Disruptive innovation in financial services: A blueprint for digital identity – a report from the World Economic Forum
The World Economic Forum’s digital identity report lays out, in detail, the argument for financial institutions to drive the development of digital identity solutions, discusses the landscape of identity solutions, provides recommendations on the construction of identity systems, and discusses the suite of benefits that these systems would bring to stakeholders.
The report, Disruptive innovation in financial services: A blueprint for digital identity, calls on financial institutions to lead the charge in developing robust digital identity solutions that would bring benefits to users, financial institutions, and society as a whole. Some of the critical steps outlined in the report include studying and understanding the user group, engaging with the public sector, and determining the technology backbone needed for the identity system. While not intended as a roadmap, this report will serve as a foundation for entities wishing to understand and ultimately act on the identity challenge.