With the growing preference for online service delivery, consumers and service providers - from retailers & banks to energy & telecommunications providers - need better ways of establishing trust.
The TrustID framework improves the security, privacy and convenience of accessing online services.
Current approaches to identifying and authenticating individuals are fragmented and siloed, which has resulted in the proliferation of identity credentials and passwords. This proliferation has given rise to security vulnerabilities and created significant inconvenience and inefficiencies, which undermine the effective development of the digital economy.
The TrustID framework addresses these problems by reducing the requirement for sharing personally identifiable information. The framework is not a solution in and of itself; it presents a series of rules and guidelines for organisations to adhere to in their design and build of products and services. These business rules and technical specifications ensure interoperability between different service providers. Importantly, the framework is designed to support multiple and competing service providers, offering customers choice.
Participation in the TrustID framework will be open to all organisations that meet the accreditation requirements, currently under development.
In addition, Australian Payments Network is currently undertaking consultation with interested parties with respect to the governance structure of the TrustID Framework. Submissions can be made here.
For more information on TrustID please get in touch.