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How can a digital identity expand financial inclusion?
The absence of a legally-recognised form of identification is a barrier for many people attempting to access basic financial services in Papua New Guinea. Opening a bank account, obtaining credit, and accepting payments are difficult to do without an ability to identify who you are and gain the trust of a financial institution.
The problem is more pronounced among minority ethnic groups, women, people living in the rural areas, people living with disabilities, and the urban disadvantaged, who find it difficult and expensive to obtain a legally-acceptable form of identification.
With a YuTru digital ID we overcome a significant barrier to financial inclusion because a YuTru digital ID doesn’t cost the end user anything and it can be obtained online without a need to travel. A YuTru digital ID provides the basis of trust by a financial institution and is a “single source of truth” about your identity.
Let’s go through an example of how easy it is to obtain a YuTru ID, and use it to access goods and services.
