The financial services industry, perched on a vantage point, is poised to take a hegemony in creating a new identity ecosystem.
The paper Digital identity ecosystem: The opportunity for banks to be identity brokers in the open banking era by Santanu Dutta gives you a 3600 view of the future world built round identity and lays out the apt strategies - business model and technology model – that will help the industry design and broker a future identity world in the open economy.
The paper discusses:
- The present state of identity ecosystem – its complexities, the root cause of identity issues and connected challenges
- The need to digitize identity management
- The pivotal role banks can play in creating a new trusted digital identity ecosystem
- The apt business and technology model that can help banks design a future identity world
- Blockchain technology for digital identity
- The relevance of digital identity in the open banking era
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