Welcome to this presentation on Identity Federation, a groundbreaking approach to industry wide digital identity management. We will explore how this innovative concept can streamline user experiences, enhance security, and improve productivity. and drive significant cost savings across various sectors, including IOT. So first of all, what is the, why there is a need for identity federation? First one is a password fatigue. Users manage an average of hundred passwords leading to an unsafe practices, including reusing the same password, less secure passwords. And the next one is security vulnerability. 61 percent of data breaches involve credentials, which 85 percent involving human elements. Next is a poor user experience. 55 percent of consumers abandon their devices. Online purchases due to password issues and last there is an inefficient in Onboarding repeated identity verification leads to increased costs for service providers So this is where I am proposing the identity federation model where you will utilize a single sign on with a seamless access across multiple providers So this includes four steps. The first one is establishing the single sign on and then standardizing the identity attributes, for example, industry specific verified information. and then consent management where user gives control over data sharing and consent to usage of that. Next will be industry specific trust framework, where we define rules and standards for participation. So looking at the technical implementation, we need to first extend OAuth 2. 0 scopes and define industry specific scopes for fine grained access control. Then we need to federate the identity providers, institutions. Act as both idp and sp for cross provider authentication Next is an attribute exchange protocol. So In this we will have a way to securely share user attributes between federated members And last but not least we need to have a federation registry A centralized place where the registration for participating institutions And metadata are maintained. So where can we see these applications? First one is banking sector applications So implementing this concept of identity federation, it simplifies the account opening process. It reduced onboarding time by 80 percent, saving up to 1 billion annually for large banks, and then a seamless service integration. increase of cross selling opportunities by 30 percent and improve the customer retention by 25 percent. This also enhances the fraud detection. This reduces the identity fraud by up to 90 percent saving the industry an estimated 7 billion annually. And then we can also look into the same thing where we can apply this for a healthcare sector applications. So we can For example, streamlining patient access records, interoperable health IT systems could save the U. S. healthcare system by 30 billion a year. And then we can also look into, in the healthcare sector, we can improve the care coordination. so especially when, a patient visits multiple different facilities or healthcare providers, They can basically, coordinate better through the shared health information that can reduce the hospital readmissions by 20 percent by reusing existing intakes and verified user information. This also reduces the administrative overhead. Which can save up to 30 minutes per patient encounter by eliminating redundant data entry identity verification process Because a user is already presented and they have their own identify identity federated Where data gets shared? across all the healthcare sector And then we can also do the same thing in education sector, where portable of academic credentials, especially, transcript verification time can go by 90 percent saving institutions, an average of 150%. Dollars per student application Which they actually have to pay to get the transcripts verified and then there is a simplified enrollment process basically because we are federating the user it increases the adult learner enrollment by 25 percent by removing barriers to entry And simplifying credit transfer process And then come the secure credential sharing, this reduce hiring times by 40 percent and improve job matching accuracy by 30 percent through a secure sharing of transcripts and certifications with potential employers. So looking at the economic impact of Identity Federation, this could increase the GDP growth, by 2013 countries that implement this digital ID systems by around three to 13%. As I was mentioning earlier, healthcare savings with an annual savings for interoperable health IT systems can save up to 30 billion. So it reduces the onboarding, potential risk reduction in onboarding costs for financial institutions by approximately 90 percent of their costs that were involved in onboarding a new customer. Then come the financial inclusion, because number of unbanked financial services can use up to 1. 7 billion dollars. So what are the challenges and considerations? So the regulatory compliance is one of the biggest thing. So implementations must comply with industry specific regulations and data protection laws. the GDPR finds total 1. 3 billion euros in 2021, a sevenfold increase from the previous year. And then the security itself, 45 percent of the organizations reported an increase in cyber attacks in the past 12 months. Robot security measures, including multi factor authentication and advanced threat detections are very essential. Then comes privacy. 43 percent of the respondents were very or extremely concerned about the security and privacy issues. So user centric privacy controls are crucial for building trust and encouraging the adoption. So this is where a standardized, industry specific IOT standards needs to be introduced. and these challenges can slowly be addressed with working with respective agencies. And so what is the, so if you look at the addressing, the primary implementation challenge, The first one is a regulatory Alignment, so we have to develop frameworks that inherently align with the key regulations that This could be a country specific or a global regulation That various countries can come because IOTs Get access across the internet so this would be very advantage if the regulatory alignment happens at a global level. then we have to look into enhanced security measures. We have to implement advanced protocol like biometric authentication or various other type of secure, authentication measures like two factor authentications. Then we have to think in the terms of privacy by design. So incorporating privacy enhancing technologies and granular consent mechanisms should be allowed. For example, if you want to allow permissions only at very certain specific conditions, so that is where the granularity comes into picture. And then the industry collaborations is very important because we are looking at an industry specific alignment. So fostering past partnerships to develop these interoperable standards involving various parties in the same industry in defining those interoperable standards is very crucial. Then education and awareness. is also equally important because, we need to launch new initiatives to educate organizations and users, to, try and adapt these industry specific standards so that they become interoperable and they get access to the larger, Market across various systems. So in conclusion, the future of digital identity is definitely very good. Identity Federation represents a transformative approach to digital identity management, poised to revolutionize how organizations and consumers interact across various sectors by addressing issues such as Critical challenges in identity management and leveraging existing standards. It has the potential to create more efficient, secure, and user friendly digital ecosystems. As industries continue to digitalize and integrate, Identity Federation standards ready to unlock substantial economic value, improve user experience, and pave the way for more integrated and user centric digital services across entire sectors. Thank you.