Read the ABA’s Submission to the DTA Consultation paper on Digital Identity Legislation
As the world continues to move toward a more digitised way of life, the idea of every Australian having a digital identity is rapidly evolving. Banks are actively exploring digital identity initiatives.
What is a Digital ID?
Digital Identity provides Australian people and businesses with a single, secure way to access government and other services online.
The Digital Identity system includes everything from the policy and processes governing the system, to the technology and systems that allow it to work.
Proposed: extending the Trusted Digital Identity Framework
The Commonwealth Digital Transformation Agency (DTA) is consulting on a proposal for legislation to extend the Trusted Digital Identity Framework (TDIF) beyond federal government agencies to state and territory agencies and the private sector.
Interoperability, choice and improved processes
Australian banks can see the benefit of collaboration between government and industry. The ABA welcomes the development of a digital identity ecosystem that supports interoperability between different solutions (both public and private), allows for customer choice and improves digital customer verification processes across the economy.
Find out more: Open Banking and the Consumer Data Right (CDR)
Required: flexibility for innovation
The interests of the Australian economy will be better served if there is flexibility to innovate and respond to the needs of consumers and businesses. The ABA has also highlighted the need to ensure a harmonized regime for data protection and privacy between the proposed digital identity legislation, the Privacy Act 1988 and the Consumer Data Right regime.