# Mobey Forum Launches Digital ID Expert Group
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2019-01-05
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Mobey Forum Forms Digital ID Expert Group to Shape Future of
Meta Description: Join Mobey Forum to shape the future of digital identity within the banking industry. Explore opportunities and challenges with global experts. Register now for
URL: https://financedigest.com/mobey-forum-launches-digital-id-expert-grouphtml

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[Mobey Forum,](https://www.mobeyforum.org/?utm_source=iseepr&utm_medium=PR&utm_campaign=Digital_ID) the global industry association empowering banks and other financial institutions to shape the future of digital financial services, today announces the formation of the [Digital ID Expert Group](https://www.mobeyforum.org/expertgroups/?utm_source=iseepr&utm_medium=PR&utm_campaign=Digital_ID).

The group, co-chaired by Jukka Yliuntinen, Vice President at Giesecke+Devrient Mobile Security and Simon Austin, Director at UBS Innovation Lab, will define the role of banks within the identity management ecosystem, explore the key market drivers and opportunities, and analyse the feasibility of potential business models and revenue streams.

“Truly convenient, secure and scalable digital identity solutions have proved elusive to date,” comments Jukka. “The rapid pace of digital transformation, coupled with the ongoing impact of massive data breaches, means many industries are still playing catch-up when it comes to establishing and verifying identity for online and mobile services. As social media platforms and tech start-ups, for example, converge on the identity ecosystem, the question over who creates and manages digital identities is growing in importance.

“The good news is that [digital ID plays to the core strengths of banks](https://www.financedigest.com/standard-chartered-rolls-out-digital-bank-in-hot-singapore-market.html "Standard Chartered rolls out digital bank in hot Singapore market"). Banks are trusted institutions with a proven record of establishing and verifying identity to [protect assets](https://www.financedigest.com/how-to-best-protect-assets-following-major-global-shifts.html "How to Best Protect Assets Following Major Global Shifts") and transactions. And as banks already create strong digital identities for their own services, they have the regulatory know-how and established processes in place to play a key role within the [identity management](https://www.financedigest.com/how-to-manage-identity-in-a-hybrid-cloud-environment.html "How to manage identity in a hybrid cloud environment") ecosystem. There are [huge opportunities](https://www.financedigest.com/microbial-lipase-market-huge-growth-opportunity-between-2019-2029.html "Microbial Lipase Market Huge Growth Opportunity between 2019-2029") for those who get it right, and banks may be best-placed to capitalise.”

Elina Mattila, [Executive Director](https://www.financedigest.com/fiat-republic-the-specialist-baas-platform-that-bridges-web3-and-banks-announces-the-appointment-of-two-industry-experts-as-non-executive-directors-to-the-board-of-its-dutch-subsidiary.html "Fiat Republic, the specialist BaaS platform that bridges web3 and banks, announces the appointment of two industry experts as Non-Executive Directors to the board of its Dutch subsidiary.") at Mobey Forum adds: “There are of course challenges to consider. The identity ecosystem has become fragmented and complex, with too many [solutions of limited applicability creating](https://www.financedigest.com/veritone-launches-marvel-ai-a-complete-end-to-end-voice-as-a-service-solution-to-create-and-monetise-hyper-realistic-synthetic-voice-content-at-commercial-scale.html "Veritone Launches MARVEL.ai, a Complete End-to-End Voice-as-a-Service Solution, to Create and Monetise Hyper-Realistic Synthetic Voice Content at Commercial Scale") both confusion and vulnerabilities. [Developing strategies](https://www.financedigest.com/yves-mirabaud-says-we-are-on-track-with-our-development-strategy.html "Yves Mirabaud Says “We are on track with our development strategy”") to deliver interoperable identity, therefore, should be a central consideration.”

Mobey Forum’s Expert [Groups provide](https://www.financedigest.com/tech-amigos-provides-unrivalled-aws-cloud-service-support-for-autorama-groups-leading-brand-vanarama.html "Tech Amigos provides unrivalled AWS cloud service support for Autorama Group’s leading brand, Vanarama") members with exclusive insights, strategic evaluation and unparalleled opportunity to establish relationships with international experts in a non-commercial environment. By exchanging ideas, mapping the technologies and exploring the [potential business](https://www.financedigest.com/the-real-potential-of-web-3-0-and-blockchain-for-business.html "The Real Potential of Web 3.0 and Blockchain for Business") models, the Digital ID Expert Group aims to enable banks to both address the challenges and seize the opportunities presented by this evolving market.”

The Digital ID Expert Group will be meeting at Mobey [Day Europe](https://www.financedigest.com/omicron-found-in-europe-11-days-ago-jolts-markets-on-vaccine-fears.html "Omicron, found in Europe 11 days ago, jolts markets on vaccine fears") in Vienna, 04-05 December. For further information and to register, visit the [Mobey Day website](https://www.mobeyforum.org/mobey-day/?utm_source=iseepr&utm_medium=PR&utm_campaign=Digital_ID).


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