Abstract
With the growth of technology, the number of individuals and organizations who are operating it has increased. Millions of people share their data and information through technology. We create an identity for ourselves through this information, which we call our Digital Identity. With the increasing amount of information out there, people gradually lose control over their information. It has become a challenge faced not only by individuals but also by organizations, companies, and even the government. This challenge was faced in many areas but the very peculiar area where it was very sensible was the financial sectors, particularly in this digital era. So, it is significant that these identities are managed and well protected. As a result, Digital Identity Management as a part of Fintech is adopted by all financial service providers. It acts as a mechanism that regulates digital identities. Digital Identity Management develops the base to assure the users that the structure of the internet is well built to fulfill the requirements for security and privacy of the users. Although Digital Identity Management makes a great effort to achieve its objectives, it faces several challenges such as privacy, data security, and trust. The major motive of this paper is to analyze such issues faced by digital identity management and to examine the solutions which will be suitable to overcome the issues.
Key Words: Digital Identity Management, Digital Identity, Fintech, Financial service Providers
References
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