Verified.Me is available to customers of TD, CIBC, Desjardins, RBC and Scotiabank, with BMO and National Bank joining later this year. Account holders can use the app to verify their online identities at other service providers like Sun Life and Equifax. (Financial Post)
Talking point: SecureKey has received investment from all of the banks participating in the Verified.Me launch, as well as telecoms like Rogers and Telus, so Verified.Me has a good chance of becoming an interconnected digital identity solution for a lot of things consumers regularly need to do. Greg Wolfond, CEO of SecureKey, expects Verified.Me to let customers access health records and open bank accounts by the end of this year. Neil Parmenter, CEO of the Canadian Bankers Association, has said in the past that the country must move away from paper-based processes and explore digital authentication as the government considers open banking, which would allow consumers to share financial data with third parties.