From friction to flow: how digital ID for your business will redefine growth

As digital identity reshapes the future of financial services, Business Digital IDs are emerging as a powerful enabler- it’s the key to reducing friction, boosting trust, and closing the SME funding gap.

If you're a small business owner, you're likely all too familiar with the mountain of paperwork that comes with the territory. From opening a bank account to applying for a loan or even just setting up a new supplier contract, you're constantly asked to prove who you are and what your business does. It's a relentless cycle of form-filling, document-scanning and waiting.

This isn't just a minor inconvenience; it's a major roadblock to progress. This administrative friction consumes your most valuable resource of time and creates significant barriers to accessing the funding you need to grow. In fact, this problem is a key contributor to the UK's staggering £22 billion SME funding gap.

The Solution: A "Digital Passport" for Your Business

Imagine a world where you could prove your business's identity with a single click. That's the promise of a Business Digital ID. Think of it as a secure "digital passport" for your company. It's a reusable and verifiable credential that allows your business to instantly prove who it is and what it's permitted to do in the digital world.

This isn't some far-off futuristic concept; it's a foundational shift in how businesses will operate. Backed by government initiatives like the UK Digital Identity and Attributes Trust Framework (DIATF), this new approach is set to replace weeks of paperwork with just seconds of secure data exchange.

The Benefits: What This Means for You So, what does this mean for you in practical terms?

Building the Future, Together

The vision for a seamless and secure digital business environment is rapidly becoming a reality. By embracing the power of a Business Digital ID, we can create a more efficient, innovative, and prosperous economy for everyone. It's time to leave the paperwork behind and unlock the true potential of your business.

Author

Digital Identity programme activities

Digital identities will provide a gateway for citizens and SMEs into the digital economy. techUK members demonstrate the benefits of digital identity to emerging markets, raise their profile as thought leaders, influence policy outcomes, and strengthen their relationships with potential clients and decision-makers. Visit the programme page here.

Upcoming events

Latest news and insights

Learn more and get involved

Get our digital identity insights straight to your inbox

Sign-up to get the latest updates and opportunities from our Digital Identity, Technology and Innovation, Cloud, and Data Analytics and AI programmes.

Meet the team

Sue Daley OBE

Director, Technology and Innovation

Laura Foster

Associate Director - Technology and Innovation, techUK

Elis Thomas

Programme Manager, Tech and Innovation, techUK