ISSA Digital Identity and Onboarding Solutions

With the effort from the collaboration of 20 firms, the Digital Identity and Onboarding Working Group (WG) has just completed its second paper which addresses the challenges of client onboarding and digital identification. This paper is supplemented with a video of some of the team from the Digital Identity and Onboarding Working Group (WG).

The paper highlights that Securities Service Providers are currently failing to meet client expectations in this area. It identifies issues that fall within the control of these providers, as well as those that require broader industry collaboration.

The paper urges Securities Service Providers to promptly tackle the issues within their control to enhance client service and accelerate revenue generation. For challenges outside their control, the WG identifies who needs to be involved and what support is required, stressing that progress depends on collective commitment to change. The aim of this paper is to spark action across the industry. We believe that you, your firm, and the wider industry will find this paper valuable and we encourage your participation in advancing these implementations. We are confident that over time, and with increased collaboration with regulators, significant progress can be achieved.