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The Commonwealth Bank of Australia (CBA) has begun trialling a myGov verification program that will allow customers to verify their identities with their myGov accounts rather than handing over identification documents.
The new program, known as trust exchange or TEx, was first announced as a proof of concept by National Disability Insurance Scheme (NDIS) Minister Bill Shorten in August, using $11.4 million in funding.
Now, the CBA has joined forces with Services Australia to trial TEx for the first time.
The trial program will work by verifying a user’s identity using their Medicare card, which is located in the myGov app.
Participating CBA customers will be able to scan a QR code at a CBA Canberra branch, which will prompt them to share data from a “test Medicare card” with the bank. This will share only necessary information with the CBA such as name and valid Medicare enrollment, whilst not sharing information like Medicare number.
“It may mean in future you wouldn’t need to hand over copies of your ID documents for banks to store on their own systems, reducing the data they need to collect,” Minister Shorten said.
“Banks would be able to get confirmation of a person’s identity, verified by government, within seconds.”
Following the trial, Minister Shorten said the government will then “determine the next phase of this work”.
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