Gemalto has announced a new digital ID platform aimed at enabling end users to sign into a range of services with the same secure credentials.
Dubbed the “Trust ID Network”, the platform is based on R3’s Corda, an enterprise-focused blockchain platform, helping to ensure the security of user data through decentralized storage. For end users, though, the platform will operate primarily through a mobile app called “ID Wallet”.
In announcing the new ID platform, Gemalto emphasized its suitability for financial services organizations seeking to comply with Know Your Customer regulations such as the European Union’s AMLD 4 and 5, and the GDPR and PSD2. The company added that R3’s Corda platform “already works with over 200 financial institutions and other partners worldwide.”
Of course, with its use of blockchain and mobile ID technologies, the Trust ID Network is perhaps too ambitious a solution to simply be launched and implemented by banks across the board. So Gemalto says it is currently inviting a “wide range of stakeholders” to participate in pilot projects scheduled for later this year. The company hasn’t yet offered further details about these pilots or their timelines, but with the financial services industry increasingly leaning toward mobile-focused technologies to interact with their customers, Gemalto and its partners will likely be eager to get the ball rolling.