@city_am: Banks want you to use a digital ID, but they are changing the name to avoid a major backlash. High-street lenders are trialling a voluntary "digital verification service" instead, rolling out the technology with major brands like NatWest. The industry is rebranding the system because the phrase "digital ID" has become incredibly divisive. However, banks are desperate to implement it to stop rampant online crime. Scammers stole over £1.2 billion through payment fraud last year alone, and firms say standard public warnings just aren't cutting it anymore. This new service will build a secure layer of identity tracking directly into your banking app to lock down your cash. Listen to Business As Usual for more. #DigitalID #UKBanking #Fintech #FraudPrevention #MoneyTips #BusinessNews

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Thursday 02 July 2026 15:35:50 GMT

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Comments

Every problem is an :

Why? We already have fingerprint id, 2 step verification, and every payment takes forever. Companies will cease to function

2026-07-02 15:56:30

Undoubt :

I don't understand why we don't have to authorize every online payment through our apps. It would make much more sense

2026-07-02 16:04:23

Doesn't know :

'the debate is so toxic' - digital ID is widely hated

2026-07-02 17:53:21

PastermasterM40 :

we don't

2026-07-02 16:10:27

cosmicricey :

volantery, the same lie. they will just make it impossible to use any other verification method

2026-07-03 00:14:23

BeX & Lx :

All UK banks have your "National Insurance Number" so you are already id

2026-07-02 16:14:30

I didn't win the lottery :

just call it "child safety" problem solved.

2026-07-02 22:34:22

Mimi :

They want to store your biometrics on bank servers !! No way I’m doing that.

2026-07-02 22:17:44

BWTAX2026 :

👏👏👏

2026-07-02 18:07:43

01126342t :

it's not divisive, the tiny but very vocal minority are just extra gobby about it

2026-07-02 17:22:39

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