A key component of Barclays’ new business line is to take the lead on the roughly $1.6 trillion-asset bank’s digital identity initiatives. The U.K. government launched a digital identity project last year called Gov.UK Verify where British citizens can log in and access government services and websites using any of eight approved digital identity providers. Barclays is one of the eight, and it is the only bank.

“As people become digitally engaged, they want to be able to validate who they are online,” Simon said. “As a bank we have a natural role to play in that.”

Source: Why Barclays Sees Banking’s Future as an Information Business | American Banker