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Big Four Throw Support Behind AP+ ConnectID Digital Identity Ecosystem

Australia
Uncategorized
Payments, Regulatory & Government, Technology

(5 September 2022 – Australia) The Big Four Australian bank majors declared their unanimous support for Australian Payments Plus (AP+) ConnectID standards-based national open identity infrastructure system.

ConnectID is designed to protect customer privacy and drive productivity in the Digital Economy. ANZ, CBA, NAB and Westpac will provide identity checking as a new service with the newly created AP+ co-ordinating their investment to support banks response to competition from international payments processors and corporates also expanding into the digital ID space such as Mastercard and Australia Post.

Preceding AP+, eftpos, New Payments Platform Australia (NPPA) and BPay, now part of the merged entity, were individually exploring digital identity. ConnectID was set-up by eftpos and accredited under the federal government’s Trusted Digital Identity Framework in 2021.

AP+ CEO Lynn Kraus highlighted digital ID as one of four key priority areas on top of QR code payments, making eftpos more attractive for eCommerce and the development of smartphone digital wallets.

“This is a major milestone for the Australian industry’s adoption of digital identity, aiming to securely and simply deliver a seamless online identity verification experience to solve real world issues. We are excited that AP+ can deliver innovation, security, and convenience to the daily lives of Australian consumers and businesses through the creation of a national digital identity ecosystem with ConnectID” commented AP+ CEO Lynn Kraus.

“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. Australians trust the security and reliability of their banks and payments providers, for that reason developing a robust, standards-based digital identity ecosystem that can be used by major banks and trusted Australian organisations is a natural extension for AP+. ConnectID is committed to help Australian banks, businesses and local retailers protect the sovereignty and security of Australian payments and identity data” stated ConnectID AP+ Managing Director, Andrew Black.

“We are pleased to help our customers have more control of their data and privacy, enabling them to share their personal information with approved merchants, backed by the security of the CommBank app. The quick online process will save customers time and help keep them safe online” said CBA General Manager, Open Data, Katherine Sleeth.

“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. NAB is proud to play an integral role in bringing digital identity to the Australian market, with customer empowerment top of mind for the bank throughout the process. NAB’s priority in helping bring digital identity to life has been to empower customers with choice, to verify their identity how and when they want, whilst ensuring privacy and personal data is protected” commented NAB Chief Digital, Data and Analytics Officer, Angela Mentis.

“We think that digital identity will be the most crucial enabler of safe and secure interactions in our future economy, and are certain that customers can have trust in this solution” Mentis added.

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