Digital ID

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Digital ID

Watch Recording

This session will provide an overview of how DFS account takeover can be prevented using strong authentication methods and showcase their implementation in real live systems. A secure DFS system requires reliable form of customer identification in order to generate secure credential for authenticating clints. Many current online DFS systems still rely on the use of insecure password solutions for client authentication. In order to enhance security, some solutions use multifactor authentication (MFA) to protect against account takeover. However, MFA induces friction to the authentication process without expanded additional security benefits if not implemented properly. Recent advances in technology have resulted in secure systems that are based on the FIDO Alliance protocols that enable secure password-less authentication solution that are user and device friendly. Furthermore, coalitions such as DID Alliance are finalizing core specification that bootstrap trusted consumer identity online.

Related FIGI SIT Working Group report: Impleme​ntation of Secure Authentication Technologies for Digital Financial​ Services

Watch Recording

Lack of identification or reliable and independent proof of identity of individuals makes it difficult for FSPs to open accounts. This session will present different approaches to e-KYC regulation including the FATF Guidance on Digital ID published in 2020 and temporary measures adopted to address COVID-19 related needs.

Watch Recording

This session will dive deep into KYC registries, collaborative solutions for KYC which impact individuals and MSMEs and key design features of registries. KYC and identity authentication is critical for numerous financial processes from onboarding a new client to making payments and insurance claims. Underpinned KYC processes, a KYC registry is a centralized repository of key ID attributes and other data that enable the identification of clients and contribute to efficiency of verification processes to meet customer due diligence requirements. 

Policy guidance for Digital ID usage and implementation for financial services

Speaker slides

Enhancing DFS account security through improved identity vetting and strong authentication

Abbie Barbir

Seungmi Choi

Debora Comparin

Jeremy Grant

Guidance for regulating E-KYC

Speaker slides

The role of KYC registries and other technological solutions

Roberta Dibenedetto

Kendrick Lee

Gamuchirai Moyo

R J S Randhawa

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Event Details
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  • Start Date
    25 May, 2021 11:51 am
  • End Date
    17 June, 2021 4:00 pm
  • Status
  • Organizer
    • ITU
    • WBG
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