BBVA, for example, use the same model that Consult Hyperion has been using with its clients to help them think through their strategies. The “Three Domain Identity” (3DID) model maps “real”, virtual and digital identities to identification, authentication and authorisation processes. BBVA describe these as follows:
Identification: definition of the attributes that confirm, beyond any shadow of a doubt, that the user is who they say they are and not someone different pretending to be them.
Authentication: verification through credentials that the user is the customer they say they are (username and password, OTP, digital certificates and others).
Authorization: the financial service providers (TPP) with a license to operate must be given authorization by the customers before they can access their accounts. They need to have proof of consent, which can be obtained through access tokens. "