Blockchain Adopted by Canadian Banks to Verify Client Identities
- SecureKey’s Verified.Me available for five lenders’ customers
- RBC calls the digital ID network a ‘significant development’
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Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services.
SecureKey Technologies Inc.’s Verified.Me digital identity system is now available for customers of five Canadian banks through a mobile app, the Toronto-based firm said Wednesday in a statement. The system works at Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Desjardins Group, and is coming soon to Bank of Montreal and National Bank of Canada. Sun Life Financial Inc. also signed on to be the first North American insurer on the service.