Europe
Three mobile operators – o2 Telefónica, Telekom and Vodafone – have engaged in the European Union’s largest pilot to test the value of digital identities for SIM-activated customers.
The POTENTIAL Consortium, which was joined by technology partner IDEMIA, is focused on developing digital identity prototypes for six specific applications in the wallet which include SIM registrations, payments, digital drivers’ licences, medical prescriptions, e-government services and remote electronic signatures.
The European Commission is a significant funding resource of digital wallet pilots, investing €46 million from the Digital Europe Programme. A specific cross-payments pilot aligned with the digital identity wallet was also undertaken by the NOBID Consortium to explore secured and quick transactions and interoperability for payments infrastructure.
United Kingdom
Identity verification provider Veriff has achieved certification against the UK government’s Digital Identity and Attributes Trust Framework (UKDIATF). With this certification, Veriff customers can verify the identities of UK-based users, while complying with UK government approved rules.
Introduced last year, UKDIATF provides guidance and requirements for identity and authentication service providers to ensure that they meet certain technical and security standards, as well as principles for protecting users’ privacy and data. The Home Office in the UK recommends companies use certified identity service providers (IDSPs) that meet the trust framework standards for Right to Work, Right to Rent and Disclosure and Barring Service’s (DBS) checks.
Nigeria
Onfido has partnered with OjirehPrime, a digital bank based in Nigeria, to improve the process of secure online identity checks for citizens. Using Onfido’s AI-powered technology, OjirehPrime customers will be able to verify their identity by taking a photo of their government-issued ID and a selfie from their mobile device. To ensure that the applicant owns the ID, Onfido will verify the ID and then match that ID to the user’s selfie image.
The process is coming to the new version (1.02) of the OjirehPrime mobile app and will “create a better feel and improved user experience.”
Ethiopia
The use of Ethiopia’s national digital ID, Fayda, for all transactions with financial institutions will soon be mandatory.
According to an announcement of the joint initiative by the National Bank of Ethiopia, the country’s central bank, and the National ID Program, the plan is to get all bank customers enrolled for the digital ID in the course of the 2023/2024 financial year in a move that seeks to accelerate government’s financial inclusion ambition. Bank customers will then use Fayda as their bank ID to carry out KYC checks and complete remote onboarding.
Holland
Amsterdam-based travel technology startup, NeoKe has secured €1.3 million in funding from several venture capital funds to continue developing its decentralised digital identity and biometrics platform for travel.
The platform securely stores and shares users’ verified identities using blockchain and cloud-based technologies. The company says the platform will enable the possibility of having a single personal travel profile that would streamline various travel processes like check-in, guest verification, access control and data management for travel services.
Global
The total value of digital wallets transactions will rise from $9 trillion in 2023 to surpass $16 trillion in 2028, a growth of 77 percent, according to Juniper Research.
This will be driven by growth across both developed and developing markets, as the increased adoption of advanced services such as BNPL (buy now pay later), microloans, and personal financial management drives end user engagement.
Juniper Research says that in a highly congested wallets landscape, diversifying their appeal to users is vital.
Meanwhile, the global Digital Identity Solutions Market size is projected to grow from $34.5 billion in 2023 to $83.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.3 percent during the forecast period, according to a new report by MarketsandMarkets. The rise in identity and authentication fraud and increased integration of AI, ML, and blockchain to enhance digital identities drives the growth of the DIS market. Moreover, the high cost associated with the deployment of digital identity solutions may hinder market growth.
Democratic Republic of Congo
The Democratic Republic of Congo has launched its new national ID card.
The Central African nation of over 111 million is reportedly gathering the biometric data of voters ahead of its national elections scheduled for 2023. According to regional publication Time News’ sources, this is the data that will be utilized to create these new identity cards.
Biometric Updates reports that the country floated a contract for the digital ID cards worth up to 400 million Euros (US$428 million) earlier this year, with Idemia, Thales and Veridos reportedly bidding. The winner of the contract is not known at this time.
