Lloyds Bank is launching a digital ID app called Lloyds Bank Smart ID, offering a secure method for individuals to verify their identity using their smartphones, eliminating the need for document sharing or excessive personal data disclosure. This development follows Lloyds Bank’s £10 million investment in digital ID specialist Yoti earlier this year.
The reusable app enables users to share specific information, such as their name, date of birth, or proof of age for those over 18, with businesses that require it. It is part of the ‘Digital ID Connect’ network, connecting Lloyds Bank’s app with other digital IDs within the Yoti ecosystem.
In the UK, Yoti’s ID and Post Office EasyID apps are already accepted for various purposes, including parcel collection at the Post Office, age verification at cinemas and convenience stores, and as proof of identity for employment, rental, and background checks, certified by the UK government.
Businesses that currently accept Yoti ID and EasyID can also accept Lloyds Bank Smart ID, as these three Digital ID apps are interoperable and can be used interchangeably.
By FCCT Editorial Team
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