Australian Payments Plus Works With Australia’s Top Banks On ConnectID Project

Australian Payments Plus (AP+) has created ConnectID. This feature will allow people to verify their identity securely to third parties without sharing unnecessary information about how such information might be used or misused.

ConnectID will work differently as consumers will not have to provide proof of identity documents each time they are prompted to. Instead, they can ask a participating business to verify consumer information through organizations they already trust with their data, such as banks.

ConnectID is being rolled out to banking clients across Australia. The tool is available to the Commonwealth Bank (CBA) and National Australia Bank (NAB) customers in several use cases. It is also enjoying support from strategic partners such as ANZ and Westpac.

ConnectID Provides Security In Identity Verification

The ConnectID feature does not view or store personal information. Instead, it operates like a bridge between organizations seeking to verify identities and those offering the verification.

The process will only kick-off after a customer gives their authorization. Therefore, ConnectID will bring together the convenience of real-time identity verification while boosting security and consent.

With the ConnectID tool, businesses will give customers access to an easy and secure verification process. However, businesses will not have to over-collect and store customers’ personal information.

Promoting Safety For Consumers

Businesses operating in different industries will use the ConnectID tool to guarantee safety in identity verification. Some businesses that can leverage this offering include Credenxia, Referoo, ServiceSeeking, and RentBetter.

The managing director at ConnectID, Andrew Black, said, “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 organizations they trust to store their personal information.”

Black further said that the ability to collect the necessary information only meant compliance with legislation while reducing the risk profile.

He also noted that ConnectID would not create new honeypots of data. Instead, the platform would boost the convenience and confidence of users while verifying customer identities quickly and securely.

CBA’s general manager for Open Data, Katherine Sleeth, noted that Commonwealth Bank would support ConnectID by simplifying the customer identification process and meeting the authentication needs of businesses and consumers globally. The platform would ensure consumer data is stored safely online using strong security and privacy measures.