National Bank and SecureKey join forces to build a digital identity ecosystem
October 12, 2017

ICT Infrastructure, especially connectivity, plays an increasingly critical role in driving sustainable growth and prosperity.

The Global Connectivity Index (GCI) 2017[1] ranks nations’ efforts as we march towards our futures as players in the digital economy. Among their measurements, they consider ICT infrastructure investment, user experience, adoption, and future potential. For Canada, the future is bright. This year, we were named to the Frontrunner category – a testament to the brilliant minds and work that are going into next-generation technology projects throughout our country. Today, we are happy to announce that National Bank has committed to Canada’s digital future alongside SecureKey and its partners, and will be a part of our digital identity ecosystem that will strengthen our global technology leadership position.

Healthy digital transformation is a cornerstone of tomorrow’s digital economy. Healthy transformation is only made possible when companies come together in collaboration to solve an issue for a social good. We at SecureKey are immensely proud of the team that has assembled for the sake of more secure digital identities, for all Canadians. This solution, which will develop a more secure, more private and more efficient digital society, would simply not be possible without participation from organizations like National Bank.

Thanks to National Bank’s commitment, more Canadian consumers will be able to opt-in to our blockchain-based service using a mobile app, which leverages the trusted digital credentials they already have with their bank, in conjunction with verified information from their telco, their government or other participating organizations they already know and trust. The digital identity ecosystem will add desperately needed layers of security and privacy, aimed at reducing identity theft and streamlining the user experience, while keeping the user at the center and always in control.

This collaborative approach to digital identity will benefit all National Bank customers, citizens, organizations, institutions and governments of the immediate and foreseeable future. Furthermore, this piece of cross-industry collaboration will take Canada to the very pinnacle of the frontrunner pack.

Today, 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. IBM Blockchain and the Linux Foundation, via Hyperledger Fabric, have provided us with the necessary tools build the digital identity tool of the future.

We are pleased to partner with National Bank and look forward to bringing privacy-enhanced digital solutions to its customers and all Canadians.