A single digital identity could unlock billions in economic opportunity

Our systems for verifying identity online have failed to keep up with the digitisation of the economy – or the expectations of consumers.

Frustration, a lack of control and inefficiency is costing Australia’s economy up to $11 billion in missed opportunity.

What’s the solution?

Our 2016 research into digital identity, in conjunction with the Boston Consulting Group (BCG), reveals:

  • Consumers want to be in control of their identity but are happy to share data if it makes life easier
  • For business, a single digital identity could increase conversions and reduce the cost to serve and risk of fraud
  • Increasing uptake in an opt-in system is challenging, and will depend on private and public sectors working together.

Our white paper, A frictionless future for identity management shares the findings of this research and reveals how we can make every digital interaction safer and simpler for all Australians.
 

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