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 .