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Just one password? Swiss groups plan single online identity
November 21, 2017 / 5:36 PM / 21 days ago

Just one password? Swiss groups plan single online identity

ZURICH (Reuters) - Swiss consumers will be able to use a single digital identity to buy online products and services under a project unveiled on Tuesday by nine big companies.

CEO Markus Naef of Swiss Sign AG presents plans to launch a single digital identity for Swiss consumers during a news conference in Zurich, Switzerland November 21, 2017. REUTERS/Arnd Wiegmann

The aim is to let people use just one login profile to order in shops, buy train tickets or do banking transactions, according to the consortium.

It includes UBS, Credit Suisse, Swisscom, Swiss Post, stock exchange operator SIX, Raiffeisen [RFSHW.UL], Swiss Railways, Zuercher Kantonalbank [ZKB.UL] and insurer Mobiliar.

The plan is to create a joint venture next year for the platform similar to ones in use in Sweden, Norway and Denmark.

The government will support the project by certifying the identity of customers, but the consortium partners will provide the infrastructure. Their existing clients already cover three quarters of the Swiss population. They intend to invest tens of millions of Swiss francs in the project.

The government has announced plans to introduce legislation by mid-2018 enabling the new digital ID system.

Reporting by Angelika Gruber, Writing by Michael Shields, editing by David Evans

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