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How financial services are following in the footsteps of Amazon with digital identity

September 26, 2022


Even before the pandemic hit, sectors like retail, gaming or e-healthcare moved quickly to embrace the speed, convenience and experience of digital services – led by technology pioneers like Amazon or Google.

Traditionally, conventional banks and financial institutions have encouraged customers to visit in-branch, despite the availability of online tools and support via apps or chatbots.

This approach came from a perception that fraud was harder to detect in the virtual world, since many lacked the means to digitally authenticate a person’s identity securely. In addition, they had a natural desire to leverage their large investments in physical presences to generate strong customer trust and loyalty through in-person interactions.

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