London-based digital identification startup Yoti is launching a new version of its ID app in partnership with Lloyds Bank
The push by the bank into the digital verification software space comes after it invested £10m into Yoti at the start of the year.
Yoti and Lloyds’ new app aims to be a “more private, secure and convenient” method of verifying the identity or age of an individual.
“Lloyds Bank Smart ID means UK consumers now have further access to secure, digital ways of proving their identity and it marks a significant milestone following our investment in Yoti,” said James Fulker, chief digital officer at Lloyds Banking Group.
Instagram uses Yoti’s facial age estimation process to determine if users are adults or a teen.
All of the firm’s ID apps including the one with Lloyds are interchangeable, with the earlier two attracting more than four million downloads in the UK to date.
Robin Tombs, CEO at Yoti said: “Digital IDs transform the way we share our personal data, allowing us to only share the information a business needs, rather than showing a full identity document.”
“Digital IDs can reduce identity theft, increase the security of our personal data, and create more trust between people and businesses.”
Yoti and the Post Office were the first digital ID providers to gain government approval.