Digital identity verification comes to Canadian financial institutions

A blockchain-based identity verification platform is now available to clients at a number of Canadian financial institutions.

On Wednesday, SecureKey Technologies Inc. announced that its Verified.Me app is now available to customers of Canadian Imperial Bank of Commerce, Desjardins, Royal Bank of Canada, Bank of Nova Scotia and Toronto-Dominion Bank.

According to a release, the app, available for Android and iOS devices, uses blockchain technology to allow users to verify their identities with participating financial institutions “quickly and securely.”

“Digital identity is one of the most enduring challenges of our time, and having the opportunity to showcase how a network of cross-industry organizations can come together to build a solution by and for consumers is an honour,” Greg Wolfond, founder and CEO of SecureKey Technologies, said in a statement.

Bank of Montreal and National Bank of Canada will join the Verified.Me network soon, according to the release. Sun Life Financial Inc. has signed on as an early adopter.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.