Australia's largest credit union, CUA, and foreign exchange outfit Travelex are among the first four companies to adopt a new digital identity platform from Australia Post, which allows consumers to verify who they are without needing multiple forms of identification.
Digital iD allows people to furnish their bonafides just once, so they can then prove who they are online and in person through the platform's smartphone app.
CUA says it will initially offer Digital iD for new members applying for a CUA eSaver Reward or eSaver Boost account online or via their mobile device, enabling them to verify their identity online in just minutes, while Travelex is to implement the platform as a means to overcome onerous KYC procedures.
CUA chief digital officer Sue Coulter says: “This innovation provides an opportunity to deliver a better member experience for consumers applying for CUA’s digital products and services, while introducing members to a service that could also streamline their interaction with a range of other service providers where identity verification may be required in the future."