ConnectID aims to launch in 2023 – Finance – Software

Australian Payments Plus’ (AP+) – the vehicle for digital identity initiatives by BPAY and eftpos – has sought support from the ‘big four’ banks for its ConnectID platform.

The company said in a statement and in social media posts that ANZ, CBA, NAB and Westpac all support “the development and establishment of an open, standards-based national identity infrastructure called ConnectID”.

However, the statement contains quotes from only two of the banks – CBA and NAB.

Spokespersons for Westpac and ANZ Banking Group declined to comment specifically on their support for ConnectID when approached by iTnews.

ConnectID Managing Director, ConnectID AP+, Andrew Black, said iTnews the identity service has “undergone a bit of a refresh” and has reached a “key milestone to be able to announce the support of these banks”.

Black said it was a “collaborative process” with all ConnectID participants using “globally recognized standards” to ensure that all future participants can easily integrate into the service.

ConnectID is also accredited under the Australian Government’s Trusted Digital Identity Framework (TDIF).

Support from big banks is critical because “people trust banks and big banks to keep money safe and data is no different,” Black said.

“Having that sense of trust tied to a bank is really important.”

He added that the reusability of ConnectID to authenticate with other services – assuming this materializes in the future – would also be attractive to participants and end customers.

ConnectID will rely on banks “to tell customers how and where they can use this [digital identity] go forward “.

“Customers are asking [the banks] for things like that. So he’ll be working with all of those participants within the network to help, not only get it out there on the retail and onboarding side, but also for banks to help customers know when and where they can use [ConnectID]“, Black said.

ConnectID customer trials are expected to begin later this year, ahead of an expected launch in 2023.

Black said ConnectID “certainly” sees support expanding beyond the big banks, with trials with the Queensland government also underway.

Further testing will roll out later this year with “trials in a few different sectors” in the fintech space, e-commerce, age verification and retail in the coming months.

The ABC’s managing director for open data, Katherine Sleeth, said in the AP+ statement that the bank was “happy” to help its customers “have more control over their data and privacy”, their allowing them to share their personal information via the CommBank application.

“The fast online process will save customers time and help keep them safe online,” Sleeth said.

Angela Mentis, director of digital, data and analytics at NAB, also declared the bank was “proud to play an essential role” in the development of the initiative.

Mentis said the bank wanted to “simplify the lives of our customers as they go through the process of validating their identity online” while providing “a secure way to do so that protects their data and privacy.”

“ConnectID gives customers full control to use only the data that is absolutely necessary during identity verifications; they will be able to do things like digitally prove their age rather than take their driver’s license for the same purpose,” Mentis said.

“When subscribing to a new mobile phone plan or another service, for example, identity data will only be accessible when a customer initiates a transaction, authenticates using his bank identifier habitual and gives his express consent.”

Mentis further stated that using a digital identity can help protect consumers against cybercrime.