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Solving the trust dilemma

Digital innovations are happening at lightning speed. The sheer number of things we can do online—simply by sharing some of our data—is truly astounding.  And it’s growing daily.

But with convenience comes concern. Consumers are beginning to worry about how much data they’re sharing. What companies are doing with it. And who should really own that information. With breaches at historic highs and increasing since the COVID-19 pandemic, it’s no wonder consumer trust is beginning to wane.

That’s why Finicity has joined with 20+ governments, nonprofits, and businesses across finance, health care, enterprise software and other industries to create the Trust over IP (ToIP) Foundation and advance digital trust standards. 

This cross-industry coalition has partnered with the Linux Foundation to create global industry standards for both ecosystem governance and technical standards for the exchange of verifiable credentials between any two parties on the Internet. The adoption of TOIP will dramatically enhance privacy for consumers and businesses— while infusing data with trusted markers that prove it comes from a credible source. It will also allow consumers to connect, interact, and innovate at a speed and scale not possible today. 

The mission of the ToIP aligns with our own guiding core principles of control, access, transparency, traceability, and security, which is why we felt compelled to become a founding member.


A roadmap for empowerment and innovation

Data breaches are at an all-time high. Consumer confidence is at an all-time low. And losses due to identity theft are growing every day. As hard as this situation is, we believe this triumvirate of pain will drive the adoption of a new data ecosystem.

And that’s exactly what the ToIP Foundation has mapped out. With a global standard for trustworthy exchange of data, plus collaboration between all stakeholders—from industry leaders to policy makers to consumer groups—we can create an ecosystem that significantly advances digital trust and keeps innovation on track.  

It starts by giving consumers control of their data. This will allow them to decide who gets what information—rather than sharing more than is necessary and introducing unnecessary risk. That, in turn, will allow more space for companies to create a wide variety of compelling solutions that further empowers consumers and that they can embrace with confidence.

The ToIP Foundation will use digital identity models that leverage interoperable digital wallets and credentials, along with the new W3C Verifiable Credentials standard, to address these challenges and enable consumers, businesses, and governments to better manage risk, improve digital trust and protect all forms of identity online. 

Think of the possibilities. Loans that currently take several days to underwrite could be done in minutes—leading to faster closings and lower costs. Other types of transactions can happen faster, too. Imagine proving your age without sharing your drivers license or proving your nationality without sharing your passport. TOIP will dramatically improve data privacy by reducing or eliminating the need to share data. Imagine being able to answer yes to a question “are you over 18?” without ever sharing your birthdate.


ToIP Foundation members

The ToIP Foundation is being developed with global, pan-industry support from leading organizations with sector-specific expertise.  Please visit to view an up-to-date list of both steering and contributing members.   

As we work together to solve the trust dilemma, we’ll see a rapid acceleration of innovations that will change the way we do business, share consumer information, connect with others, and engage in entertainment. All with the utmost confidence in the security of our data.