Eleven areas try digital identity schemes in the residential real estate sector

Digital identity schemes for the residential real estate market will be tried in 11 locations.

The MyIdentity scheme allows buyers and sellers to prove their identities only once, rather than repeatedly.

This information can be shared with other parties such as realtors, mortgage providers, lawyers and real estate agents within the framework of the Digital Identity Trust scheme.

Digital identity scheme, Created by technology supplier Etive With a grant from Innovate UK, it will be tried in Battersea, Chiswick, Clapham, Putney, Wimbledon, Richmond and Cue in London. It will also be piloted in Cheltenham, Gloucester, Harrogate and York, with the plan going live in October 2021 and testing expected to continue until August 2022.

The real estate sector has already adopted digital identity verification and is officially approved by Money Laundering and Terrorism Financing (Amendment) Rule 2019.

Housing Minister Christopher Pincher said it was good to see the development of the plan progressing. “We know that buyers and sellers are confused and dissatisfied with the current process of checking their identities over and over,” he said. “A single check that can be trusted by multiple parties helps to provide a better modernized home buying experience.”

The scheme is designed for the housing market, but the project is in line with the plans of the Department for Digital, Culture, Media and Sports. Create a framework of trust It has the standard of digital ID that guides the ID market.

Earlier this month The government has announced its second iteration Digital Identity and Attribute Trust Framework, Explain how digital identity providers are certified and make it easier for people to use digital identity services.

Organizations wishing to be accredited can participate in the trust framework in several ways, either by setting up schemes for multiple organizations as a single organization or by joining an existing scheme set up by another organization. increase.

“The scheme is made up of various organizations that agree to follow a specific set of rules regarding the use of digital identities and attributes,” said the framework document. “These organizations may be operating in the same sector, industry, or region, which means building products and services for similar types of users.”

The MyIdentity scheme falls into this category according to a set of government-sponsored criteria that everyone who uses it must follow.

All identity providers should also use set guidance on how to provide and validate someone’s identity. Governments want a flexible approach that allows organizations to continue developing and iterating new services to meet their users’ needs.

Eleven areas try digital identity schemes in the residential real estate sector

Source link Eleven areas try digital identity schemes in the residential real estate sector

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