On 26th April at Future Identity Finance, Laura Camplisson, our Future Identity Portfolio Lead, caught up with Paul McGuire, Co-Founder and CEO at tru.ID to discuss the most exciting trends and technologies shaping the future of digital identity and finance. 

tru.ID is an innovative provider of APIs for instant, invisible mobile authentication. tru.ID leverages the cryptographic security of a SIM card to verify the user’s mobile number, to establish a digital identity that is mobile native, universally accessible, and private by design.

“Today the world is going mobile, mobile is becoming the default device and mobile apps are proliferating. Businesses spend a lot of money building a mobile app but then have to onboard a user, and typically that’s a terrible experience,” Paul says when addressing the key trends driving the adoption of digital identity.

“[Businesses] get a lot of drop off because of that friction, but there are tools now in mobile devices that allow you to provide identity assurance and authentication without building barriers.”

Future Identity Finance brought together a community of identity innovators from financial institutions, fintechs and technology enablers. We explored how innovation and customer expectations are changing the way we access financial services, and what more needs to be done to protect businesses and their users from fraud.

Paul explains that financial institutions and other businesses are not leveraging the technologies and data points that exist within a mobile phone to the full extent. “I think if you put those things together in the right way, a mobile phone can give you that high level of security, without impacting the user experience.”

Click the video below to watch the full interview.

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