Australian banks ready to introduce digital identity checking service
2023 will be the year of Digital ID.
It has been announced that Australia’s major banks will soon provide identity checking as a new service, as part of the newly-created Australian Payments Plus investment service.
Banks see “identity-as-a-service” as an incremental revenue stream that will allow them to charge retailers or utilities for validating customer details, given banks are ‘highly trusted’ in the economy.
National Australia Bank and Commonwealth Bank have been the drivers of the new digital identity network, known as ConnectID, which all four major banks will switch on next year.
ConnectID was created by eftpos, and accredited under the federal government’s controversial Trusted Digital Identity Framework last year.
Before the creation of AP+, eftpos and BPay were separately exploring digital identity. Now, strategy has been given stronger impetus under AP+ as the banks co-ordinate efforts around payment innovation.
“This is a moment of truth, having a national digital identity ecosystem for Australia backed by some of the largest organisations in the country in terms of size and coverage and trust,” said Andrew Black, Managing Director of connectID at AP+.
“It is a huge milestone to be able to create a digital exchange, to make sure we provide as many Australians as possible with trusted coverage of their identity.”
Other holders of identity, such as state governments, will also be able to use the network, as multiple organisations battle to be the “source of trust”.
How Orwellian does that sound?
“We recognise this is something that no individual bank can deliver effectively on its own, and it made sense for us to work with AP+, which is an experienced network operator and has existing relationships with the banks,” said NAB chief digital, data and analytics officer, Angela Mentis.
“We need an interoperable solution with whole-of-economy reach, and AP+ plays a vital role in maximising the opportunities for Australian consumers and businesses.”
The move will help banks respond to competition from international payments giants also moving into their services towards digital identity.
DIGITAL IDENTITY RACE
The banks are keen to fend off growing competition for digital identity services, including from Mastercard and Australia Post, which are working together, and are also accredited under the TDIF.
No longer a ‘conspiracy theory’. The digital dystopia begins to manifest.
The groups say by stopping customers having to re-establish their identity multiple times with various companies and government agencies, the digital identity services will reduce customer vulnerability to cyberattacks by reducing the number of organisations holding sensitive personal information.
It isn’t just banks making the transition to Digital ID, either.
Other ongoing trials involve an online liquor retailer conducting proof of age checks via scanning of faces, where the retailer will be given a “yes” or “no” answer that the customer is 18 or over.
Let’s also not forget about the latest ‘cyber attack’ false flag operation.
The Australian government have been working hard with their myGovID program as well:
Furthermore, while banks see the service as most useful in online commerce, the technology is also set to be used at self-service checkouts in physical stores in the near future:
Contactless pay involves customers authenticating themselves using their regular banking login and providing express consent for the identity data to be shared with the store or bank.
When you walk in the store, you simply walk out with the goods, and are charged for the item based on AI weight calculations and a face scan that matches to your pre-loaded bank account.
Amazon stores have already been doing this for a few years now.
Other uses of the service will be purchasing mobile phone plans, allowing banks to earn revenue from the major telcos, along with utilities and insurance.
But it doesn’t stop there.
Biometric systems are set to be rolled out for employee onboarding, travel bookings and loan applications, ‘reducing costs for businesses’ by making processes ‘more efficient’.
“Businesses will see improved data quality, with data verified directly from trusted parties such as a bank, lower costs in customer onboarding and identity verification across sectors, and manual processes replaced by digital convenience,” AP+ say on their website.
“This will have flow-on benefits in terms of more streamlined business operations and trust in the digital economy. It will also reduce their risks from having to hold data that is exceeding what is required.”
The Reserve Bank has been pushing the major banks for several years to ‘improve the security of e-commerce’ by establishing better ways to validate identity.
AP+ CEO Lynn Kraus has cited digital ID as one of four key priority areas, with the others being QR code payments, making eftpos more attractive for commerce, and the development of smartphone wallets.
Yes, digital identity is at our doorsteps, ladies and gentlemen.
I think back to when the President of Microsoft warned the world last year that we may be living in an unrecognisable world by the time 2024 comes around.
Perhaps that projection was not too far off after all.
Let’s not forget who runs the banking system in Australia:
All by design.
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22 thoughts on “Australian banks ready to introduce digital identity checking service”
Disaster awaits us if we do nothing. We are now on the road to tyranny and a China like social credit system, how lovely! Of course, the sheep will be lining up to join this monstrosity. Been in the planning for ages and the sheep are fast asleep, that is why they all got conned by the Great Covid Con.
