ProofOfID: Building trust infrastructure for Open Banking and the AI economy

Open Banking Expo UK & EU 2026

ProofOfID has been named a finalist for Best Open Banking Infrastructure – Platform Providers at the Open Banking Expo Awards 2026, marking an important milestone as it continues to advance trust infrastructure designed for the evolving needs of Open Banking, financial services and the AI economy.

The recognition comes as financial institutions face a rapidly changing digital environment in which identity fraud, AI-driven threats, data privacy and customer consent are becoming increasingly interconnected.

For ProofOfID, the future of Open Banking is not only about enabling data to move between financial institutions and authorized third parties. It is also about establishing who can be trusted, what information can be shared, whether a consent record exists, and how that trust can be maintained throughout the relationship.

Moving beyond one-time identity verification

Traditional digital identity processes have largely focused on a single point in the customer journey: onboarding.

A customer provides identity information, the organization performs verification known as KYC, and, once verified, the relationship moves forward.

But digital risk does not end at onboarding.

Credentials can be compromised. Personal information can change. Accounts can be targeted for takeover. Fraudsters can use increasingly sophisticated technologies to impersonate legitimate customers, while generative AI and deepfake technologies introduce new challenges for organizations trying to distinguish legitimate interactions from fraudulent ones.

ProofOfID is approaching this challenge by extending digital identity beyond one-time verification toward a model of continuous trust.

A practical example: Trusted customer verification in Open Banking

Consider a customer who contacts their bank or financial institution for assistance with an account or an Open Banking service. Before accessing or sharing sensitive information, the institution needs confidence that it is interacting with the legitimate customer and that the customer has authorized the request.

Traditional phone verification can require multiple security questions and several minutes before an agent can proceed. As AI-enabled synthetic identity fraud and impersonation become more sophisticated, reliance on knowledge-based authentication alone can become less effective, while also increasing operational friction and cost.

With ProofOfID, identity verification can be reduced to approximately 20 seconds. The customer securely confirms their identity and provides recorded consent to share the required verified information, enabling the institution to authenticate the customer and proceed with the authorized interaction.

This creates a frictionless, consent-driven trust layer that can help reduce authentication time while protecting interactions against AI-enabled impersonation and other forms of identity fraud.

It is one example of how ProofOfID can complement Open Banking infrastructure by bringing together verified identity, consumer consent, secure data sharing and continuous trust.

Trust infrastructure for Open Banking

Open Banking has demonstrated the value of giving consumers greater control over their financial information and enabling data to move securely between authorized participants.

As the ecosystem expands, however, the underlying trust model becomes increasingly important.

Financial institutions need confidence that the person interacting with their services is legitimate. Customers need greater transparency into who is requesting their information and how it will be used. Organizations also need mechanisms that can help identify suspicious activity as digital interactions become increasingly automated.

ProofOfID’s approach places four principles at the centre of this infrastructure: Trust. Privacy. Consent. Control.

Rather than simply facilitating another exchange of personal information, ProofOfID is designed to enable individuals to participate directly in the sharing of their identity and personal data.

The objective is to help create an environment in which organizations can request the information they need while individuals maintain greater visibility and control over what they share.

Preparing digital identity for the AI economy

Artificial intelligence is creating another important dimension for Open Banking and financial services.

AI is no longer limited to analysing information behind the scenes. Increasingly capable AI systems and agents can interact with digital services, assist customers and potentially initiate actions on behalf of individuals and organizations.

This raises a new generation of trust questions.

• Who initiated an interaction?
• Was it authorized by the individual?
• Can the identity behind the transaction still be trusted?
• Could AI-generated content, impersonation or fraudulent behaviour be involved?

ProofOfID believes the next generation of digital identity infrastructure will need to help organizations address these questions while maintaining a frictionless customer experience.

The company is therefore advancing its platform with capabilities designed to identify AI-driven and fraudulent behaviours while strengthening the relationship between identity, authorization, consent and data sharing.

The convergence of Open Banking, identity and cybersecurity

Historically, identity verification, cybersecurity, fraud prevention, privacy and data sharing have often been addressed as separate challenges.

The evolution of Open Banking and AI is increasingly bringing these areas together.

When financial data moves between organizations, identity matters.

When an individual authorizes access to sensitive information, consent matters.

When an account or identity may have been compromised, continuous verification matters.

And when AI can participate in digital interactions, the ability to establish trust between people, organizations and intelligent systems becomes increasingly important.

This convergence is helping transform digital identity from an onboarding function into a broader component of financial infrastructure.

Recognition at the Open Banking Expo Awards 2026

Being selected as a finalist for Best Open Banking Infrastructure: Platform Provider recognizes ProofOfID’s approach to this emerging challenge and its work to continuously advance the trust infrastructure that connects digital identity, secure data sharing, consent, privacy, and continuous trust.

The recognition also comes as ProofOfID prepares to participate in Open Banking Expo UK & Europe 2026 in London on 13–14 October, where the company will be featured in the Barclays Innovation Zone.

The ProofOfID team will use the event to engage with other industry participants about how digital identity and trust infrastructure can evolve alongside Open Banking and AI.

Building the Trust Layer for the Future of Financial Services

Open Banking has created an infrastructure for connectivity.

AI is creating an infrastructure for intelligence and automation.

ProofOfID has developed a trust infrastructure layer designed to sit between them. As these ecosystems evolve, that layer helps establish identity, enable secure personal data sharing, support informed consent, and give organizations greater confidence that digital interactions remain legitimate over time.

The objective is clear: securely verify the human behind a digital interaction while capturing their consent to share identity and personal data.

ProofOfID will be at Open Banking Expo UK & Europe 2026, 13–14 October in London. Visit the ProofOfID team in the Barclays Innovation Zone to see how this approach can strengthen identity verification, consent and trust across digital financial services.

For more information, visit proofofid.io