Deloitte’s Smart Identity

Deloitte’s Smart ID platform is changing the way both individuals and organisations manage their digital identities. Smart ID provides a new, transparent way for individuals, organisations and devices to obtain, verify and share identity credentials with one another.

Users can create and store identity attributes like an ID reference, driving licence or passport, which can be endorsed by third parties to form verifiable credentials for use within any digital interaction. The platform offers vast opportunities for the automation of identity linked processes such as customer registration or KYC (Know Your Customer).

Looking ahead, a smart identity can hold digital assets representing money or physical property, enabling users to complete complex transactions involving the exchange of ownership and other forms of value transfer, all within a single platform.

How Smart ID works
Smart ID makes it easier for customers to manage their identity information by reducing the number of places they need to maintain it, and simplifying the process of sharing it with others.

For organisations, Smart ID provides a platform for efficiently receiving and verifying customer information, and for staying up to date with changes on an ongoing basis.

Users register a Smart ID and load identity attributes into it, such as a driving licence, company registration identifier or device id (or anything else), which are private by default but can be optionally shared with others.

To build trust in this information, third parties can add revocable endorsements to each attribute to authenticate their validity.

This combination of features enables a user to obtain verifiable credentials which can be used to enable automation of identity verification processes within any digital process (such as new customer registration).

Our first use case, the Smart ID KYC Application, enables Financial Institutions of all sizes to use Smart ID to manage the end to end know your customer process for small and medium sized enterprises in a simple, digital, and cost effective way.

Using the power of Blockchain
Deloitte Blockchain is a specialist team within Deloitte. We advise, design and implement innovative solutions applying blockchain technology.

We span all industries and are tightly connected on a global level with blockchain specialist groups across Deloitte, including our broader FinTech initiative The Grid and the EMEA Financial Services Blockchain Lab which is coordinated out of Dublin.

Our Blockchain team works closely with other centres of excellence in digital, analytics and information management to create ground breaking new thinking. We have over 100 Blockchain SMEs comprising of developers, designers and thought leaders, who work with international organisations looking to roll out blockchain-enabled solutions across the globe.

Our team of experts work with you to develop blockchain capabilities. From identifying the best use case, assessing suitability, developing proof of concepts and building market ready solutions. We have a range of offerings to accelerate your use of blockchain which can be tailored to provide a launchpad for rapid solution development.