Our Digital Identity Trust Framework (DITF) project seeks to tackle the longstanding challenge of multiple identity verifications in a property transaction; which each party in the process regulated by a different entity with their own identity, Know Your Customer and AML requirements.
“Currently a seller’s and buyer’s identity is verified up to 5 times by the different relying parties. Conveyancers, estate agents, mortgage intermediaries and financial services are regulated by different entities with different levels of oversight and compliance creating their own conflicting guidelines on identity verification.”
The solution, supported by all the legal and estate agency regulators and representative bodies, is to create a centrally agreed framework, aligned to DCMS policy objectives, against which all processes and providers would be accredited to provide greater surety of data quality and reliance; the current process by which organisations may rely upon other’s checks, but are liable should the checks be inaccurate.
Digital Identity Trust Framework for conveyancing would rely on a government backed identity standard, GPG45: Identity proofing and verification of an individual (GPG45), and accreditation against that standard for Identity Providers. This would allow all organisations in the conveyancing transaction to trust in the verified identity.
Etive is working alongside the Department of Culture Media and Sport (DCMS) which is developing an UK-wide Digital Identity Trust Framework. Good Practice Guide (GPG) 45 sets out “How to prove and verify someone’s identity” is written by Government Digital Service (GDS).
The proposed Digital Identity Trust Framework for conveyancing would rely on a government backed identity standard, GPG45: Identity proofing and verification of an individual (GPG45), and accreditation against that standard for Identity Providers. This would allow all organisations in the conveyancing transaction to trust in the verified identity.
http://karen-keogh.co.uk/portfolio/the-five-cypress-trees/ Why a trust scheme?
- Government, DCMS, is developing a UK Digital ID Trust Framework.
- Government expects each sector to develop its own scheme within the framework to meet its specific requirements.
- Development of the HBS will meet government standards and is being developed with support and input from DCMS, HMLR & HMRC.
- The HBS Trust Scheme will be interoperable with other schemes that meet the government framework requirements.
order gabapentin online overnight The Project
- To design, develop, implement and test a digital identity trust framework for the home buying and selling process.
- Ensure that a consumer only has to have their identity verified once and has the ability to share this with all other relying parties through the process.
- The trust framework is to enable a ‘trust’ and ‘reliance’ agreement between relying parties, for those identity providers (IDPs) who are accredited.
- Ensure interoperability with other trust schemes e.g. finance and aligned with DCMS policy.