wallet providers

Several consumer facing companies have have expressed interest in working with UCDx to create managed market of wallet providers.

To date, all the interested companies are SMEs active as identity proofing providers in the UK, and certified as compliant with DSIT’s UK Digital Identity & Attributes Trust Framework. Generally, they recognise that their current identity-proofng role may evaporate if Government starts to alllow individuals to download identity attributes direct from OneLogin, and so are keen to shift to a wallet provider role. 

In time, we expect that one of the more nimble banks will enter the wallet provider market, seeking it as a useful marketing opportunity. Others may then follow for fear of being seen to be technically backward. Even big-tech – the likes of Apple and Google – may join in, always supposing they decide to accept regulation.

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The wallet provider role entails:

• collaborating with UCDx, and its appointed development company, to create and /or endorse the necessary technical specifications and software standards
• entering into appropriate contractual relationships, as part of the UCD Trust Framework
• procuring, or developing in-house, and then implementing, standards-compliant software
• participating in demonstrations in order to attract service providers (initially probably learning providers) to host UCD pilots; and
• participating in UCD pilots, at scale, and competing for custom from individuals