White Paper

Digital Identity in Banking: What CEOs Need to Know About Best Practices and Future Directions

Author: Cornerstone Advisors, Ron Shevlin

Digital identity is a problem for many financial services organizations because there are no standardized formats for digital credentials, and there are no standardized methods to verify the source and integrity of digital credentials. The meteoric growth in smartphone adoption over the past 10 years outstripped any industry’s or government’s ability to address digital identity challenges.

What’s the path forward? This report explores three avenues: 1) Technology developments in digital identity management; 2) Best practices in digital account opening and authentication; and 3) Forces shaping digital identity management.

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