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When Technology Won't Solve All Our Identity Problems

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The Bank of New Zealand has been on a journey from an infrastructure project to an outcome focused product approach to digital identity but we need to continue to evolve our thinking by looking outside of our business to the wider industry and how we approach identity as an ecosystem. What started out as a “Banks as identity providers” initial workshop in July 2019 has developed into an industry/ecosystem approach to trying to solve our collective Digital Identity challenges. “Our fundamental question is, ‘can an individual re-use identity verification obtained through an AML/CFT process and still meet the regulatory requirements of all Reporting Entities involved?’ We seek to clarify the key legal, regulatory and practical issues that impede the sharing of digital identity or provide opportunities for sharing to occur. Outputs will provide greater certainty of the roles reporting entities, service providers and issuers of identity attributes may play in the emerging digital identity ecosystem” (Digital Identity NZ, 2019). As technologists when technology won’t solve all our problems how do we step out of our comfort zone to truly make a step change for how customers engage with the banking industry in New Zealand. (Financial Services, Amy Benedetto

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