Banking and finance industry body UK Finance is supporting several major banks to develop a financial services-led digital verification service.Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, NatWest Group and Santander are taking part.The service aims to provide a simple and secure way for customers to verify personal details digitally through their banking app.Based on the relationships banks and building societies have with their customers, the relevant verified information – such as someone’s name, age or address – would be shared securely with a third party to enable someone to complete a transaction, or access a service.The initiative could be used to make purchases online, verify age and identity through online platforms, to help with property transactions or open an account online. This could be done without needing to share physical documents such as a passport or utility bills.Many online processes still require customers to repeatedly verify who they are, often through sharing multiple physical documents or pieces of information to confirm a single detail such as their age or address.UK Finance said any future service would be voluntary and based on explicit customer consent, with customers remaining in control of what data is shared and when.It said that secure, bank or building society verified credentials could help tackle scams, fake accounts and synthetic identities and customers would be able to confirm their identity quickly and securely without repeatedly providing documents.Get a free fractional share worth up to £100.Capital at risk.Terms and conditions apply.Go to websiteADVERTISEMENTGet a free fractional share worth up to £100.Capital at risk.Terms and conditions apply.Go to websiteADVERTISEMENTThe project has used synthetic data to explore the requirements of a digital verification service and the next stage will involve a live pilot in a controlled real-world environment in the coming months.UK Finance said it would also welcome expressions of interest from organisations interested in taking part in future pilot activity or exploring how the service could help customers’ experiences.This includes retailers, digital platforms and other organisations.Jana Mackintosh, managing director, payments and innovation at UK Finance, said: “The financial services sector is ideally placed to deliver a secure and trusted digital verification service.“Using already verified information, shared only with the customer’s explicit consent, could help make digital transactions safer, quicker and more convenient as well as ensuring customers have full control over how their data is used.”Nick Mothershaw, chief executive of Select ID, said: “We are pleased to support this industry initiative to explore how trusted, bank-verified information can be used to make digital verification more secure and convenient for customers and businesses.”