Canadian Banks Adopting Blockchain for Identity Verification

Five Canadian banks are leveraging Secure Technologies’ Verified.Me identity system; this includes Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Desjardins Group; the technology is coming soon to Bank of Montreal and National Bank of Canada; Sun Life Financial in North America will be the first insurer to use the service; the network is built on collaboration between banks, telecoms and credit agencies, but the company hopes it will be used across other industries as well such as in healthcare to access documents securely; Verified.Me was developed by International Business Machines Corp and the Linux Foundation and various other firms have collaborated on the effort. Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!