The Digital Verification Orchestrator (DVO) Initiative would connect identity providers to financial services that require identity checks. Consumers would verify their identity once with a trusted provider, while financial companies could reuse the digital ID to confirm it using secure data transmission through the orchestrator. The verification orchestrator would also flag suspected fraud on the network to other firms, restricting fraudsters’ entry points into the financial system. The service would be voluntary for users.
Source: www.biometricupdate.com