The Promise of Digital IDs: Reduced Fraud and Efficient ID Proofing

The move toward digital forms of ID is accelerating around the United States, and a greater use of such identification methods promises to reduce fraud losses and increase security. However, digital ID is not a cure-all for cybercrimes, nor will its proliferating use remove all need for physical ID documentation. Financial institutions will need to seamlessly integrate digital IDs into their authentication systems and be vigilant about educating and protecting consumers. 

This Javelin Strategy & Research report delves into the steadily advancing use of digital IDs, the forms such technology can take, consumers’ attitudes toward digital identity, and the steps FIs must take to meet customers’ and members' needs and to address their concerns.

Key questions discussed in this report:

• How quickly will trusted digital ID issuance proliferate across the United States? 
• What are the prevailing consumer sentiments about digital ID adoption? 
• How must FIs reduce fraud and secure consumer information in an age of digital identity?