SecureKey innovates consumer identity protection with IBM Blockchain technology

Helping save tens of millions of dollars per year in the telco and banking industries

Published on 14 Aug 2017

The telcos in Canada...say just implementing this, it’s $50 to $70 million a year of savings, just in efficiencies. The banks say it’s hundreds of millions in efficiency.

Greg Wolfond, CEO, SecureKey Technologies

Customer
SecureKey Technologies

Industry
Computer Services

Deployment country
Canada

Overview

SecureKey Technologies is a leading identity and authentication provider that simplifies consumer access to online services and applications. The business provides privacy-enhancing services that enable consumers to assert identity information using trusted providers, such as banks, telecommunications providers and governments. Founded in 2008, SecureKey is headquartered in Toronto, with offices in Boston and San Francisco. It has approximately 100 employees.

Business need
SecureKey wanted to find a way to make it faster, easier and more secure for consumers to verify their identity when applying for services, such as a bank account or apartment.

Solution
SecureKey used IBM Blockchain technology to create its identity management solution. The solution, which is currently in development in Canada and will be live in 2018, gives consumers the ability to opt in to the new blockchain-based service using a mobile app. The app allows consumers to easily share trusted credentials with the organizations of their choice.

Benefits
SecureKey anticipates that telecommunications companies will achieve significant savings of CAD 50 – 70 million through efficiencies gained with the solution.

Components

IBM products and services that were used in this case study.

Solution
Cloud Computing

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