Fintech Australia Payments Plus launches a digital ID that protects you data from hackers

While the federal government trundles along with the roll out of a national digital ID framework, Australian Payments Plus (AP+), the consortium fintech backed by BPAY, eftpos and NPP Australia, has developed its own solution to tackle verification, fraud and identity theft, ConnectID.

ConnectID lets people verify their identity to third parties without having to repeatedly share any unnecessary data – which is subsequently stolen in data hacks.

It’s now available to Commonwealth and NAB customers on a number of use cases, with the remaining big four banks, Westpac and ANZ, also engaging. ConnectID doesn’t see or store personal information, instead acting as a bridge between an organisation seeking to verify someone and another providing that verification – and only when the user authorises it.

That means businesses can offer a simple and secure verification process without the need to over collect and store personal customer information. A number of tech startups, including Referoo,  Credenxia, ServiceSeeking, OnePassport, RentBetter, and Shaype  have already embraced ConnectID.

AP+ CEO Lynn Kraus said they see ConnectID playing an important role in building trust in  our digital economy.

“We’re partnering with proven guardians of identity documentation such as the major  banks to deliver simple and safe identity verification,” she said.

“We’re keen to see ConnectID play a role in an  Australian digital identity framework that brings together both the government and non-government  sectors in a world-leading solution to help protect people’s data.’ 

ConnectID managing director, Andrew Black it protects both the business and the customer, preventing the data “honeypots” that attract hackers.

“This new service will help customers reduce oversharing their data, giving them greater control over what data is being shared and used and choice over which organisations they trust to store their personal information. And from a business perspective,  the ability to collect only what is required means they’re able to comply with legislation and reduce their  risk profile,” he said.

“What’s important to know is that ConnectID is not creating new honeypots of data, in fact, we never see or store customer data.”

NAB’s digital governance boss, Brad Carr, said ConnectID “will make life so much easier for Australians when they are going through a process of validating their identity online, and doing so in a safe way that protects their data and privacy”.

The introduction of ConnectID comes four months after the federal government released the National Strategy for Identity Resilience in June outlining how state and territory governments should make their digital ID systems more robust.

ConnectID launched two years ago as the first non-government operator of a digital identity exchange to be accredited under the Australian government’s Trusted Digital Identity Framework.