Strengthening Trust in Digital Privacy Through Collaboration
- By Andrew Black
As the world continues to shift towards a digital future, safeguarding customers’ personal information has become paramount for organisations. In Australia, banks have been at the forefront of prioritising data privacy by acknowledging that customer choice and trust are crucial to achieving this goal.
Through their long legacy, the big four banks in Australia have created a strong foundation of trust with their customers. These banks can strengthen customer choice and trust even further by presenting a robust alternative form of identity verification, minimising the need for customers to overshare their personal data with the many online services they interact with.
As the wider business landscape grapples with the challenges in today’s digital economy, ConnectID® represents a vital step forward in the ongoing mission to protect customer privacy by placing value on customer choice and trust.
Earlier this year, Australian Payments Plus hosted its End User Forum exploring the future of digital trust in Australia.
At the event CommBank’s General Manager for Open Data, Katherine Sleeth, noted,
“There’s a complexity to sharing personal data and we need to work towards a future where identity verification is painless and accessible for everyone. It’s crucial to provide simple, trusted, and secure solutions that give customers choice in an increasingly digital world.”
Following the release of the Australian Government’s report into Privacy Act reform, the importance of digital privacy continues to grow with an invigorated need to collaborate across industries to minimise the sharing of data and reduce threat potential.
Australian banks have partnered with ConnectID, to develop a state-of-the-art digital identity service that empowers customers with greater control over their personal data.
Once launched, ConnectID will help customers seamlessly verify their age or identity with participating businesses, sharing only the information they absolutely need.
A design such as this places the customer at the centre of the approach by emphasising their own choice to share the minimum information needed, with who they want and via their chosen identity provider. This powerful framework tips the balance of control back into the hands of customers so they can preserve data privacy but still receive the same great experience.
Also in attendance at the End User Forum was Linden Dawson, Senior Product Manager for NAB’s Customer Digital Identity, who explained,
“One way to build customer trust is through great design and clear communication. That’s why we must design customer-facing digital identity systems that are clear, that explain in the moment what is going on, what information is being shared, with whom and for what purpose.”
In fact, engagement between industry and government is vital in establishing robust standards and creating a secure digital ecosystem that benefits all involved. The collaboration will be advantageous to establishing standards to preserve privacy, minimise oversharing and work towards building a safer digital future.
On the topic of constructing a collaborative ecosystem for digital identity, Dawson continued,
“I’m looking forward to a time when industry and government can both provide relevant digital identity services in a trusted, interoperable ecosystem that empowers the user to make a choice that’s right for them.”
Working together, we can develop an interoperable ecosystem for the good of all, it’s what Australian businesses and consumers need and deserve. By empowering customers to control the sharing of their personal data through innovations like ConnectID, we will see an increase in the trust that consumers place in businesses to protect their data.
To hear more about how ConnectID could help your business, follow the link