What can regular Jo Blo DO????
There is a movement at the moment called The Global Walkout, few small things but it is a start: globalwalkout.com
Seems they (those controlling the wheel) will stop at nothing to get what they want, it is absolutely mind boggling what is in the works, and people are so ignorant to not realize it is happening and they are already a part of it. You might like this website: stopworldcontrol.com
I had a big sticker made up for the back window of my car that reads ‘Stop Global Tyranny! Visit StopWorldControl.com to find out how.’
It’s mostly the older generations that reacts positively to it, and the younger generations tend to stick their noses up to it. The evil Cabal has certainly done a good job in brainwashing our kids.
Excellent, so weird that older people are more awake, the kids/teenagers/young adults are brainwashed by what they see on their phones, and what they are being taught in schools, so sad.
If youth knew and age could…looks like we may have to both know and have the ‘can do’ attitude.
But not all youth are lost. I have great hope.
‘Banks’, ‘Government’ – Highly Trusted! ER, is that WHY, These gangsters & THE Media, HAD to have a ‘Code of Conduct’ Attached to their collective Operations in the FIRST Place?? So it wasn’t Years of Criminal operations & Mis/ DisTRUST? The Mis/Dis Factory is making a Cyclic Comeback! – SAME Players! SAME Gameplay! I guess that’s the ‘Fit & Proper Person’, SOOO Bandied about by the Same COC Merchants, AGAINST the ‘Peasants’! ‘Proofs in the Pudding’ Minstrels & UNelected Technocrats!
This COC, of Course, ACTUALLY means exactly ZERO! Strategic Propaganda Leverage ONLY! & With the very same COC Cabals of COMIC going Gang Busters to Screw the Population even HARDER! Only THE Sheep ‘Believe’ a COC, IS, ANY form of Oversight!
The Australian Fed Govt (COMMONWEALTH OF AUSTRALIA) @ NOTmyGov.Tyranny.org, Not to be outdone as a U.S. Corporation – IT’S U.S. Security & Exchanges Commission- Reg # CIK 0000805157,
THE COMMONWEALTH BANK OF AUSTRALIA – IT’S U.S. Reg # CIK 0000008565= A U.S. Corporation.
SAFE & EFFECTIVE. Your Individual Security Bio Metrics ARE SAFE – TRUST US, WE HAVE A COC.
The paradox that I cannot reconcile is how the mainstream media pump anti-China sentiment down our throats everyday, and our masses lap it up – criticising that nation for its terrible systems of population control and lack of individual liberty, yet we happily accept the rollout of the very same systems in our own countries. What gives? I mean I get the fact that these desires and plans for control have existed for a century at least, and that it’s not China doing it TO us, but what happened to China is happening to us, but I still can’t understand the dissonance of the masses for something they have been given a poster boy to hate on, a stark example of what we never want to be like and yet onward we march. I suppose its the same as how we watch shows like Black Mirror or read 1984 or Brave New World in abject horror, mortified at the concepts, but opt-in to programs and systems that are blatantly of the same ilk.
Seems to me, so long as there is someone to point the finger at, people have literally no interest in self-awareness or what is happening in their own backyard. Time and time again. We are truly doomed if these final technological pieces are implemented.
As predicted by David Icke years ago, Radarz
Interesting that the AP+CEO Lynn Kraus shares her name with WEF Klaus Schwab lol.
We must resist as long as possible, leave the big banks asap.
Whoops made a mistake, Kraus is not Klaus, but they still think the same.
I won’t hold it against you. Both Krauts as it were. Germany caused us a slight problem in WW1. I don’t they have bothered us much since them have they? I don’t get out much.
Klaus Martin Schwab his full name is, among other things, an anagram of
‘Satanic mark hus lbw’
That’s just not cricket. Perhaps he is a mark of the beast??
What if people like myself don’t want this digital ID hellhole? I guess people like me would just have to die off like the dinosaurs! Or maybe I’ll start using alternative currencies, like cryptocurrencies or just stick to physical cash!
There are plenty of people who are aware of what is happening and do not wish to be digitalised. In my area people are beginning to trade locally, assist each other locally, building community. Money does not necessarily change hands.
Sure, if one wants to continue without changing one’s current lifestyle then becoming a number is essential.
‘I am not a number, I am a free man!’ said The Prisoner.
Buy some silver coins, Nathan…if you can get them
Big banks “a source of trust”: as John Dawe notes, ya gotta be joking. All so predictable. Ian and Nathan above have two of the strategies needed to avoid becoming “a slave on a digital plantation.”