White Paper

Reducing Fraud with BankID and Verifiable Credentials

Banks invest heavily in Know Your Customer processes to foster trust with customers. With identity theft on the rise and generative AI challenging traditional methods, banks must ensure robust authentication across all channels to safeguard both themselves and their customers. As they prioritize security, identity proofing will intensify, alongside growing regulatory pressures, amplifying costs for banks.

This white paper explores:

• The complexities, risks, and expenses associated with implementing BankID using traditional methods.
• The importance for banks to utilize digital wallets and decentralized identity for a flexible and portable BankID solution, catering to diverse use cases.
• Easy-to-implement tools enabling banks to enhance customer service and community engagement by prioritizing privacy, personalized user experiences, and strong authentication without usernames or passwords, while ensuring choice, control, and consent in every transaction.

Download now to learn more!

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