Digital Identity: concepts and ideas
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Transcript of Digital Identity: concepts and ideas
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UNDERSTANDING DIGITAL IDENTITY
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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
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THE ROLE OF DIGITAL IDENTITY IN THE CONNECTED ECONOMY
CHAPTER 1.
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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.
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This enables digital identity to be a strategic opportunity for the public and private sector across the globe.
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The current fragmentation in the market has generated issues for citizens and consumers, as they struggled to manage multiple digital identities.
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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.
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At the basis of digital identity, privacy and security stand in the way of mass adoption.
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THE BUSINESS PERSPECTIVE
CHAPTER 2.
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Digital identity is experiencing a high growth curve, being driven by consumer and enterprise requirements for secure access to digital services and products.
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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.
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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
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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
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THE WORLD OF DIGITAL IDENTITY
CHAPTER 3.
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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)
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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:
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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.
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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.
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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
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Financial services
Healthcare
Public services
Retail
Main industries:
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Within the European Union there are two sets of developments regarding digital identity at a citizen level.
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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.
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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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