United States
Identity security firm Axiad has raised $25 million in a new funding round.
The financing will be used for product development, hiring, enhanced sales/marketing efforts and to help the company obtain Federal Risk and Authorization Management Program (FedRAMP) Authority to Operate.
“According to an IDSA (Identity Defined Security Alliance) survey, 91 percent of organisations experienced an identity-based attack in 2024, and while multifactor authentication (MFA) has been around for decades, most implementations are weak and do not provide true phishing resistance,” said David Canellos, CEO of Axiad.
“This latest funding round from Invictus further demonstrates its confidence in our mission in the identity security space, which is to enable enterprises and government organizations to deliver an identity-first zero-trust future through advanced authentication solutions, including phishing-resistant MFA, that will help better protect our rapidly growing customer base.”
Malaysia
Malaysia has announced the online registration of MyDigital ID, the national digital identification system, through its mobile app. This initiative offers secure and convenient digital identity solutions for access to government services.
With the official rollout of its online registration system, Malaysians can now download the MyDigital ID app from the Google Play Store or Apple App Store and register without visiting any physical kiosks.
Global
The global market for government and commercial issued digital travel identities will generate more than $4.6 billion in revenue by 2029, according to a new report examining the major trends shaping the travel digital identity landscape.
The travel industry is at the forefront of digital identity adoption globally, according to the new 208-page Travel Digital Identity – Seamless Travel Powered by Digital Identity report by UK-based digital trust research and consulting firm Goode Intelligence, outperforming other sectors for growth with a forecast CAGR of 22 percent over the six-year period 2024 to 2029.
Australia
Australia has restarted its plan to make digital credentials shareable across state boundaries. The plan, which had been shelved since last year, got a fresh jumpstart in the form of a seven-week “rapid discovery exercise” staged between March and May 2024, according to a report from InnivationAus.com.
Discussions centered on the new Digital ID and Verifiable Credentials Strategy signed by states in June, which includes requirements to build and test sharing tools in line with ISO standards.
Last year, the federal government and the state government of New South Wales announced plans to share digital credentials by making Medicare cards available on the Service NSW app and digital driver’s licences available on myGov. But the arrival of a new government in the state put credential sharing work on hold.
In June, however, following the signing of the new strategy, Services Australia began discussions with NSW and other states on how to approach implementation.
Global
AU10TIX is rolling out a new anti-money laundering (AML) solution. Designed to address the significant business risks posed by financial crimes such as money laundering, fraud, and terrorism financing, the solution incorporates “rigorous internal quality checks and a proprietary decision-making mechanism to filter out unreliable data and ensure a safer approach to risk mitigation.”
China
China has launched a trial of its national digital identity system across 81 apps, just days after the release of its draft regulations for public comment.
While the feedback period runs until August 25, those who wish to get in on digital ID early can apply through the National Web Identification Pilot Version app developed by the Ministry of Public Security (MPS). According to a report in Caixing global via Biometric Update, the registration process requires identity document verification using a national ID card matched against face biometrics. Once a mobile phone check is complete and a password has been created, an online number and digital certificate will be issued.
Ten public service platforms are among the 81 apps that can accept the national digital ID as part of the beta testing phase. Among commercial apps that make up the remaining 70-plus are social media platform WeChat, online commerce site Taobao and recruitment firm Zhaopin.
The July 26 release of the draft provision by the MPS and the Cyberspace Administration of China (CAC) has stoked fears that a national digital ID would lead to a total surveillance state, in which government regulators would be able to track every detail of a person’s online life.
Bhutan
Bhutan has officially transitioned its national digital self-sovereign identity (SSI) system from Hyperledger’s Indy distributed ledger to the Polygon Blockchain.
Alongside the switch to Polygon, Bhutan’s biometrics-based National Digital Identity (NDI) is also updating its protocol layer to CREDEBL. CREDEBL is an open-source decentralised identity and verifiable credentials management platform, recognised by the United Nations-endorsed Digital Public Goods Alliance (DPGA). This update aims to improve the NDI’s functionality and trustworthiness as it broadens its use cases, features, and applications.
Kenya
There is opposition to Kenya’s Maisha Namba digital ID, with some organisations saying they fear for the safety and security of citizens’ data as more than 450 different entities are expected to be allowed access to the database.
Some of the entities to be granted access to the Maisha Namba database include the Kenyan Police – which raises fears of state surveillance — and other bodies not providing essential government services.
In their recent arguments against the digital ID, legal representatives of Haki na Sheria and Katiba Institute — the two organizations which have taken the government to court – said authorities have not disclosed an appropriate data protection plan or other data sharing agreements with these entities.
At the close of July, the Kenyan High Court placed another injunction on Maisha Namba issuance, pending further hearing and a final ruling on the matter.
