Why banks want to use digital ID without calling it digital ID

High-street lenders are trialling a voluntary "digital verification service" instead, rolling out the technology with major brands like NatWest. The industry is rebranding the system because the phrase "digital ID" has become incredibly divisive. However, banks are desperate to implement it to stop rampant online crime. Scammers stole over £1.2 billion through payment fraud last year alone, and firms say standard public warnings just aren't cutting it anymore. This new service will build a secure layer of identity tracking directly into your banking app to lock down your cash. Listen to Business As Usual for more. #DigitalID #UKBanking #Fintech #FraudPrevention #MoneyTips #BusinessNews