IDnow Focuses on Digital Wallets as Newest Member of the IDunion

IDnow will help guide the development of digital identity standards in Europe as the latest member of the IDunion network. As an organization, the IDunion is an advocate for decentralized identity management, and works to create an open ecosystem that will allow European citizens to take advantage of digital identities in their day-to-day lives.

As a member of the network, IDnow will be particularly focused on digital wallets. The company is currently working on a solution that would allow people to store a digital identity in a secure wallet on their smartphone. That wallet could then be unlocked through the use of device biometrics (either face or fingerprint recognition) should the holder ever need to prove their identity to a third party. The wallet gives individuals more control over their personal information, in a manner that is compliant with the latest eIDAS regulations.

IDnow will be modifying its solution to ensure that it is also compatible with the IDunion’s standards moving forward. According to those standards, a good digital identity solution needs to be convenient and cost-effective in addition to being secure, with a strong emphasis on privacy and consumer rights.

“We are excited to play a key role in shaping the future of digital identities in Europe, and looking forward to working together on secure and economical solutions,” said IDnow Co-founder and Technology Managing Director Armin Bauer. “The introduction of a digital identity solution is an important and necessary step for Europe. We now need to think about a unified infrastructure.”

The news is in keeping with IDnow’s prior standards work with organizations like the FIDO Alliance, and with various European regulatory agencies. The company has noted that the demand for digital identity solutions has increased during the COVID-19 pandemic, and has been working to build its portfolio through the acquisitions of Wirecard and ARIADNEXT.

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July 9, 2021 – by Eric Weiss