Identification is becoming an increasingly interesting and relevant topic in digital financial services. Please view the following articles that discuss mobile identification as well as linking mobile ID to bank account identification.
The expansion of mobile money in the developing world has raised discussion around the lack of proper identification for those at the bottom of the pyramid. To address this issue, mobile payment providers such as Alipay, Alibaba and MasterCard are hoping to leverage biometric data—including facial recognition software and fingerprint scanning—to ensure identities are properly verified when making mobile payments, and to align mobile and bank account information.
Electronic identities (eIDs) present a critical opportunity to accelerate progress in the creation of effective digital financial systems—particularly among poor populations in developing markets. They help to grow digital economies, transform the way services are delivered, and supplement political environments by transcending economic and social sectors. Despite this, there are significant changes that need to be made to make this happen, including coordinating across sectors to merge the fragmented identification space. This will help ensure a robust and secure digital identity platform can help to serve the needs of an entire country.