How are digital identity and authentication evolving in financial services?

Digital identity is shifting from password-based and knowledge-based authentication toward biometrics, device binding, behavioral signatures, and distributed identity frameworks. Regulatory standards (PSD2 SCA, eIDAS, NIST, MAS) mandate stronger multi-factor controls. Wealth platforms integrate identity with suitability checks; insurers integrate identity with claims and health data; fintech prioritizes frictionless onboarding to optimize conversion.

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