May 16, 2024, 5:56 p.m. | Joel R. McConvey

Biometric Update

The venture scaling arm of Australia’s biggest bank has launched a digital identity protection tool that will alert users to potential identity theft or data breaches. Truyu is a project led by x15ventures, which is owned by Commonwealth Bank. Currently piloting with early customers, the digital ID app is a response to Australia’s significant problem with identity fraud, which a report in Finextra says now impacts almost 200,000 Australians a year.

A post on LinkedIn says users who …

alert alerts app arm australia australian bank biometrics biometrics news breaches customers data data breaches data protection digital digital id digital-identity financial services fraud fraud prevention gbg identity identity protection identity theft led project protection scaling theft tool venture

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