Onfido brings world-class identity verification using AI and biometric technology to TISA, delivering strategic policy outcomes to help shape the evolution of the financial services industry.
Onfido, the global identity verification and authentication provider, has joined The Investing and Saving Alliance (TISA), to help drive its Digital ID programme, promoting the use of reusable identity. Onfido is the latest member to join TISA following its rapid expansion of the Digital ID scheme, which now counts Barclays, Signicat, OneSpan and Daon as members.
TISA has become the pre-eminent financial services membership firm focused on digital consumer policy and industry infrastructure developments. TISA’s Digital ID work will be supported by Onfido, who will provide its expertise in digital identity verification to help make it a success.
“We are delighted to join TISA. Its vision to create a reusable digital ID that meets all relevant regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML), and that helps consumers securely prove their identity to UK Financial Services is admirable. It is an excellent initiative which will drive powerful innovation and help reduce compliance costs in the sector.”
Matt Peake, Global Policy Director at Onfido
TISA is a trusted partner of key industry stakeholders (government, regulators, industry infrastructure providers) in helping shape the future of the UK financial services and the environment in which it operates. With over 240 members, it helps improve industry-wide infrastructure initiatives that create a dynamic financial services marketplace that benefits the financial wellbeing of UK citizens.
Gartner® predicts, “By 2025, a global standard for portable decentralised identities will emerge in the market to address business, personal, social, societal and identity-invisible use cases.” Gartner: Market Guide for Identity Proofing and Affirmation March 2022
“The trust framework for a single, interoperable, Digital ID scheme that we are developing is a key milestone for UK financial services. Together, we are building a consumer-friendly and advanced framework for Digital ID, in line with the government's ambitious aims to digitising financial services to make them more competitive and efficient. Onfido's longstanding expertise in global identity authentication and verification products will contribute significantly to the development of our framework. This is a fantastic example of industry collaboration, and I would like to welcome Onfido to the team.”
Harry Weber-Brown, CEO at TISA Digital