Monthly Archives: March 2018

Spotlight on ATB Financial

Meet ATB

1. What is the mission and vision of ATB Financial?  

Our mission and vision are summarized in our 94 word story that took us over a year to craft. The gist? We believe we can make banking work for people again, by transforming how a bank could deliver value to its customers. We believe that if we succeed, we will ultimately be able to contribute to people’s happiness, setting a precedent that will cause the industry to rapidly evolve.

2. Why is trustworthy digital identity critical for existing and emerging markets?

The expectations of our customers on the experiences we need to deliver to them are changing, as access to what they want and need is more readily available on demand in most facets of their lives. To meet these demands, our business model (like many) is shifting away from a centralized, product-driven value proposition, to a distributed platform where value is created for customers across a network of partners. Digital identity is a key component of that model, as we may not hold the credentials for each participant in our business in the future. Being able to collaboratively manage trust across this type of platform will be a primary enabler. We also believe that this model will pave the way for people to ultimately “own” their identity as they never have before. Our stewardship with Sovrin ID network is another great example of this vision.

3. How will digital identity transform the Canadian and global economy? How does ATB Financial address challenges associated with this transformation?

Digital Identity can impact the economy in a number of ways; from removing the overhead of Know Your Customer (KYC) processes, to providing credentials to people who otherwise couldn’t access them (like the underbanked, as we were able to prove out with our Four Directions initiative). Delivering this type of value to consumers will also enable ATB to exceed the “last-best” experience expectations set forth by innovative brands, irregardless of industry segment.

At ATB, we are embracing the impact that digital identity will have on our business by setting up dedicated capabilities across the organization, from our Innovation Team who watch and test for disruptive trends at the Horizon 3 level, to our Customer Experience team who work to understand how digital identity will impact our customers and the interactions we have with them with a view to rapidly scale proven innovation. We are looking at the different models for managing digital identities (ex: the blockchain), as well as some of the specific challenges that might impact banks (ex: How do we ensure we are meeting our regulatory requirements under a customer-controlled identity model?). Joining DIACC is a key way that we are enabling our organization to connect with like minds to continue to build upon expertise in this subject matter!

4. What role does Canada have to play as a leader in the space?

In banking, Canada is just the right size to be a leader in Digital Identity Transformation. We have the right amount of infrastructure without too many participants to overcomplicate governance. The Canadian Payments Association is a great example where the banks are already sharing technology infrastructure for the exchange of bulk payments between financial institutions. SecureKey Concierge is another example where the banks are used as trusted identity providers to the Government of Canada. We have the opportunity to extend and build on these models of collaboration and be a leader, as we already have a history of working together to solve common problems.

5. What else should we know about ATB Financial?

We’d be remiss not to mention that we’re one of Canada’s top 50 employers with a dedicated vision to reimagine banking, make it work for people. We’re fervent in our approach to transform banking and deliver new value to the customers we serve, through the 5,000+ talented team members that form our organization. Our size makes us perfect to be nimble and quick in the testing and scale of new innovation, with our relentlessly inventive nature powering us along that path. We’re also happy to share what we learn as we go, which you can find on www.atbalphabeta.com. We’re also always on the lookout for talented team members in innovation and tech, that can connect with us on our LinkedIn talent community at www.bit.ly/ATBTransforms .

 

Spotlight on Hypersecu

Watch the video interview with CEO James Li:

1. What is the mission and vision of Hypersecu?  

Hypersecu Information Systems is a Canadian Controlled Private Corporation, founded in 2009. Our mission and vision are to provide top-of-the-line information security hardware products for digital identity and authentication. Our products are built on international standards-based protocols, are cost effective, and are open to competitive market forces in order to meet a broad range of users’ needs. At Hypersecu, we strive to ensure trust in the digital world.

2. Why is trustworthy digital identity critical for existing and emerging markets?

Global businesses today are highly reliant on digital transactions for both existing and emerging markets. For example, traditional payment methods are quickly being replaced by mobile payments and online payment services, which increases the need for proper identity authentication. Indeed, some businesses may rely exclusively on digital access alone. No digital transaction, including e-commerce, will be safe without a trustworthy digital identity. As a result, it’s extremely important that every user can be assured that their valuable digital identities are secure and managed responsibly.

3. How will digital identity transform the Canadian and global economy? How does Hypersecu address challenges associated with this transformation?

Digital identity is the cornerstone of the digital economy. Authentication ensures digital identity can be validated properly and is essential for all digital transactions, which greatly affects the Canadian and global economy.

The biggest challenge when implementing digital identity and authentication is ease of use and cost-effectiveness. We directly address these challenges by offering international standards-based identity and authentication products at a lower total cost of ownership and with user-friendly interfaces. Those in the digital economy can then easily integrate these technologies into their day-to-day business with little disruption.

In 2017, we delivered 4 million smart card-based HyperPKI tokens to India for local businesses to digitally file and sign their tax returns. The large number of users demonstrates how a framework using digital authentication can be effectively implemented and how that can translate to implementing a similar framework in Canada. In fact, we became the first Canadian hardware authentication vendor to credit unions across Canada. Helping credit unions secure their online wire payments is just the start. Our goal is to provide further tools and resources to address the challenges associated with digital identity, both locally and globally.

4. Why did Hypersecu join the DIACC?

Building a secure digital Canada requires knowledge and input from all those in the industry, regardless of their role, size, or sector of business. The DIACC builds a great platform for everyone to work together towards a safer digital world. As one of the top information security hardware vendors for digital identity and authentication and with many years working with global clients, we believe we can offer valuable input to help the DIACC achieve its goals.

5. What else should we know about Hypersecu?

Focusing on information security hardware products, we’ve delivered more than 5 million HyperPKI smart card-based USB token, HyperOTP one-time password tokens, HyperFIDO U2F security keys, and other products to multiple sectors around the world including enterprises, government agencies, small to medium businesses, K-12 schools, universities, and individuals.

We firmly believe in the value of hardware-based authentication products. Smart card-based products are currently recognized as the best technology for identity applications that must meet advanced security requirements such as those used by government agencies. As a result, we’re dedicated to working on finding that a critical balance between high-level security and user-friendliness, as well as the total cost of ownership, to ensure that every individual can benefit from these technologies in the digital world.