Can Banks act as digitial ID providers? Is there money to be made?

From IIW

Session Topic: Can Banks be IDP Providers (T3G)

Convener: Peter Van Swift

Notes-taker(s): Sid Sidner

Tags for the session - technology discussed/ideas considered:

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

SWIFT is wanting to issue certificates

USB cert token

Another project with an anonymous USB cert

that can be used anywhere

Recent innovation contest winner: eMe was 2008

Couldn't get it funded

2011 visited digital ID providers

Started a digital ID innovation project - well funded

Research phase: how far should Swift go? Should Swift be a trust broker

focusing on VRM

with a federted ID approach

The Digital ID Tuner: tunes across your identity, by both attribute and time

Use case: credit rating

Peter sees it as a sphere

David Segal "Pull"

belgian id system - one id for everything doesnt feel right

do consumers want this?

canadian banks tried it and failed

Pter this is not a consumer idea

What about telcos?

What about EMV?

Scott David but there is a problem mwith scaling up a system to Internet scale.  How can we extend the Swift trust top a larger context.

if this is a new business for a bank or telco offers IDP, and then something goes wrong, what about brand damage.

Scott: pool the risk among many players

new topic know your customer

NIST LOA 4 ( or maybe three)

Scott: you are already kyc on corporations, a non real entity. This is similar to vetting virtual identies.

kyc is not shared between banks