Market Insights

Verified.Me Digital Identity Network Launches

May 1, 2019

SecureKey Technologies Inc. today announced the formal launch of the Verified.Me digital identity network, with the support of leading Canadian financial institutions including CIBC, Desjardins, RBC, Scotiabank, TD and Sun Life Financial. Built using blockchain technology, the Verified.Me platform allows consumers to securely share personal identity attributes with participating institutions, enabling painless and secure digital account opening for consumers and businesses alike.

“Today marks a huge milestone for SecureKey and the network participants that have been working diligently to bring Verified.Me to life,” said SecureKey Technologies Chief Identity Officer and KNOW 2019 Speaker Andre Boysen. “We’re so excited to officially go live and to further our mission of making secure digital identity a reality for Canadians, while at the same time creating a simplified user experience for our network participants’ customers.”

To get started, users download the Verified.Me mobile app available for both iOS and Android smartphones. Authentication is performed by selecting a bank from the list of participating institutions and logging in with existing online banking credentials.

Once authenticated, users can then use the app to authorize the sharing of bank-verified identity attributes with other institutions that have joined the Verified.Me network. For example, a TD Bank account holder can pass along the details required to apply for a Sun Life Insurance policy without manually entering sensitive identity information into a web form.

“By participating in SecureKey’s new Verified.Me service, we are putting technology to work for our customers to help them access the services they need in a digital world,” said Rizwan Khalfan, EVP and Chief Digital and Payments Officer, TD. “We are proud to be one of the first to offer our customers a simpler, more secure way to share their information in order to transact online.”

Originally announced in 2017, Verified.Me was developed with the support of a diverse group of stakeholders including the Digital ID & Authentication Council of Canada (DIACC), The U.S. Department of Homeland Security Science & Technology Directorate,  and seven of Canada’s major financial institutions. Verified.Me was built utilizing the IBM Blockchain Platform and Linux Foundation’s open source Hyperledger Fabric v1.2, and will be interoperable with other Hyperledger Indy projects.

For more details on the launch of the Verified.Me platform, stay tuned to next week’s episode of the State of Identity Podcast for an interview with SecureKey Technologies Chief Identity Officer Andre Boysen.