Digital Identity can play a critical role in enhancing Anti-Money Laundering (AML) Frameworks and bolstering defenses against financial crime. As the first in a new 3-part series on Digital Identity, this paper explores the key considerations for international standard setters and local regulators on how to embed Digital Identity and promote widespread uptake.
The IIF believes Digital Identities have great potential in expanding access to finance, improving risk management, and driving broader digital transformation of financial services thereby enabling financial institutions to explore new business opportunities. The subsequent papers in our series will examine how Digital Identity can promote financial inclusion, as well as exploring those emerging business opportunities.
