A key part of OIX’s mission is to provide education to relying parties to enable them to understand, accept and implement digital ID. This research helps the firm refine its focus on how it will achieve this goal. 

About The Open Identity Exchange (OIX)  

The OIX is a non-profit trade organisation on a mission to create a world where everyone can prove their identity and eligibility anywhere through a universally trusted ID. OIX is a community for all those involved in the ID sector to connect and collaborate, developing the guidance needed for inter-operable, trusted identities.  

About Daon 

Daon, the Digital Identity Trust company, enables organisations worldwide to easily and accurately proof, verify, authenticate and secure customer identities at every trust point across the entire customer lifecycle. With identity proofing and biometric authentication technologies at its core, Daon’s technology ensures that customer identities are accurately verified, safely secured and easily recovered. Daon delivers these solutions through its AI and ML-powered platforms, available for on-premise or SaaS deployment. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: digital identity, online security, research, biometrics, partnership
Categories: Fraud & Financial Crime
Companies: Daon, OIX
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

::: more

Daon

|

OIX

|
Discover all the Company news on Daon and other articles related to Daon in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events

Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like