Our systems for verifying identity online have failed to keep up with the digitisation of the economy – or the expectations of consumers.
Frustration, a lack of control and inefficiency is costing Australia’s economy up to $11 billion in missed opportunity.
What’s the solution?
Our 2016 research into digital identity, in conjunction with the Boston Consulting Group (BCG), reveals:
- Consumers want to be in control of their identity but are happy to share data if it makes life easier
- For business, a single digital identity could increase conversions and reduce the cost to serve and risk of fraud
- Increasing uptake in an opt-in system is challenging, and will depend on private and public sectors working together.
Our white paper, A frictionless future for identity management shares the findings of this research and reveals how we can make every digital interaction safer and simpler for all Australians.