Posted on: Tuesday 10th of January 2012
Last week in our blog post on consumer empowerment trends in 2012 we predicted that managing personal reputation and identity will gain even greater prominence this year as people increasingly conduct and manage their lives online. The first significant development in this space took place yesterday when Miicard (which provides a digital passport to prove who you say you are) and Callcredit (one of the UK’s leading credit reference agencies) announced a strategic partnership. They are bringing to market a completely new consumer-friendly Electronic Identity and Verification (eID&V) service removing the need for paper based checks such as passports and driving licenses currently required to prove identity when consumers apply for products online.
According to Callcredit, ‘the combined capability of Callcredit’s award winning data based electronic verification solutions combined with miiCard’s anti-impersonation technology will provide an unrivalled level of protection and convenience for consumers and companies wanting to do business with each other.’
James Varga, Chief Executive of miiCard, commented: “In a digital economy where there is a 70% to 90% drop out rate when selling financial products online as soon as the process goes offline, removing the drivers’ licence, passport and utility bill checks is critical. Creating this level of trust online will not only change the face of financial services but anywhere you need to know who you’re dealing with.”
Callcredit and Miicard want to ‘change the way financial products are sold online’. It’s an ambitious goal but the new eID&V service shows there is market demand and that things are changing in this area. Certainly for consumers managing their identity and proving their trustworthiness online became one step easier yesterday.