Identity verification

Businesses are tasked with carrying too much of the burden of protecting customers' personal information, and typically turn to Social Security numbers. The advent of self-sovereign identity may give consumers a chance to reclaim control over their data and how it’s used, Finicity's Nick Thomas writes.

Tencent Holdings Ltd. is working with the Chinese government to create an electronic pass system that smooths travel between Hong Kong, Macau and the southern province of Guangdong.

Talking with Shari Van Cleave, head of Wells Fargo Digital Labs; Citizens Financial makes a big move in mortgages in purchasing Franklin American; a rewards blockchain could give Amex access to a wealth of customer data; and more from this week's most-read stories.

Unless near zero-friction identity security is embraced, connected devices cannot be used for payments in a substantial way, according to Xavier Larduinat, manager for innovation at Gemalto.

With the acquisition of Confyrm, the bank is among the few players that are putting themselves in position to sell ID authentication services to other businesses.

The authentication software and hardware provider is shifting its focus to identity verification and account onboarding, another sign that the newest generation of bank customers is not interested in coming into a branch to set up an account.

The recent outcry over government use of Amazon's facial recognition software will force TD Bank, USAA and others to confront flaws in the technology that make it harder for women and minorities than white men to use mobile banking.

The move is part of a larger trend to provide enterprise customers with tech capabilities available to retail customers.

How a measure to make opening online accounts easier was crafted — and why it needs to pass Congress.

How a measure to make opening online accounts easier was crafted — and why it needs to pass Congress.