FB pixel

TISA gains more member mass in bid to create digital ID for finance sector

TISA gains more member mass in bid to create digital ID for finance sector

A multi-industry UK organization focused on opening the financial services and savings sectors to more people is adding more partners for its digital ID program.

Joining The Investing and Saving Alliance, or TISA, are Onfido, NatWest and Lloyds Banking Group. They will be part of TISA’s ongoing project to create a common digital ID that is accepted among the organization’s members and, possibly, become a standard across the United Kingdom.

Other recent newcomers are Barclays, OneSpan, Signicat, Daon, Fidelity, MoneyHub, the UK Post Office, Yoti, Digidentity and Ardent, according to TISA.

Two hundred entities have joined so far from industries and niches as seemingly disparate as investment and wealth management, retail banking, online platforms, insurance, pension providers, distributors, building societies, third-party administrators, fintech, financial consultants and advisers, data infrastructure providers and stockbrokers, in addition to the biometrics providers.

A live pilot of the digital ID is expected to begin this summer. The goal will be to connect ID providers to live onboarding processes via a network hub and connectors.

Work on a proof of concept was completed last July after the scheme was introduced in April.

The organization’s objective is, of course, to grease the skids on consumer spending and investing, something the digital ID industry says will naturally follow large-scale electronic identification.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News


Cryptomathic is Belgium’s digital wallet mobile app security provider

Tech from Cryptomathic has been deployed in Belgium’s digital identity wallet, one of the first to go live in the…


Bringing ethics into the discussion on digital identity

A panel at EIC 2024 addresses head-on a topic that lurks around the edges of many discussions of digital ID….


Kantara Initiative launches group devoted to deepfake injection attack threats

“It’s probably not as bad as this makes it seem,” says Andrew Hughes, VP of global standards for FaceTec and…


Seamfix CEO makes case for digital ID as unlocker of Africa’s growth potential

The co-founder and Chief Executive Officer of Seamfix, Chimezie Emewulu, has posited that digital identity and related services have the…


Nigeria’s digital ID authority unveils new measures to uphold data security

The National Identity Management Commission of Nigeria (NIMC) has outlined new measures that align with its push to make data…


Data Zoo, Metalenz, Precise, Token, Tools for Humanity add executives

A handful of biometrics and digital identity providers have announced leadership team updates including new finance and technology executives at…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events