The Reserve Bank of Australia (RBA) has confirmed that the first version for a new federated identity credential known as “TrustID” has been completed. Used in conjunction with online card payments as well as other online transactions, the use of digital identity has the potential to seriously reduce payments fraud worth more than $470 million a year.

https://www.itnews.com.au/news/banks-prepare-to-issue-mygov-compatible-digital-identities-532768