Digital identity - the body of information or unique identifiers and user patterns that detect individuals online and on their devices – could become the most valuable commodity for the citizens of the future, said Google Chairman Eric Schmidt back in 2013.

It is also a source of both huge opportunities and significant challenges for banks and other financial institutions. Banks must ensure they are able to correctly verify identities, have control over how the information is used and ensure that they provide the right service to the right person in the right context.

But should banks be able to meet these challenges, the benefits are clear – greater volumes of customer participation and transactions, the ability to generate and access huge volumes of data, and the chance to create a more seamless and intuitive customer experience.

Could a unified approach to digital identity disrupt the banking industry? And could it also be the key to enhancing the customer experience?

This research paper, produced by Finextra, in association with Ping Identity, seeks to address these questions and more, by speaking to the identity managers at leading institutions for their views and bringing to the fore a major aspect of the change afoot within the global banking industry.

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