Identity is fundamental in finance: to protect against fraud and crime, to fulfil know-your-customer obligations, and to ensure market integrity. At the same time, identification and know-your-customer rules can be major barriers to accessing financial services. This paper considers the various requirements for identification in the financial sector and the evolving nature of identity. We argue that technology presents an opportunity to solve this challenge through the development of digital identity infrastructure and related utilities. The establishment of such utilities requires addressing design questions such as registration methods, data availability, and cross-jurisdiction recognitions. Yet, as with any reform, a balance between flow through efficiency and cyber-security needs to be reached to ensure that the objectives of financial inclusion and market integrity are not achieved to the detriment of financial stability.

中文翻译：

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金融领域的身份挑战：从模拟身份到数字化身份再到数字 KYC 公用事业

身份是金融的基础：防止欺诈和犯罪，履行了解客户的义务，并确保市场完整性。同时，身份识别和了解您的客户规则可能是获得金融服务的主要障碍。本文考虑了金融部门对身份识别的各种要求以及身份的演变性质。我们认为，技术提供了通过开发数字身份基础设施和相关实用程序来解决这一挑战的机会。此类实用程序的建立需要解决设计问题，例如注册方法、数据可用性和跨辖区承认。然而，与任何改革一样，