Deutsche Bank backs pan-industry online identity platform

The bank and partners Allianz, Axel Springer, Daimler and Postbank, have inked a declaration of intent that will see them work on a standard access procedure for online activities, with customers using a “master key” for registration and identification across industries.

The platform is also designed to be open and compatible with projects managed by authorities under the German government and federal states, even at the local government level.

In the future, Deutsche Bank suggests that the platform could be used for digital payment and financial services.

With German federal ministries welcoming the initiative, the partners are now looking to bring in firms from other industries, including aviation, e-commerce, retailers and telcos. Talks are already underway with Deutsche Telekom.

Christian Sewing, deputy CEO, Deutsche Bank, says: “We Europeans must at last fully play out our strengths in digitalisation. The time is ripe for a platform initiative of this kind. It will increase legal certainty for clients and boost the European digital economy’s growth.”

Manfred Knof, CEO, Allianz Deutschland, adds: “As insurers, it has always been crucial for us to be able to handle our clients’ data in a trustworthy manner. This initiative gives us the opportunity to apply the highest level of security standards to the digital financial services that we offer our clients.”