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Oz banks back digital identity network

A new digital ID service now lets Australians use their bank to verify their identity to third parties.

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Oz banks back digital identity network

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The recently-formed Australian Payments Plus (AP+) - a consolidation of domestic payment organisations BPAY, eftpos and NPP Australia - has worked with the country's big banks on the ConnectID project.

It means that, instead of providing proof of identity documents, people can now ask a participating business to verify their information using organisations they already trust with their data, like their bank.

ConnectID is now available to Commonwealth Bank and National Australia Bank customers on a number of use cases. Westpac and ANZ are also banking the system.

The system does not see or store personal information, it simply acts as a bridge between an organisation that wants to verify someone’s identity and the organisation providing that verification. This only happens when the customer authorises it.

CBA’s General Manager, Open Data, Katherine Sleeth, GM, open data, CBA, says: “Commonwealth Bank is supportive of ConnectID which will simplify customer identification and authentication needs for both businesses and consumers across the economy."

Brad Carr, executive, digital governance, NAB, adds: “We’re proud to support the launch of ConnectID today, which will make life so much easier for Australians when they are going through a process of validating their identity online, and doing so in a safe way that protects their data and privacy."

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