Smart ID | Deloitte UK

About Smart ID

Deloitte’s Smart ID platform is changing the way both individuals and organisations manage their digital identities. Smart ID provides a new, transparent way for individuals, organisations and devices to obtain, verify and share identity credentials with one another.

Users can create and store identity attributes like an ID reference, driving licence or passport, which can be endorsed by third parties to form verifiable credentials for use within any digital interaction. The platform offers vast opportunities for the automation of identity linked processes such as customer registration or KYC (Know Your Customer).

Looking ahead, a smart identity can hold digital assets representing money or physical property, enabling users to complete complex transactions involving the exchange of ownership and other forms of value transfer, all within a single platform.

Who is Smart ID for?

Individuals

Smart ID enables individuals to maintain a personal library of attributes associated with their identity. An individual can then add weight to the validity of that attribute, by seeking endorsements from trusted sources of authority.
Organisations

Any entity can be represented digitally, using attributes to represent key information, such as legal entity reference and beneficial ownership. Organisational roles can be delegated to individual Smart IDs in order to provide auditability of organisational-level transactions.
Internet of things

Smart ID can help solve the problem of delegated ownership, as well as keeping a shared audit log of which other IDs have been interacting with the device. Connected devices and smart property can use Smart ID to manage key attributes with other IoT devices.

Real world application

Meet Alice. Alice has a current account with her bank, but wants to open an account for her business.

Instead of the retail bank having to transfer confidential documentation to the commercial bank in order to validate Alice’s identity, both organisations trust Alice’s Smart ID. In order to pass the commercial bank's KYC checks, Alice simply sends them her digitally-signed documents from the retail bank (through her Smart ID app).

Well done Alice.
Meet Bob. Bob has a current account with his bank, but wants to apply for a mortgage.

The mortgage department need additional information from Bob to prove he’s employed. Bob’s employer has endorsed his Smart ID. This has been shared with the bank, who can verify his employment status - now and on an ongoing basis.

You're welcome Bob.

How Smart ID works

Smart ID makes it easier for customers to manage their identity information by reducing the number of places they need to maintain it, and simplifying the process of sharing it with others.

For organisations, Smart ID provides a platform for efficiently receiving and verifying customer information, and for staying up to date with changes on an ongoing basis.

Users register a Smart ID and load identity attributes into it, such as a driving licence, company registration identifier or device id (or anything else), which are private by default but can be optionally shared with others.

To build trust in this information, third parties can add revocable endorsements to each attribute to authenticate their validity.

This combination of features enables a user to obtain verifiable credentials which can be used to enable automation of identity verification processes within any digital process (such as new customer registration).

Our first use case, the Smart ID KYC Application, enables Financial Institutions of all sizes to use Smart ID to manage the end to end know your customer process for small and medium sized enterprises in a simple, digital, and cost effective way.

Using the power of Blockchain

Deloitte Blockchain is a specialist team within Deloitte. We advise, design and implement innovative solutions applying blockchain technology.

We span all industries and are tightly connected on a global level with blockchain specialist groups across Deloitte, including our broader FinTech initiative The Grid and the EMEA Financial Services Blockchain Lab which is coordinated out of Dublin.

Our Blockchain team works closely with other centres of excellence in digital, analytics and information management to create ground breaking new thinking. We have over 100 Blockchain SMEs comprising of developers, designers and thought leaders, who work with international organisations looking to roll out blockchain-enabled solutions across the globe.

Our team of experts work with you to develop blockchain capabilities. From identifying the best use case, assessing suitability, developing proof of concepts and building market ready solutions. We have a range of offerings to accelerate your use of blockchain which can be tailored to provide a launchpad for rapid solution development.

Key contacts

Michael Robinson

Michael is the Chief Technology Officer at Deloitte Digital UK. He is responsible for the continual development & on-going operation of Deloitte Digital’s technical capability. Michael has experience delivering innovative digital solutions that not only excite customers but are underpinned by the right technologies choices, integrations, and operational processes. While at Deloitte he has led the setup of Digital Studios in London, Edinburgh and Belfast and he has worked with clients to help them deliver innovative solutions and improve their own digital delivery capability.

Michael has been a leading advocate of innovative approaches to delivering digital transformation. He is a subject matter expert in the areas of distributive technologies, application development, digital technologies, collaborative working, and Agile processes. Michael has written a number of papers and represented Deloitte’s views speaking at a number of universities and conferences around the world.

Email: microbinson@deloitte.co.uk

Derek Ryan

Derek is a Partner in Forensic service area of the Financial Advisory division of Deloitte’s practice in London. Derek has over 14 years of experience in Financial Services with a focus on the Capital Markets sector, specialising in the delivery of large scale business led change with a data, technology and/or operations component. Derek has focussed on building eminence within the financial crime domain with a foundation in AML-KYC complex programme delivery, target operating model design, deploying innovative solutions and establishing sustainable business as usual functions.

Email: derekryan@deloitte.co.uk

Tyler Welmans

Tyler is a Senior Manager who spent 10 years in industry across legal, telco, media and FSI environments before joining Deloitte Digital in 2012 where he developed a focus on public sector consulting. Tyler is passionate about emerging and disruptive technology, particularly trends that can positively impact society, and is keenly interested in Digital Identity, the Internet of Things, and Blockchain technology. Tyler co-founded the Deloitte Blockchain Lab in 2015.

Email: twelmans@deloitte.co.uk

Del Nadarajah

Del is a Director within Deloitte Forensic. Del has designed and led multiple programmes across a range of Financial Service organisations helping them respond to complex Financial Crime challenges. Del also leads the Deloitte Financial Crime transformation capability, in particular looking at disruption across financial services and the impact on Financial Crime operations.

Email: dnadarajah@deloitte.co.uk

Deloitte

Smart ID, redefining the way we identify ourselves - the future of digital identity.

A new way for individuals, organisations and devices to obtain, use and verify identity credentials when communicating with one another.

About Smart ID

Who is it for?

How it works

About Smart ID

Who is Smart ID for?

Individuals

Organisations

Internet of things

How Smart ID works

Using the power of Blockchain

Join our GitHub repository

Key contacts