In this guide you learn everything you need to know about Digital ID wallet and proving your identity with a greater privacy and all your ID credentials at hand on your mobile device.
Make A Case for Digital ID
How many identity cards do you have in your wallet? Go
ahead, open your wallet and count. I counted at least 5: driver license, car
insurance, health insurance, dentist insurance, and eye & vision insurance.
All these traditional documents have served us well but in a changing world with
all of us carrying around a mobile device, our phones can take over the
function of those documents.
Identity documents like insurance card, national ID cards, driver
license all prime target to be wallet items to digitized into the mobile phone.
Digital IDs have the power to transform business processes dramatically with new
trust, privacy-protection, and security like never before.
In addition, Digital ID transforms the way businesses can
interact with their customers. It builds on the security of the ID issuing process,
while adding extra layers of anti-fraud protection and the ability to use it
for online ID verification powered by Blockchain Technology. With established
self-service portal, businesses can easily keep up to date important identity
information, like customer address, expiration, revocation and geo location. Digital
ID Mobile Wallet is the future of secure identity management by businesses and
governments around the world.
Digital ID Benefits
With Digital ID it became super easy to prove who you are,
or access the rights and services to which we are entitled - both online and in
the 'real world'.
Beyond the outstanding convenience, the Digital ID Mobile Wallet
offers a person complete control over their data, with the freedom to decide
exactly what information to share, with whom, and when.
At the same time, it provides issuing authorities with the
opportunity to create a compliment to a physical identity documents that are
straightforward to issue, manage and verify, delivering a powerful tool to
fight ID fraud, reduce red tape and boost efficiency.
What is Driving Digital ID Adoption
It is a simple fact, that proving that we are who we claim
to be is a near-essential element of modern life. In the real world, we've long
relied on physical credentials such as ID cards, health cards, and driving
license to provide the necessary evidence. And for online authentication, we
user a crud version of username and password for identification.
However, what's been missing is a solution that
simultaneously addresses both our digital and real-world requirements, which is
precisely where the Digital ID Mobile Wallet fits into the picture.
Solution from Omnibasis establishes a reliable all-in-one
identity platform that puts customers in full control of their data. For customers
and document issuers alike, the Digital ID Mobile Wallet, therefore, represents
a missing piece in the frictionless customer experience with a trusted
environment in which innovative, user-focused ID initiatives can now realize
their full potential.
Digital ID adoption is experiencing a rapid expansion, with
the report from Market Insight published in January 2020 predicting a 24% CAGR
(Compound Annual Growth Rate) for Digital ID initiatives worldwide, fueled not
only by the digitalization of identities but also driving licenses and
healthcare credentials.
Digital ID Mobile Wallet builds a compelling case with:
1. A single and secure source for any number of different identity services;
2. Entirely new standard in people privacy.
3. Building frictionless transactions;
Let's look at each one in a little more details.
Digital ID Identity Services
The Digital ID Mobile Wallet offers a rich variety of
identity-related services. Across both the online and the offline, the Mobile Wallet
ID makes it quick and easy for the person to fulfil the simple task of proving
their identity with secure trusted credentials.
For example, to open a bank account in a branch, customer
can use their Digital ID credentials in the same way as its physical equivalent
for verify their identity.
The same Digital ID credential can be used to complete the
task online as well.
In another example, if asked by a police officer to show
evidence of the right to drive, driver can show Mobile Wallet ID embedded in
their smartphone. With this ID wallet, that driver's license is also a source
of additional information, such as its current status and any endorsements.
With the driver's permission, seamless access to this real-time data can be
given to police and other law enforcement officers.
The new Digital ID Mobile Wallet reflects the fact that
providing proof of identity is only the first step. Other ID attributes or
entitlement – age, address, the right to vote or access to benefits enables the
Digital ID holder to share only what is necessary to verify a transaction, and
nothing more. It can facilitate frictionless access to age-restricted
activities such as gambling and purchasing alcohol (both online and in-person),
without the holder having to provide unnecessary personal details.
Entirely new standard in people privacy
The Digital ID Mobile Wallet sets new standards for user
privacy and control. It offers the support of any number of different
credentials in a single location on the mobile device, each one is securely
ring-fenced by its issuer. The issuer of
a digital driving license, for example, cannot access data from a digital
health insurance card in the same wallet.
Omnibasis Digital ID solution is built on the principle of
user consent. Digital credentials remain with the user at all times, and under
his or her sole control.
The presence of a Digital ID Mobile Wallet on the customer's
smartphone opens a direct and secure communication channel to any business or government
to engage in one-on-one timely and direct communication.
For example, customers can benefit from timely reminders on
vaccinations, receive details on how to participate in forthcoming elections,
and be issued efficiently with driving penalties and endorsements.
Building Frictionless Transactions
With Digital ID credentials at hand, businesses and governments are building a trusted environment for frictionless transactions.
Think a scenario of losing a physical wallet, or having it
stolen, can be nothing short of a nightmare. In the wrong hands, ID credentials
might provide everything needed to clone an identity. On top of that,
cancelling and replacing multiple different physical credentials is a
time-consuming and challenging task for anyone.
Contrast that with losing a Digital ID Mobile Wallet.
Even the most determined fraudster or criminal will be
unable to leverage the user's credentials, and the ID wallet can be revoked
over the air and in near real-time, making it unusable.
In addition, if the smartphone is not returned to the
rightful owner, all the relevant digital credentials can be downloaded quickly
and easily to a new mobile device. Credentials can always be updated remotely
with accuracy and convenience.
The powerful combination of security and convenience
embodied in the Digital ID Mobile Wallet is made by one integration platform
provided by Omnibasis.
Security Challenges
Omnibasis Digital ID solution brings the best-in-class features,
protecting the Digital ID Mobile Wallet against advanced threats and malware
attacks, fulfilling the highest and most stringent security requirements of businesses
and governments alike.
With advanced multi-layered security techniques and
sophisticated encryption to ensure the ironclad protection of sensitive
information.
The delivery of successful and secure digital identity
is fundamental to the next wave of business and government services. It is critical
to support the digital transformation of their business processes and develop
trusted public and private digital services.
Omnibasis Blockchain Integration opens a new level of trust
and security. A shared ledger enables secure record-keeping and increased efficiency
and speed.
The need for mobility and convenience
Accessibility is key to the success and adoption of digital
services. Given the sheer volume of devices worldwide (6 billion devices to be
in circulation by 2020, according to IHS market research), smartphones offer a
compelling proposition for anyone seeking to provide customers with secure and
convenient access to online services.
The latest report from Juniper Research even forecasts over
3 billion citizens around the world will be equipped with a
government-initiated mobile ID app by 2024
Users want a secure digital identity and frictionless mobile
experience when transacting online.
They are ready for mobile identity and want to replace
passwords with simple mobile-based PINs and/or biometric authentication to take
full advantage of the wealth of fast and convenient digital services available.
If they knew the app was secure, 70% of online service users
would want digital ID documents on their smartphone.
Build your own
Digital ID Mobile Wallet with no monthly fees on Omnibasis today. You can learn
how
to build Digital ID with step-by-step Video tutorial. Learn more about Omnibasis Digital ID Solutions.
About Omnibasis
Omnibasis is a business management solution to run your
sales, marketing, commerce, and operations powered by Blockchain technology.
Visit omnibasis.com to meet the operating
system for your business
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