Spanish banks to launch digital ID platform

SELF-MANAGED: The project uses a blockchain-based digital identity model developed by Alastria

Spanish consumers are set to be able to self-manage their digital identity on their mobile device using a blockchain-enabled platform being developed by a consortium of 10 companies that includes leading Spanish banks Banco Santander, Bankia, CaixaBank, and Liberbank.

“Self-managed identity enables people to have their personal data in a single digital identity, backed by the companies involved and stored on their own mobile device,” the consortium behind the project explains.

“Users may decide who to share the data with at any time in a fast, simple, secure process, in order to take up any service with no need to fill in tedious form.

“For example, they may use their data validated by other organisations to hire a car, take out insurance, arrange a loan, take up an electricity service, or any service they wish, in just a few clicks.”

The digital identity platform will also offer “greater efficiency and improvements in various processes, such as registration of users”, as well as “enable participating companies to design new business models (individual and/or collective) to improve the user experience on the basis of the potential of self-managed digital identity,” the consortium adds.

The digital identity project, known as Dalion, was initiated in October 2016 and uses a digital identity model developed by Alastria, a multi-sector association of some 600 businesses, public authorities and academic institutions.

In addition to Alastria and the four Spanish banks, the consortium includes insurance companies Linea Directa Aseguradora and Mapfre, energy suppliers Naturgy and Repsol, IT provider Inetum and Spanish stock market operator BMBolsaE.

Following a “satisfactorily” completed concept test, the project is now entering a second phase of development with a rollout “in a real production environment” planned for May 2021.

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