Australia’s Big Four Banks join ConnectID so customers can share less online
Australia’s Big Four Banks – Commonwealth Bank (CBA), National Australia Bank (NAB), ANZ (through ANZ Plus) and Westpac – are now offering well over 10 million customers the ability to verify themselves and securely share their data via digital identity solution ConnectID.
Since ConnectID launched in 2023, the four institutions have successfully implemented the service in a push to make it significantly easier for individuals to protect their privacy online. Their support demonstrates ConnectID’s potential to enhance privacy and reduce data exposure across Australia.
An initiative of Australian Payments Plus (AP+), ConnectID is the bridge between trusted Identity Providers (such as banks) and the business requesting the information. Most of the data people frequently need to share, when buying something online or signing up for a new service, is already stored by these large institutions, and with ConnectID this can be reused to verify themselves as they interact online. This helps customers avoid having to over-share whole identity documents like driver licences and passports where they aren’t needed.
The process is initiated only with the customer’s consent, and as the technical intermediary, ConnectID does not see or store any of the customer’s data.
Digital ID solutions like ConnectID benefit consumers by giving them greater control over their data and reducing the risk of multiple businesses, with varying levels of cyber protections, storing excess information or personal documents. It also simplifies the process of confirming identity and sharing data digitally. They are simply redirected to their Identity Provider’s app to consent and share, no need to download or sign up to a new service.
Businesses also benefit from a more trustworthy digital economy and a reduced need to request, manage, or store critical information from consumers. As a result, these solutions are gaining traction across many industries, like retail, real estate, and human resources.
These are sectors where the need to confirm individuals’ identities is critical and where data often changes hands, which generates the need to invest in data storage and security that is not core to their business. Digital ID solutions can eliminate these needs and reduce risk in the process.
Growing Awareness and Trust
Research conducted by Kantar for AP+ in December 2024 shows a positive shift in awareness of digital identity services, with about 72% of Australians now aware of these solutions, a notable increase over the past year (52% December ‘23).
Andrew Black, Managing Director of ConnectID at AP+, emphasised the significance of the country’s major banks’ support, saying, “ConnectID represents a game-changer for individuals who want more control over their data. Our solution empowers people to verify their identity securely without oversharing, and the support of the big four banks offering millions of Australians a trusted and seamless way to use digital identity is vital.”
Westpac Managing Director, Consumer Finance & Chief Digital Officer, Jason Hair, says the bank invests heavily in keeping customers safe online, with data protection a priority, stating, “Investing in and adopting tools such as ConnectID allow us to help our customers keep their data better protected – backed by our app’s robust safety and security measures.”
Gabriel Steele, General Manager, Customer Identity & Identity Services at ANZ Plus, added, “At ANZ Plus, we’re focused on the security of our customers. Through partnering with ConnectID, ANZ Plus customers are provided a secure and convenient way to verify their identity with approved third parties, helping put customers back in control of the data they share while delivering a smoother online experience.”
Gavin Leon, General Manager Open Banking at Commonwealth Bank, stressed the importance of reducing the overall amount of data floating around, stating, “CBA continues to invest in digital identity as an important building block of Australia’s digital economy. ConnectID offers our customers greater control over their data, enabling them to share only what is necessary, all backed by the security of the CommBank app.”
At NAB, the focus is on giving customers flexibility and control, as the Chief Digital Officer, Sujeet Rana at National Australia Bank (NAB), explained, “At NAB, empowering our customers is at the heart of what we do and choosing who you trust to verify you is just one of the ways we hand back control. With ConnectID, our customers can securely verify their identity and maintain visibility over where they’ve shared their data, and with whom. Plus, nothing is shared without express consent. This is an exciting milestone in Australia’s digital identity journey.”
For more information on ConnectID and its growing role in Australia’s digital identity landscape, visit www.connectid.com.au.
