Raidiam powers ConnectID, a revolutionary national digital identity exchange that will improve identity verification for consumers and businesses while protecting their privacy. Customers can use a trusted institution to verify themselves and share their data directly with a business via a secure API. It is an initiative of Australian Payments Plus (AP+), with the country’s big four banks coming together to launch this national consortium ecosystem.
Using Raidiam Connect, it represents the most sophisticated implementation of our product so far. This initiative is ground-breaking for two key reasons.
Firstly, it incorporates OpenID Connect for Federation, which enables network to network connections without the need for ecosystem controllers to give up their own control or autonomy. This takes data sharing technology to another level by paving the way for cross-sector or global interoperability.
Secondly, this implementation of Raidiam Connect uses FAPI 2.0 – ConnectID is the first scheme in the world to adopt this security standard. FAPI 2.0 incorporates the latest security measures but additionally introduces a level of simplicity that makes it even more secure, cost effective and easy to adopt as it leaves very limited areas for confusion or error. This promotes competition and inclusion in data sharing participation as it removes the technical complexities and need for substantial resources for those smaller institutions who may otherwise struggle to participate.