I can see concerns about it becoming a widely used form of SSO, potentially even mandated, and that destroying privacy. However, banks and credit are cases where you already do not have that privacy, so they don’t seem like a very compelling example to point to.
This is beneficial for public services and companies that need to identify you. Having a single ID for a person is a huge improvement. As an example, when we got married, my wife was simultaneously both her maiden name and my surname. There is absolutely no link between passport, birth certificate, driving license, etc.
You have to go around to all these different organisations and have them update the details. They all have different requirements for updating the name.
Having a single consistent mechanism for referring to a person in systems seems hugely beneficial for both the organisation and the person.