Finovate Spring 2017 featured demos of the biggest disruptors and player in the finance industry. Among them was ID.me CEO and Co-founder Blake Hall and Director of Strategic Partnerships Steve Smith, who presented a live demo of the ID.me Identity Gateway to an audience of fintech investors, startup leaders, and professionals.
To ground the audience in the complex topic of digital identity, Hall took out his military ID.
“What does a physical ID card do for you?” Hall asked. “When I was in the military, I could use this credential across different sectors of the economy for different things. I could get a retail discount from Home Depot, I could open a bank account, I could get access to a military base, I could access my DoD email. Do digital logins work that way were trusted logins are portable and user centric across different sectors of the economy and different websites to prove who you are? The answer is no.”
Hall explained that digital identity is built around enterprises instead of users, forcing users to manage dozens or even hundreds of separate login credentials. This system is a far cry from the portability and ease of managing a single physical ID.
The ID.me Identity Gateway streamlines identity verification through a one-time, creating a credential users can take with them across the web to represent their legal identity.