Martin Wilson Chief Executive Officer at OneID
Banks and corporates face the same key problem online as consumers – reliably overcoming anonymity. Solving this problem causes friction, frustrating consumers and denying revenue to businesses and financial institutions. Here’s how digital ID can help prevent this. The existing ID verification processes used by many banks and e-commerce providers...
16 March 2023 /payments /identity
Digital payment services are revolutionising e-commerce in the UK – but there are obstacles to overcome before they deliver their full potential. Here we run through the key challenges facing the sector, and the role digital identity providers can help overcome them. In a few short years, digital payments have gone from a novel innovation to becom...
The 2022 Qatar World Cup highlighted how the sports industry is increasingly merging with technology. Technology took centre stage, helping officials make critical calls, keeping spectators safe and fans engaged and providing players with access to data after their matches. Organisers have also embraced digital identity, with all local and interna...
23 December 2022 /payments /identity
Over £600 million was stolen by criminals through authorised and unauthorised fraud in the first half of 2022. This is down 13% compared to the same period in 2021. According to the 2022 half year fraud report from UK Finance, APP fraud accounted for £249.1 million of stolen funds. APP fraud is when criminals socially engineer their victims, usual...
09 November 2022
Back in 2019, the Conservative Party committed to making the UK “the safest place to be in the world online”. Key to this pledge was the protection people from online abuse and children from access to harmful content. The introduction of the Online Safety Bill in May 2021 backed up this pledge and for a while, the UK led the way globally in protect...
27 October 2022
UK Finances’ 2021 fraud report revealed a staggering increase in online payment fraud. To tackle this fraud epidemic, we need to focus more on digital identity, argues Martin Wilson, CEO of OneID®. Instances of authorised push payment (APP) fraud in the UK rose by a frightening 39% in 2021. According to the 2021 Fraud Report from UK Finance, APP ...
06 September 2022
If the government’s Economic Crime and Corporate Transparency Bill and its plan to bring more transparency and accuracy to company’s ownership is to be effective, it must focus on how digital identity data will be managed On May 10, the UK government used the Queen’s speech to announce plans for a second economic crime bill as part of its effort to...
30 June 2022
Scams on social media platforms like Instagram are soaring. While legislation and awareness campaigns are helpful, a proper process for verifying identities is what’s really needed, argues Martin Wilson, CEO of Digital Identity Net. UK high street lender Lloyds Bank has been forced to issue a series of warnings to clients about potential social me...
16 June 2022
Extra security checks for online purchases will reduce fraud but they could also cause e-commerce chaos for unprepared retailers unless a new frictionless approach to verification is adopted, writes Martin Wilson, CEO of Digital Identity Net. It is estimated that more than 5.1 million cases of online fraud are reported every year in the UK at an a...
19 May 2022
The Online Safety Bill is a landmark piece of legislation designed to lay down in law a set of rules about how online platforms should behave to better protect their customers and users. It aims to: prevent the spread of illegal content and activity such as images of child abuse, terrorist material and hate crimes, including racist abuse protec...
06 May 2022 /regulation /identity Digital Identity Management
Welcome to Finextra. We use cookies to help us to deliver our services. You may change your preferences at our Cookie Centre.
Please read our Privacy Policy.