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In future, banks won’t need to see your licence to give you a loan

Tom Burton
Tom BurtonGovernment editor

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Banks, credit card operators and Australia Post will likely be the first businesses to offer identity and verification services after the government fast-tracked their participation in its digital identity verification scheme, to secure support for it in the Senate.

Businesses won assurances on Monday that they will be able to participate in the new digital ID scheme within two years. Ahead of Senate deliberation over the bill on Wednesday, Finance Minister Katy Gallagher also agreed to amendments to secure the support of the Greens, independents – and possibly the Coalition.

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Tom Burton has held senior editorial and publishing roles with The Mandarin, The Sydney Morning Herald and as Canberra bureau chief for The Australian Financial Review. He has won three Walkley awards. Connect with Tom on Twitter. Email Tom at tom.burton@afr.com

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    Original URL: https://www.afr.com/politics/federal/banks-auspost-win-early-entry-to-digital-id-scheme-in-senate-deal-20240324-p5fet9