Digital Identity Proof partnerships with Equifax for secure digital identification sharing within Canada
In a groundbreaking move, Proof Of ID and Equifax have joined forces to enhance digital identity solutions within Canada's Open Banking framework. This collaboration aims to provide more secure and reliable digital identity verification for financial services, thereby fostering trust and confidence in the digital age.
The partnership leverages Equifax's extensive credit and identity data alongside Proof Of ID's digital identity platform. This synergy facilitates seamless, trustworthy identity verification tailored for Open Banking applications. With Open Banking, consumers in Canada are granted unprecedented control over their financial data, and robust digital identity verification is critical to ensure security, prevent fraud, and maintain consumer confidence.
Proof Of ID's services are built with advanced encryption, ensuring that sensitive identity data moves securely and compliantly in Open Banking in Canada. The integration of Proof Of ID's platform into Equifax's verification data encrypts, tokenizes, and validates digital ID sharing in real time, further bolstering security measures.
This partnership is in line with Canada's KYC/AML standards, ensuring regulatory compliance. It also aims to redefine how financial institutions onboard customers and combat fraud, thereby streamlining processes and reducing risks such as fraud and synthetic identities.
Moreover, the partnership puts consumers in control by providing them with a portable, verifiable digital ID. This digital ID empowers users, allowing them to leverage Equifax's "gold-standard" data for their benefit.
Proof Of ID is an Event Partner of Open Banking Expo Canada 2025, to be held on June 17 in Toronto. At this event, Proof Of ID will showcase how the new integration empowers financial institutions and consumers alike. Interested individuals can find out more about the agenda and register to attend the Open Banking Expo Canada 2025.
By removing the need for manual uploads and replacing vulnerable centralized databases with secure identity assurance, this partnership is set to revolutionize the digital identity landscape in Canada's Open Banking environment.
- At the Open Banking Expo Canada 2025, Proof Of ID will demonstrate how their integration with Equifax is revolutionizing the digital identity landscape, providing a secure and reliable solution for Open Banking applications.
- The partnership between Proof Of ID and Equifax is enhancing digital identity solutions within Canada's Open Banking framework, offering a portable, verifiable digital ID that gives consumers control over their financial data and empowers them to leverage Equifax's gold-standard data.
- This partnership is streamlining processes and reducing risks such as fraud and synthetic identities in the financial sector, while also ensuring regulatory compliance with Canada's KYC/AML standards, thanks to advanced encryption technology and real-time validation of digital ID sharing.
