Insights from Interac Corp.|Whitepapers

Digital Identity in Employment

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2 minute read
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Improving security, efficiency, and convenience, while reducing risk and fraud

Purchasing a home, from mortgage applications to title transfers, are inefficient, unsecure, dated, and susceptible to risk and fraud.

Introduction

The efficient allocation of human resources is reliant on an employer accurately assessing a set of skillsbased claims by a potential employee. A growing challenge, however, is being able to understand and verify these skills in a more comprehensive and efficient manner. Moreover, standard methods of pursuing candidates, determining their organizational fit, as well as conducting the pre-hire verification process, can be painfully slow and inefficient. The ability to submit verifiable credentials would enable employers to instantly confirm a candidate’s accreditation.

Verifiable credentials, linked to unique digital IDs, can modernize human resources, particularly the relationship between employees, employers, accredited institutions, and governments. A digital ID becomes the unique identifier linking an individual to their credentials and accreditations.

Digital Identity in Employment

Employers can easily validate a candidate’s credentials, issued by accredited institutions, while governments can request employment records for accessing public services and other needs such as taxation. Most importantly, individuals will be able to grant or revoke access to their validated resumes, sensitive banking information, and other immutable personal data, while keeping it private and secure.

In addition to the efficiency afforded by automating recruitment, digital IDs will improve security oversight, reduce the risk of fraud, validate credentials, and reduce the resources required to find and hire talent in the modern economy.

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