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UNDERSTANDING DIGITAL IDENTITY
CONTENTS
• The role of Digital Identity in the connected economy
• The business perspective
• The world of Digital Identity
• Use cases
• Developments in Digital Identity
• Future trends
THE ROLE OF DIGITAL IDENTITY IN THE CONNECTED ECONOMY
CHAPTER 1.
Within developed and emerging economies, individuals use the Internet as the main communication engine between themselves, as well as between themselves and other organizations or governments.
This enables digital identity to be a strategic opportunity for the public and private sector across the globe.
The current fragmentation in the market has generated issues for citizens and consumers, as they struggled to manage multiple digital identities.
For enterprises, digital identity in the connected economy means better customer service, deeper consumer insights and understanding, personalized service and product delivery or targeted marketing.
At the basis of digital identity, privacy and security stand in the way of mass adoption.
THE BUSINESS PERSPECTIVE
CHAPTER 2.
Digital identity is experiencing a high growth curve, being driven by consumer and enterprise requirements for secure access to digital services and products.
The Boston Consulting Group calls ‘digital identity’ an economic mega trend and estimates that in the year 2020, the market value will reach €1 trillion.
Direct monetization of Digital Identity services would account for a third of the volume with an impact of €330 billion annually* to the bottom line of European organizations.
* Liberty Global and Boston Consulting Group
The rest is part of secondary / indirect market
that will generate an estimated €670 billion*
through its core strengths: Automation,
Personalization, Delivery and Autonomy.
* Liberty Global and Boston Consulting Group
THE WORLD OF DIGITAL IDENTITY
CHAPTER 3.
Individuals today are used to having multiple digital identities.
Currently, identity providers span across several services:
• National ID card or Passport
• Banking credentials
• Health card
• E-Commerce identities
• Social network accounts
• Email account (private and
corporate)
Identification / Registration: the process that allows an entity
to obtain a digital identity;
Authentication: the verification process of the identity’s
attributes;
Authorization: the process that allows an entity to use the
digital identity in electronic transactions.
A Digital Identity holds three main components:
Bank credentials are one of the most known and trusted digital identities today.
Even though a bank identity is limited, allowing access only to financial accounts, it has the potential to grow and serve more use cases and industries.
Digital Identity has been identified as a potential game changer in all major sectors.
Each of them will face different challenges in implementing and drawing value from online identities and services in the following years.
Some of the main benefits identified in using Digital Identity throughout these sectors are:
• Consumer insights• Targeted Marketing• Product enhancements• Connected / intelligent devices• Enhanced automation• Personalization
Financial services
Healthcare
Public services
Retail
Main industries:
Within the European Union there are two sets of developments regarding digital identity at a citizen level.
Belgium, Germany, Italy, Netherlands, Estonia, Malta and Spain adopted a government centric model.
eIDs are issued and managed by central authorities which are also responsible for integrating public and private services into the identity scheme.
Norway and Sweden introduced a bank issued identity, known as BankID.
The banking sector is responsible for managing the identity infrastructure and provides scalability of service.
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