1.What is the mission and vision of Stonebridge Solutions?
Stonebridge’s primary objective is to establish new mechanisms for identification, privacy and security to enable legitimacy, establish trust between two unknown parties and prevent fraud before it happens.
Our next generation technologies anticipate evolving and growing threats to both consumers and merchants and are designed to prevent these risks and empower users to positively impact their security and privacy as they transact digitally.
Our vision is to reduce the economic impact of fraud by provisioning a secure & private ‘digital last mile’ for payment.
2. Why is trustworthy digital identity critical for existing and emerging markets?
The world is experiencing a social and economic shift at an unprecedented rate. This is driving the growth of new and more sophisticated threat models and legacy systems and technologies that are not easily adapted to address them creating a large gap being exploited by fraudsters and driving a an urgent need for a trusted digital identity.
3. How will digital identity transform the Canadian and global economy? How does your organization address challenges associated with this transformation?
One of XUMI’s founding principles it that there is economic value creation through the prevention of fraud and the elimination of risks through the establishment of a trusted digital ID that can be legitimized at the point of interaction.
We also believe that the promotion of digitization in Canada coincident with a Pan-Canadian framework for digital identity will enable greater and more efficient access to banking, government benefits, education, health care and many essential services while facilitating the security of the digital footprint and this will strengthen Canada’s economy locally and its position globally.
4. What role does Canada have to play as a leader in this space?
Canada has a significant role to play as a leader in digital identity and trust. We have a demonstrated history of ‘locking arms together’ collaboratively to work towards the common good. When that is blended with best in class technology, banking, government, and healthcare through DIACC we can effect a change and establish a framework for success for others to model.
5. Why did your organization join the DIACC?
We joined DIACC because we understand and share the mission. We believe in the ‘root of trust’ being established and held by a trusted authority and have designed the last mile to extend this in a secure way to consumers and merchants. When we set out 4 years ago we believed that the road to global digital transformation was long, and then suddenly it wasn’t. Our technology is bigger than we are, and it has the ability to change the game, switch things up, have impact. We believe in the power of partnership and collaboration between great teams to solve extraordinary challenges. While working quietly away on our tech we’ve witnessed an unprecedented shift to digital in the last year, and alarming growth in the risks associated with it. We want to help, lend what ever we can to eliminate those risks and feel we can further that objective through DIACC.
6. What else should we know about your organization?
Stonebridge Solutions is a small, focused tech company located in Vancouver BC. Our objective of eliminating fraud began with the simple phrase “there has to be a simpler, more secure and easier way”.
We’ve spent 4 years devoting ourselves to eliminating the threat models associated with merchant payment, mobile wallets and mobile devices while designing innovative, intuitive and frictionless experiences for users, and a platform to support it under the brand name XUMI.