SecureKey: Frictionless Digital Identity Simplified

Greg Wolfond, CEO, SecureKeyGreg Wolfond, CEO
Historically, customers would visit a bank in person, which made it easier for banks to verify their identity. In the digital era, although banks have moved to some online verification processes, the majority of transactions that require identity verification are still reliant on in-person exchange of information. There are drawbacks to this: the digital mechanisms are liable to cyber threats, like hacking, while the in-person exchanges have their own integrity challenges, and, they are simply not feasible for today’s busy consumer. The end result of this piecemeal approach is a broken modern identity system. Transforming the way customers and enterprises approach identity verification in the digital world is SecureKey Technologies, a Toronto-based firm that devises a solution to make digital authentication and management easy for businesses and their customers. “Our primary goal is to build trusted identity networks that not only delivers fast, private and entirely secure consumer access to online services, but also empowers them to choose who, when and why organizations see their personal digital information,” says Greg Wolfond, CEO at SecureKey.

SecureKey brings to the table a number of products that make identity verification easier. The first is SecureKey Concierge™, which simplifies consumers’ sign-on processes by using their trusted banking credentials to login to over 80 Government of Canada online services. This platform grants consumers access to various online services via a single, authorized digital credential. For instance, if users want to check the status of their taxes, see their unemployment benefits or license information on Canadian government websites, they can access all of the services through their trusted bank login data, instead of having to create multiple IDs and passwords for each unique website.

The second is a next-generation, privacy-enhancing digital identity ecosystem—Verified.Me—which is being developed in collaboration with innovators, like IBM, Intel and the Linux Foundation, alongside Canada’s leading financial institutions, telcos, credit unions, healthcare providers and government agencies.

Through our solution, customers can instantly authenticate their identity with their existing digital credentials

With this new platform, consumers are no longer required to show up in person with valid IDs or provide any confidential documents. SecureKey uses verified attributes from trusted providers, such as banks, telecom network operators, and governments, to verify the consumers’ identity with online services that require identity verification.

To this end, SecureKey employs cutting-edge technologies like blockchain—facilitated through IBM Blockchain and the Linux Foundation’s Hyperledger Fabric 1.0 to be precise— to enable customers to share only the information needed, securely and under explicit consent. More importantly, the blockchain technology enables exchange of customer data through a triple-blinded privacy policy, which ensures that none of the parties have full visibility of the customer journey. On the receiving side, for the organizations, the digital identity ecosystem will be seamless and easy to connect using simple Network Adapters and RESTful APIs, while lowering the chance of fraud and reducing friction in the process.

At the heart of SecureKey’s robust identity management services is its multifaceted team that brings decades of experience in fintech, cybersecurity, mobile technology, and IT operations. It is this deep-seated understanding in various fields that empowers SecureKey’s team to make its solutions easy-to-use for citizens while keeping pace with the evolving financial landscape.

With respect to near-term goals, Wolfond notes that SecureKey is on a constant endeavor to work alongside the cross-industry representation of its partners in the spirit of true collaboration, to build solutions that simplify digital identity for the greater good.