The Digital transformation Agency is charged with completing Australia’s digital identity system, with the goal to allow citizens to access a range of identity sensitive services such as government portals and financial solutions with a more simple and streamlined approach – complete with biometric proofing. Why is this relevant to fintech? the DTA has said that the technology was successfully connected to new products – such as comparing a selfie to a passport photo – allowing for financial services providers to conduct their KYC – proving that biometric digital identity can be incorporated for heavily regulated financial services providers, lessening their operational burdens.
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