Data and analytics platform LexisNexis Risk Solutions has formed a partnership with Nuggets to support the implementation of self-sovereign digital identity (SSI) solution.
SSI gives consumers the power over their personal data, enabling them to choose when their data and identity documents are accessed and by whom. It also removes the need for documents to sent away and stored in either physical or digital data silos.
The deal between LexisNexis and Nuggets aims to validate the benefits and strengths of the self-sovereign digital identity services. They have been working together since 2019, on a number of discovery initiatives.
LexisNexis managing director Steve Elliot said, “Effective solutions that can digitally identify and authenticate a person more quickly, more accurately and more securely, can have wide-ranging benefits for individuals, organisations and society as a whole, from reducing the time it takes consumers to acquire goods and services, to widening access and reducing fraud and money laundering.
“It’s really exciting to think that innovations like these could help reduce the increasing prevalence of large scale breaches of consumers’ personal data. We’re really excited to be working with Nuggets to explore how SSI can help achieve those benefits whilst maximising data privacy and security for consumers.”
Copyright © 2018 RegTech Analyst
