Select ID, SQR, Luciditi, and ShareRing have partnered to launch the Reusable Digital ID Network aimed at improving remote customer onboarding in UK financial services. This collaboration focuses on identity verification compliance, enhances customer experiences, and promotes the use of reusable IDs. Utilizing advanced technologies like biometrics, the initiative aims to combat declining consumer trust in data security.
A new partnership has been established between Select ID, SQR, Luciditi, and ShareRing to enhance the customer onboarding process within UK financial services. This Reusable Digital ID Network aims to improve identity verification and provide seamless experiences through the use of reusable IDs, complying with evolving KYC regulations. The collaboration seeks to refine and implement Select ID as a service in tandem with stakeholders in the sector.
Luciditi is a key participant due to their effective age assurance measures, becoming the first Digital PASS credential issuer in the UK in 2023. Their digital identity wallet app allows users to efficiently share identity information with financial institutions and other relevant entities when requested, promoting a hassle-free identity verification process.
CEO Ian Moody of Luciditi highlighted the partnership’s alignment with their goal of fostering a more secure and interoperable digital environment. SQR, operating in the UK and the Isle of Man, utilizes selfie biometrics and public data streams for tokenized ID proofing, while ShareRing offers a certified mobile identity wallet secured by biometric verification.
Select ID’s CEO, Nick Mothershaw, remarked that the establishment of this network would allow UK financial services and other sectors to broadly access reusable Digital ID providers through a unified contract. This innovation is designed to enhance customer experiences and boost success rates in identity verification processes.
In an interview with Biometric Update, Mothershaw discussed the choice of financial services as the initial sector for Select ID, noting the recent addition of BankID Norway to its advisory committee. According to Thales’ 2025 Digital Trust Index, consumer trust in data protection remains critically low, with a significant demand for advanced technologies like biometrics to enhance confidence.
The report indicates that 64% of consumers feel more secure when utilizing brands that adopt cutting-edge technologies, linking the efficacy of biometric verification and verifiable credentials. The utilities of these technologies were deliberated in a webinar with industry leaders, debating their potential as the dominant solution for KYC processes.
Amazon has signaled its commitment to digital credentials and mobile driver’s licenses, aiming to embrace standardized digital IDs for regulatory compliance. Its strategy reflects a shift away from traditional identity verification methods, while still acknowledging that users without mobile IDs must engage in existing ID verification processes.
The formation of the Reusable Digital ID Network by Select ID, SQR, Luciditi, and ShareRing presents a pivotal advancement in enhancing identity verification within UK financial services. With a focus on compliance and improved user experiences, this initiative aligns with a growing demand for secure digital identities amid declining consumer trust. The integration of biometrics and verifiable credentials serves to redefine traditional KYC methods, positioning reusable IDs as a viable solution for future identity verification needs.
Original Source: www.biometricupdate.com
