The banks in question are Commonwealth Bank (CBA), National Australia Bank (NAB), ANZ (via ANZ Plus), and Westpac. Since its launch in 2023, ConnectID has been adopted by these banks to improve privacy and reduce unnecessary data exposure. Developed by Australian Payments Plus (AP+), ConnectID acts as an intermediary between trusted identity providers, such as banks, and businesses requesting user information.
This system leverages data already stored by financial institutions to verify users' identities during online transactions or sign-ups, reducing the need for customers to share full identity documents like passports or driver licenses.
The solution operates solely with user consent, and ConnectID itself does not store or access customer data, serving only as a technical facilitator. By enabling customers to share only the necessary information, ConnectID enhances control over personal data and limits exposure to businesses with varying levels of cybersecurity protections.
For businesses, digital identity solutions like ConnectID reduce the need to request, store, or manage sensitive data. This streamlines operations and mitigates risks associated with data storage and security. Industries such as retail, real estate, and human resources—where identity verification is crucial—are increasingly adopting these solutions.
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