Sales League Table 2020 | Banking Technology Winners

Results Announced!

Stay up-to-date with the latest industry news and analysis.

Subscribe to BankTech Daily News today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

Core Banking Market Dynamics Report 2020

Global analysis of core banking system sales. Subscribe now

Mastercard joins ID2020 Alliance for digital identity solutions

Mastercard has announced its strategic plan to join the ID2020 Alliance, a global multi-stakeholder collaboration dedicated to enabling everyone to have access to a viable and trusted form of legal identity.

The digital transformation that was expected to take years is now predicted to take place in a matter of months, all thanks to COVID-19 pandemic. With increased digital dependency, individuals are signing up and logging in to a range of digital services, including social media, entertainment streaming, telemedicine and remote learning, to name a few. The role that identity plays in enabling trust and the need to prove everyone’s identity safely and conveniently, wherever we are is critical in each of these interactions.

The future course of digital ID and navigating the associated risks is a challenge that requires sustained collaboration and global partnership. Through its partners, ID2020 is driving multi-stakeholder partnership to set the future course of digital ID. The organisation is building a new global model for the design, funding, and implementation of digital ID solutions and technologies.

“We share the belief with ID2020 that digital identity is a fundamental human right that each individual has control over; that digital identity is a crucial step towards financial inclusion and to building a world where technology empowers, enables and protects everyone. We must work together to establish consistency and common standards across the globe that can make this a reality, addressing real challenges faced by people every day and sparking continued innovation,” said Ajay Bhalla, president, Cyber & Intelligence, Mastercard.

Mastercard recognises that holding a viable and trusted digital identity will allow everyone to connect and realise the opportunities presented by this increasingly digital world. By joining ID2020 Alliance, both companies believe their collective technologies, networks and connections can bridge the gap and provide viable solutions for everyone.

The alliance with ID2020 is built on Mastercard’s commitment to improving how people manage and use their digital identity and follows the company’s envisioned model for digital identity in an increasingly connected world. The model is founded on user centric principles such as data ownership, consent, confidentiality, and transparency, and embodies privacy-by-design.

“Digital identity can be a powerful force multiplier to enhance social and economic opportunities for all people. But to fully realise that potential, governments, technology companies, financial institutions and civil society must collaborate. We are delighted to welcome Mastercard to the ID2020 Alliance and applaud their commitment to privacy-protecting, user-centric digital identity,” said ID2020 Executive Director, Dakota Gruener.

Related IBS Intelligence Research

Related Posts emerges from stealth mode & launches technology-powered Metal Card, a Philadelphia-based FinTech company, has announced its emergence from stealth mode to debut technology-powered Metal Card, a consumer spending product that leverages proprietary technology to give users controls, convenience, and automatic credit score optimization. With Guaranty, customers do not have to pay fees or interest. They will also receive a premium brand experience […]

This post is only available to members.

Read More »

Cloud9 Technologies teams up with comitFS to boost real-time voice trading APIs

Cloud-based communications provider Cloud9 Technologies has teamed up with comitFS, a UK-based provider of voice middleware and API abstraction capabilities for financial services companies. The collaboration will facilitate the development of real-time call control capabilities for voice trading within the institutional marketplace. “As trading dynamics shift to a more digitally-driven environment, firms want the peace […]

This post is only available to members.

Read More »

Quantum Group acquires mobile cashback app Tail

London-based FinTech incubator Quantum Group today announced the acquisition of mobile cashback app Tail. The acquisition is expected to enable Quantum Group to increase the number of banking partners integrated with Tail and to onboard different retailers from around the UK. Tail’s platform enables retailers to create hyperlocal marketing campaigns, thus allowing them to increase […]

This post is only available to members.

Read More »