Use of bank-issued credentials from TD Bank Group, Scotiabank and BMO
Financial Group will enable secure, convenient access to online
TORONTO, Nov. 7, 2011 /CNW/ - Toronto based SecureKey Technologies Inc.
today announced that it has been awarded a contract by the Government
of Canada to provide an innovative Credential Broker Service (CBS) that
will allow Canadians to use their bank authentication credentials to
obtain access to online government services. To ensure privacy
protection, users of the CBS will authenticate through their bank but
neither their login credentials nor the identity of their bank will be
shared with the Government of Canada. Similarly, no information about
the government service being accessed by the user will be shared with
the user's bank.
The new service is part of the Government of Canada's Cyber
Authentication Renewal initiative and leverages SecureKey's
authentication solutions, which enable banks, credit card issuers,
governments and healthcare providers to extend the security
capabilities of chip-based payment and identity cards to their mobile
and online offerings.
"We are thrilled to have been selected, through a competitive process,
by the Government of Canada to provide this unique service", said
SecureKey Technologies Inc, CEO Greg Wolfond, "This partnership between
government and industry lays the foundation for an ecosystem that will
offer increased choice and ease of use for consumers and businesses
accessing secure online services."
Management of security credentials is a constant challenge for online
government services which are used periodically, as website-specific
user ID's and passwords are often forgotten. SecureKey's new
authentication service will allow consumers to access government
services using their online banking login credentials or, if offered by
their bank, by tapping their bank-issued chip card on one of
SecureKey's easy-to-use USB card readers or, in future, on a
SecureKey-enabled laptop or mobile device.
To provide consumer choice and broad national coverage for the launch of
the service, three of Canada's largest banks, BMO Financial Group, TD
Bank Group and Scotiabank have been selected as the inaugural
credential providers. These banks offer unparalleled authentication
capabilities that will make customer access to online government
services much easier.
"We are pleased to be able to offer our customers safe, secure and
convenient online access to government programs and services," said
Mike Henry, Scotiabank's Senior Vice-President and Head of Canadian
Retail Payments, Deposits and Lending. "So many websites require login
information, making it easy to forget a few every now and then. With
this service, our customers won't have to worry about remembering
another user ID and password because they will be able to easily access
government services online using what they already use with us. This
will give them the peace of mind that their personal information is
"BMO sees this as a natural extension of services we offer to our
customers. Our participation gives customers a secure, simple, and
trusted verification process for accessing government sites and also
levers the investments we have already made in chip and contactless
technology to create a safe & sound environment for banking and
payments," said Mike Kitchen, SVP, P&C Products, BMO Bank of Montreal.
"SecureKey's credential service will offer our customers a powerful
combination of security and convenience when accessing their government
accounts online," said Paal Kaperdal, SVP, Online Banking, TD Bank
Group. "This is an innovative approach by both government and industry
to improve an essential service for Canadians, and another way that TD
can fulfill our promise of delivering a more comfortable banking
experience to our customers."
The CBS will go live in 2012 and will be made available to all
Government of Canada Departments and Agencies.
About SecureKey Technologies Inc.
SecureKey develops innovative hardware and software solutions that
extend the power of chip-based identity and payment credentials to
online and mobile transactions. With SecureKey, financial institutions,
health care providers and government organizations can offer their
online customers the convenience and security of ' tap to authenticate'
and 'tap to pay' services. SecureKey is a privately held company with
offices in Toronto, Ontario.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group (TSX, NYSE:
BMO) is a highly diversified financial services organization. With
total assets of CDN$477 billion as at July 31, 2011, and more than
47,000 employees, BMO provides a broad range of retail banking, wealth
management and investment banking products and solutions.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 70,000 employees,
Scotiabank Group and its affiliates serve some 18.6 million customers
in more than 50 countries around the world. Scotiabank offers a broad
range of products and services including personal, commercial,
corporate and investment banking. With assets above $567 billion (as
at July 31, 2011), Scotiabank trades on the Toronto (BNS) and New York
Exchanges (BNS). For more information please visit www.scotiabank.com.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Group (TD). TD is the sixth largest bank in North America by
branches and serves more than 20 million customers in four key
businesses operating in a number of locations in key financial centres
around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust, TD Insurance and TD Auto Finance Canada; Wealth
Management, including TD Waterhouse and an investment in TD Ameritrade;
U.S. Personal and Commercial Banking, including TD Bank, America's Most
Convenient Bank and TD Auto Finance U.S.; and Wholesale Banking,
including TD Securities. TD also ranks among the world's leading online
financial services firms, with more than 7 million online customers. TD
had CDN$665 billion in assets on July 31, 2011. The Toronto-Dominion
Bank trades under the symbol "TD" on the Toronto and New York Stock
SOURCE Secure Key Technologies Inc.
For further information:
Andre Boysen, EVP, Digital Identity & Authentication Services
SecureKey Technologies Inc.
Laura Mergelas, Corporate and Public Affairs
TD Bank Group
Ralph Marranca, Director, Corporate Media Relations and Issues Management
BMO Financial Group
Patty Stathokostas, Media Communications
Treasury Board of Canada Secretariat