Institutions can also benefit from Digital ID technology

March 29, 2023
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Digital ID technology has both, positive and negative impacts. It provides benefits to consumers, workers, microenterprises, taxpayers and beneficiaries, civically engaged individuals, and asset owners. It can also help financially excluded individuals to access financial services and simplify e-government services.
“Institutions can benefit from Digital ID technology from improved customer registration and reduced payroll fraud, which could save up to 110 billion hours (up to $1.6 trillion) globally.” – McKinsey Global Institute, Digital Identification
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