Who will win the digital identity race?
Digital identity
What is a ‘super digital identity’?
There are a surprisingly large number of attributes, or characteristics, specific to an individual. We have classified these as inherent, assigned and accumulated. We call the sum total of these characteristics a ‘super digital identity’. The more accurate and secure attributes are, the greater the validity. People use attributes to varying extents, depending on the transactions they want to engage in. RDC has identified four types, which require different levels of verification and trust: 1. Super: long-term, large, very secure transactions (e.g. house purchase) 2. Casual: one-off, lower value transactions (e.g. airport check-in, tickets) 3. Registered: access paid-for or secured content (e.g. Facebook account) 4. Virtual: browse the web, cookies track an individual The vast range of attributes are currently distributed and stored in many places, presenting huge security and integrity risks.
Attributes of a super digital identity Super identity
Finger print
Face
Inherent ‘Born with’
DoB
Voice
DNA
Mobile number
ID card
Vote registration
Increasing verification
Four digital transaction types: 1.Super 2.Casual 3.Registered 4.Virtual
Assigned Email addres s
Relationships with legal entities and assets
Health record s
Password s
Sports preferences
Accumulated Built over and change with time
Contact: Gareth Williams, gareth@reddawnconsulting.com © Red Dawn Consulting
Online cookie s
Music preferences
Political opinions
Who will win the race to manage super digital identity?
To facilitate more rapid transaction demands and restore customer trust, super digital identity management is critical. But who will lead the race? Will it be an enterprise that: • holds the most attribute data? • derives the most value from verifying transactions? • transacts most frequently with individuals? • is most trusted by individuals and transacting organisations? Consumer trust is likely to be the most important determining factor. Super digital identity managers may specialise in virtual transactions, while others may specialise in casual and super transactions. Transformations in digital transactions are already here. Santander Bank completes an entire money transfer using a person’s voice. In Estonia, a range of transactions can be made using a single mobile ID including vote in elections, pay bills, travel on trains and more.
Digital transactions Mortgage company Airport Credit reference agency
eSIM/SIM company
App
Super digital identity manager? Broker
Voting
Shop
MNO
Cinema
App
Website
Contact: Gareth Williams,
3 gareth@reddawnconsulting.com © Red Dawn Consulting
Increasing verifications
Bank
Are you looking to: • • •
Understand how to manage customer identity Ensure customer trust Maximise value of transactions
If so, talk to Red Dawn Consulting
Gareth Williams, Head of Research Red Dawn Consulting Ltd +44 (0) 333 301 3450 gareth@reddawnconsulting.com