The Bill has many of the same aims as the Data Protection and Digital Information Bill, which failed to become law under the previous UK Government.
Establishing trust
Companies that provide digital identity tools must become certified against the UK Government's trust framework, which will set stringent rules on data privacy, security, and inclusion. Practices like user profiling for third-party marketing and large datasets that could risk revealing sensitive data will be prohibited.
A DVS register will be set up where certified providers will be listed, and digital services businesses can use a trust mark to showcase their compliance with the framework, increasing public confidence and acceptance of DVS services.
The Bill also empowers consumers by granting them greater control over their data. They will have the right to access and share their data held by companies with authorised third parties, whilst benefiting from strengthened data protection measures and consumer privacy rights.
Practical applications
Agents and landlords will be able to use DVS to complete digital Right to Rent checks using service providers who are registered and approved by the UK Government. This shift towards digital identity verification is expected to make processes faster, more efficient, and safer.
Digital identities will remain voluntary, and the option to use physical documents will still be available. The Bill aims to empower individuals to make informed decisions about trusting digital identity services.
MyIdentity
Propertymark worked with Etive Technologies and other industry stakeholders to develop a digital identity trust scheme designed specifically for home buying and selling, which is one of the initiatives that will benefit from the governance provided by the Data Bill.
MyIdentity.org.uk allows the digital identity of a buyer or seller to be verified once and then shared by them with estate agents, conveyancers, mortgage lenders, and any other party involved in the sales transaction, reducing customer friction and duplication of effort.
Etive is now testing MyIdentity with the Financial Conduct Authority to ensure it is fully compliant and has effective consumer safeguards.
Continuing engagement on behalf of members
The Bill is in its early stages and will be subject to scrutiny and debate in Parliament. The specific details of how the various provisions will be implemented will be set out in secondary legislation once the Bill has gained Royal Assent.
Stakeholder engagement and consultation will be crucial to ensure the Bill achieves its intended objectives and is implemented successfully. Propertymark is a member of the Digital Property Market Steering Group (DPMSG) which is a coalition of government and industry regulators and membership groups representing all areas of the property sector, committed to helping the property market work better for all by accelerating the adoption of digital technology.
Propertymark members are invited to join a virtual workshop on Monday 25 November 2024 from 11:30 am to 12:30 am to discuss the benefits and opportunities of data sharing during property transactions. To register for the session, email [email protected].
