The data platform will be called Verimi - a combination of the words “verify” and “me” - and is set to be launched in early 2018.
Verimi will encompass a single sign-on "master key" meant to simplify the process of logging into websites and utilize Internet processes more securely.
It's common nowadays to be able to sign up for online profiles using one's Google, Facebook or Twitter account, but the alliance hopes to change that.
For instance with popular photo website Pinterest, users have the option of signing in with their Google or Facebook accounts. With online publishing platform Medium, users can choose to sign in with either their Twitter, Google or Facebook account.
In Europe, there's long been criticism of the dominance of American data platforms on the Internet. But now German corporations are doing something about it with a common registration, identity and data platform in mind.
Allianz, Axel Springer, Daimler, Deutsche Bank, Postbank and Here launched the initiative while Lufthansa, Telekom and Bundesdruckerei just recently joined up.
The platform will be available to a broad range of users in the automotive, finance, IT, aviation, media, technology, telecommunications and insurance sectors.
For the alliance, the objective is clear: to quickly win over ever more companies from all sectors of the German and European economy.