Drafting of International Standards for the Use of Digital Identity in Financial Services


An international industry standards-setting organisation needed to offer comprehensive guidance on the use of digital identity in digital financial services. This was in accordance with United Nations Sustainable Development Goal #16—the creation of effective, accountable, and inclusive institutions at all levels—which includes a requirement to provide legal identity for all by 2030.


A team of expert consultants conducted a detailed evaluation of global best practices for state and private digital identification and authentication systems, weighing both their efficacy and their impact on digital financial services and financial inclusion. The team subsequently produced an exhaustive technical report and a set of recommendations, which were made available to the public by the standard-setting body.

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