TISA Launches Select ID Digital Identity MarketplaceTISA Launches Select ID Digital Identity Marketplace The Investing and Saving Alliance (TISA) has launched Select ID, a digital identity marketplace designed to enhance security and inclusivity in the UK. Key Features of Select ID * Allows consumers to choose from trusted digital ID providers * Provides a standardized platform for financial institutions to meet KYC and AML requirements * Promotes higher online conversion rates and customer satisfaction Initial Members and Partnerships Select ID counts Barclays, Visa, and Northern Trust among its initial members. Barclays has invested in the program, recognizing its potential to advance the open economy. Business Development Manager Role Select ID is seeking a business development manager to drive adoption and growth. The role involves building partnerships, improving market penetration, and responding to evolving industry needs. Relationship with UK Digital Identity Framework Select ID operates as a supplemental program to the UK’s Digital Identity and Attributes Trust Framework (DIATF), which ensures ID providers meet AML and KYC requirements. Industry Reactions Larry Banda, CEO of TISA Commercial Enterprises, expressed excitement about Select ID’s potential to streamline financial services access for consumers. Nick Mothershaw, CEO of Select ID, emphasized the program’s ability to connect digital ID providers to UK financial services. Related Biometrics News * Smartphone Biometric Authentication on the Rise * Cameroon Implements Biometrics for Passport Issuance * Maltese Former MP Sued for Defamation over Biometrics Company Allegations * Report to Shape Digital Public Infrastructure Development * New Zealand Government Seeks Input on Facial Recognition * Global Biometrics Network for Air Travel and Border Control Expands
The Investing and Saving Alliance (TISA) has unveiled its new initiative designed to reshape the digital identification landscape in the UK. The Select ID scheme aims to provide a marketplace for trusted and reusable identity verification and counts Barclays, Visa and Northern Trust among its initial members.
Select ID offers consumers a choice of digital ID providers to provide security and inclusivity. The program will function as a digital ID marketplace for individuals to select a digital ID provider, which in turn enables financial institutions to meet their requirements as relying parties, such as for KYC and AML regulations.
Larry Banda, CEO of TISA Commercial Enterprises, said: “We are excited to bring Select ID to market. It will make access to financial services much easier and faster for end users, while also providing them with an inclusive choice of ID providers. We expect financial services providers to benefit immediately with higher online conversion rates and satisfied customers.”
Nick Mothershaw, CEO of Select ID, announced on LinkedIn that the organization is looking for a business development manager to drive adoption and growth of the program. “This is a great opportunity to join Select ID as we bring digital ID providers to UK financial services,” he added.
The role involves building partnerships, improving market penetration and ensuring Select ID meets the changing needs of businesses and consumers.
Mothershaw also spent eight years at the Open Identity Exchange (OIX), first as co-chair and then as chief identity strategist. He became CEO of Select ID three months ago and will continue in his role at OIX, which promotes connectivity and collaboration in ID.
The Select ID program creates a “supplemental program” for financial services under the UK’s Digital Identity and Attributes Trust Framework (DIATF), which requires ID providers to be certified to meet regulatory requirements for AML and KYC.
Antony Stephen, Head of Digital Platforms for Barclays UK, added: “Barclays is delighted to invest in Select ID. This partnership will enable the next stages of the open economy, bringing benefits to both consumers and businesses. Select ID will enable the creation of common standards and because it is ‘open to all’, we hope that other participants will join this programme to drive adoption and benefit the UK economy.”
Article Topics
digital ID | Digital Identity and Attributes Trust Framework (DIATF) | financial services | identity proof | identity verification | Select ID | UK
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