Building trust in banking through stronger identity assurance 

As more people open bank accounts online, banks need to be sure that the applicant is who they claim to be. Deepfakes and altered documents make this harder, while customers expect the checks protecting them to keep up with new forms of fraud. 

Our latest research among 1,000 UK adults found that 69% of British people are not very confident their bank could distinguish them from a sophisticated fraudster. Yet 80% expect banks to successfully detect a deepfake of their face during a selfie check. These expectations put greater weight on the level of assurance an identity provider can offer. 

Raising the bar for identity assurance 

More than half of respondents (53%) believe a code sent by text or email is enough on its own to prove someone’s identity. However, someone with access to a compromised inbox could receive that code and pass the check. 

Similarly, a selfie that matches an identity document’s photograph does not establish that its genuine holder is present. Verification also needs to detect attempts to use manipulated images and check the document’s authenticity. 

Customers should not need to understand these distinctions. They depend on their bank to choose a provider whose checks deliver appropriate assurance, backed by independent assessment. 

Protecting customers and their trust 

When an account is opened using a stolen identity, the person affected may spend months disputing debts and correcting records. They will look to the bank for help, regardless of who carried out the checks. In our survey, 81% believe banks should be held responsible if their identity provider fails to stop fraud. 

While 78% would feel more confident using a bank with advanced verification, 62% would accept no more than two extra minutes of checks to significantly reduce impersonation risk. 

Jonathan Evans, UK Country Manager at Digidentity, comments: 

“Banks put their own reputation behind the identity provider they choose. If that provider lets an imposter through, it is the bank’s relationship with its customer that suffers. 

“But stronger protection cannot mean an obstacle course for genuine customers. Making people spend more time proving themselves is not, on its own, evidence of better security. Banks should expect their provider to make impersonation harder while making legitimate customers’ lives easier.” 

Providing assurance banks can rely on 

For a bank to trust a verification result, it needs to understand how identity was established and which independently assessed standards support the service. 

At Digidentity, we combine remote identity verification with independently assessed identity infrastructure. Our document checks, liveness detection and facial comparison help establish that the person presenting an identity document is its genuine holder. 

Our inclusion on the GOV.UK Register of digital identity and attribute services enables banks to review our assessed credentials and their scope. Through the Digidentity Wallet app, customers can complete verification on their smartphone, supporting stronger assurance within a straightforward process. 

Learn more here about Digidentity’s identity verification services.