SecureKey Technologies, a leading provider of federated identity and authentication solutions, is pleased to announce that National Bank of Canada, one of Canada's domestic systemically important banks has joined their network of leading Canadian organizations to develop a new digital identity and attribute sharing network built on blockchain technology.
The network will simplify the online verification process for National Bank clients in a privacy-enhanced, secure and safe way, enabling consumers to instantly verify their identity for services such as new bank accounts, driver's licenses or utilities.
National Bank is among Canada's largest financial institutions that have partnered with SecureKey to develop a digital identity and attribute sharing network. Upon launch, Canadian consumers will be able to opt-in to the new blockchain-based service using a mobile app, which leverages the trusted digital credentials that users have with the partner organization of their choice. This collaborative approach to digital identity will bring together the best capabilities of numerous parties in financial services, telecommunications, healthcare, government and more, to benefit all organizations, institutions, governments, and their citizens. The sharing network uses IBM's Blockchain service, which is built on top of the Linux Foundation's open source Hyperledger Fabric v1.0.
"Adding National Bank to our digital identity network is critical to the success of our ecosystem and brings us one step closer to ensuring consumers are able to prove who they say they are, in person, online and over the phone," said Greg Wolfond, President and CEO, SecureKey Technologies. "We are pleased to partner with National Bank and look forward to bringing privacy-enhanced digital solutions to its customers."
National Bank joins other Canadian financial institutions that have partnered with SecureKey, including BMO, CIBC, Desjardins, RBC, Scotiabank and TD. The Digital ID and Authentication Council of Canada (DIACC) and the Command Control and Interoperability Center for Advanced Data Analytics (CCICADA), a research center of excellence funded by the U.S. Department of Homeland Security Science & Technology Directorate, have also provided funding to bring the new approach to digital identity to market.
"We are pleased to partner with SecureKey Technologies to help ensure online identity verification is made safe, easy and secure for our customers," said Lionel Pimpin, Senior Vice-President, Digital Channels, Personal and Commercial Strategies. "SecureKey's digital identity network is innovative in the online verification process, and its blockchain technology will ensure people connect conveniently and privately to their trusted online services."