The Role of Banking in the Future of Digital Identity
Digital IDs are, for the most part, a young and unadopted technology — particularly by the traditional banking industry. However, as they grow more popular, it’ll be important that banks and credit unions understand the benefits and risks of KYC and digital identity verification, says David Birch.
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FEATURING: David Birch, Author, advisor, financial services commentator
According to a recent survey by Deloitte, nearly two-thirds of respondents said that global digital identity will be very important in the future despite the fact that digital IDs are still largely underused in the world today.
Newer digital identity verification methods, like biometrics, could provide far superior authentication protocols and offer customers more seamless experiences while protecting against fraudsters. Digital IDs could also greatly enhance the gig economy, where the identity of remote workers is paramount to the protection of valuable corporate and consumer assets.
While passwords are currently king, the development of universal digital recognition solutions that are both seamless and secure will eventually be the norm.
We are fortunate to have David Birch, Author, advisor and commentator on digital financial services on the show today. During the podcast, Dave discusses the benefits and risks of digital identity, the role of the banking industry, and how we must balance connected commerce with human rights.
About the Banking Transformed Podcast
In each Banking Transformed podcast, host Jim Marous has candid conversations with the world’s foremost leaders on what it takes to transform financial institutions during an age of digital disruption. His guests discuss technology, channels, innovation, customer experience, leadership, culture and competitive forces that are changing the banking industry faster than ever before.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the Digital Banking Report. The Digital Banking Report is a subscription-based publication that provides deep insights into the digitization of banking, with over 150 reports in the digital archive available to subscribers.
Named as one of the most influential people in banking, Jim Marous is an internationally recognized financial industry strategist, co-publisher of The Financial Brand and the owner and CEO of the As a sought after keynote speaker, author and recognized authority on disruption in the financial services industry, Marous has been featured by CNBC and CNN, Cheddar, The Wall Street Journal, New York Times, The Financial Times, The Economist, The American Banker and has spoken to audiences worldwide. Jim has also advised the White House on banking policy.
