Taiwan regulator says banks, fintechs should push digital ID verification envelope

Taiwan’s financial industry is advocating for digital identity verification, as the country’s Financial Supervisory Committee (FSC) pushes initiatives designed to encourage digital ID adoption and align biometric verification and authentication systems with new guidelines issued last fall.

The FSC’s digital identity authentication and authorization-themed supervision sandbox and business trial launched in 2022. According to Regulation Asia, the organization last week reported receiving 25 counseling requests from 17 financial institutions as a result of the initiative, plus ten applications from …

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