Digital identity rollout critical for digital wallet confidence and growth
A new report from API management and security vendor Curity has found that UK organisations and consumers are ready to embrace a new era of digital identity.
The term digital identity can refer to a number of different, sometimes overlapping, concepts. Curity’s report defines digital identity as information used by computers to verify and allow access to online services by a person, organisation, application or device.
Secure digital identities are a critical component in the ongoing digital transformation. Businesses rely on technology to enhance and improve their services and gain a competitive edge. Usernames and passwords are likely to wane in popularity as alternatives like biometric authenticators and passkeys help deliver new services and protect against hackers.
The report found that 63% of UK organisations either use digital identity already or have plans to incorporate it into their operations, of whom 61% plan to do so within the next year, while 52% of UK firms plan to adopt new or emerging identity solutions.
UK consumers are also increasingly familiarity with digital wallets, with 58% of consumers using them and half of those who don’t currently use digital wallets considering doing so in the future.
Entitled Plotting the Roadmap for Digital Identity, the report surveyed 200 IT decision-makers in the UK and US, as well as a thousand consumers, to gain insight into the rapidly changing digital identity landscape. It follows the UK government’s recent introduction of a new trust framework for digital identities.