How personal data is obtained and shared online is an extremely sensitive issue, with data privacy an absolute imperative for businesses and consumers alike. Now, an initiative that currently includes Allianz, Axel Springer, Daimler and Deutsche Bank with Postbank as well as the technology think-tank CORE and HERE, will be working closely to develop a platform that improves the security of personal data online.

The companies involved will cooperate to create a common cross-industry registration, identity and data platform that will make online registration simpler and more secure for clients. So what does this mean for your data?

Keep it secure

Essentially, this pan-industry platform will allow customers to determine whether and how their personal data can be used by third parties. The core of this is a 'master key' -- by using this master key, customers from any industry can choose to register and identify themselves online.

The benefits of such a platform cannot be understated. Take digital publishers, for example - where user-friendly online registration models are absolutely vital to the success of their products. Security, too, is a defining factor in the platform's development.

This new, standard access procedure for online activities aims to guarantee the highest standards in data security and data protection, with the platform complying with EU data protection reforms, as well as adhering to the provisions of the eIDAS regulation, which governs trust services for electronic identification (eID).

Such security measures are of vital importance across industries. Take insurers like Allianz, for example. These rely upon sensitive client data, and there is a desperate need to handle this data in a trustworthy manner. This initiative allows such companies to apply the highest level of security standards to the digital financial services that are offered to clients.

For banks, too, the platform represents huge potential. Postbank, for instance, has joined the initiative to ensure that its 14 million clients can place their trust in the secure treatment of their data.

Flexible benefits

The platform's adaptability is also set to be a key asset, and will see its use extend beyond businesses.

Thanks to the platform's openness and compatibility, authorities under the German government and German federal states will be able to use it. Citizen portals, for example, could be supported by the platform, while additional functions, like digital access to public authorities (e-government), may also follow.

It's also possible to develop payment and financial services on the platform, and indeed, this is just the beginning.

Those taking part in the initiative will use a common infrastructure to allow networking across businesses, while more partners are being sought out across a number of different sectors, from aviation companies to retailers, e-commerce agents and telecommunications companies. Several companies have already shown an interest in the platform, with preliminary discussions having taken place.

For both companies and clients, the ability to decide how personal data is used is absolutely vital. With a combination of technological expertise and data protection and security, this initiative will not only help develop a secure digital framework, but also drive the digital economy’s growth in Europe.

For HERE, it's an important extension to our work. New digital products, services and solutions are rapidly changing the way we live, move and interact with each other, and it's vital that people and organisations can access them in a user-friendly and secure way. As we enter the age of autonomy, a digital master key will be especially useful for people seeking easy access to different modes of transportation. We look forward to enabling the benefits of this initiative for participants through our growing Open Location Platform.

Further details of the collaboration and a launch date for the platform will be announced in the coming weeks, before plans are submitted to the competition authorities for regulatory approval.