TISA – UK Finance Select ID Reaction
Larry Banda, CEO of TISA Commercial Enterprises, commented:
“Today’s announcement marks a significant milestone in the development of secure, consumer-controlled digital verification in the UK.
A financial services-led service, built around explicit consent and trusted bank-verified information, has the potential to reduce friction for consumers, improve efficiency for businesses, and strengthen defences against fraud.
We are pleased to see Select ID playing a central role in the next phase. Originating from TISA’s Digital ID Working Group, Select ID reflects years of collaboration between banks, providers and wider TISA members to build the foundations of a trusted digital identity ecosystem.
We are proud of the role TISA and its members have played in supporting this journey and look forward to remaining closely engaged as the pilot progresses in the coming months.”
ENDS.
Notes to Editors
- UK Finance’s announcement can be found here.
- TISA has a substantial shareholding in Select ID through its subsidiary TISA Commercial Enterprises.
- TISA is a not-for-profit membership organisation committed to improving the financial wellbeing of all UK consumers by working collectively with the financial services industry to deliver solutions and champion innovation, for the benefit of people, our industry, and the nation.
- TISA has approximately 260 member firms involved in the supply and distribution of savings and investment products and associated services. Members include the UK’s major investment managers, retail banks, online platforms, insurance companies, pension providers, distributors, building societies, wealth managers, third party administrators, FinTechs, financial consultants, financial advisers, industry infrastructure providers and stockbrokers.