Most governments around the world are now moving towards digital ID, as well as digital currencies. For insurers there are many advantages in knowing exactly who they are currently insuring, or offering new business to – plus taking payment in digital currency, rather than having to convert various global currencies and pay commission on each transaction. Let’s just hope that this digital ID process doesn’t result in people being “cancelled” for thought crimes, as Orwell predicted.
At present, there is every little regulation protecting citizens access to financial services as a human right so insurers have the right to decline services without any explanation, plus ask if a customer has had insurance refused in the past. Perhaps as digital ID spreads so too will regulation on equality of access to financial services as we move towards 2030.
Meanwhile here’s some news from a European based digital ID specialist;
Signicat, the pan-European leader in Digital Identity, has achieved another European milestone by integrating the Italian e-identity system, SPID (Sistema Pubblico di Identità Digitale), into its electronic identity portfolio. Being the first international aggregator to offer SPID, Signicat enables companies and public administrations across Europe to seamlessly interact with SPID users for customer onboarding and authentication purposes. With over 35 million Italians already utilizing SPID, its adoption rate is increasing rapidly in the country.
“We are proud to be the first, and currently only, company outside Italy to offer digital identity verification through SPID. As the European leader in Digital Identity services, we are always looking to stay one step ahead and offer the latest technological advances through the best and most seamless user experience and the highest level of compliance required” expressed Asger Hattel, CEO of Signicat.
The integration of SPID, which is eIDAS compliant, into Signicat’s electronic identity portfolio marks a significant breakthrough, enabling European corporates across all verticals to offer SPID in their Italian onboarding journeys. Italian citizens residing in other European countries can utilize SPID for services such as opening bank accounts, renting cars, or signing mortgages, provided the service providers accept it. This development effectively bridges the gap between citizens and businesses across Europe, fostering enhanced levels of interaction and engagement.
Signicat’s commitment to electronic identification extends beyond its support for SPID. Currently, the company facilitates over 30 electronic IDs in its Digital Identity Platform, simplifying electronic interactions between businesses, public administrations, and their customers. This comprehensive approach aligns with the European Commission’s European Digital Wallet project, which aims to bring the continent closer to a unified digital identity ecosystem. Signicat’s active participation in the EU Digital Identity Wallet Large Scale Pilots (LSP) further demonstrates its dedication to driving innovation and progress in this field.
As the digital landscape continues to evolve, Signicat remains at the forefront of revolutionizing electronic identification across Europe. By integrating SPID into its portfolio, Signicat enables seamless digital identity verification, propelling businesses and public administrations towards a future of enhanced efficiency and user experience.