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SecureKey Technologies

securekey.com

Founded Year

2008

Stage

Acquired - II | Acquired

Total Raised

$73.67M

About SecureKey Technologies

SecureKey Technologies develops hardware and software solutions that extend the power of chip-based identity and payment technologies to online and mobile transactions. Financial institutions, health care providers, government organizations, and others can provide online convenience, as well as enhanced security and privacy using SecureKey's online card, virtual card, and device-secured authentication and payment solutions.On March 24th, 2022, SecureKey Technologies was acquired by Avast. The terms of the transaction were not disclosed.

Headquarters Location

4101 Yonge Street Building 4, Suite 501, York Mills Centre

Toronto, Ontario, M2P 1N6,

Canada

855-796-3386

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ESPs containing SecureKey Technologies

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Financial Services / Cybersecurity

These companies offer solutions that support the secure transfer of information (e.g. secure communications, multi-party computation, and device/user authentication) using distributed ledger technology.

SecureKey Technologies named as Outperformer among 9 other companies, including R3, ConsenSys, and Digital Asset.

Missing: SecureKey Technologies's Product & Differentiators

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Research containing SecureKey Technologies

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned SecureKey Technologies in 1 CB Insights research brief, most recently on Sep 7, 2021.

Expert Collections containing SecureKey Technologies

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

SecureKey Technologies is included in 6 Expert Collections, including Blockchain.

B

Blockchain

5,651 items

Companies and startups in this collection leverage blockchain technology for crypto trading, decentralized finance (DeFi), NFTs, and more.

P

Payments

2,460 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

C

Cybersecurity

4,937 items

F

Fintech

3,455 items

Excludes US-based companies

D

Digital ID In Fintech

268 items

For this analysis, we looked at digital ID companies working in or with near-term potential to work in fintech applications. Startups here are enabling fintech companies to verify government documents, authenticate with biometrics, and combat fraudulent logins.

C

Canadian fintech

349 items

SecureKey Technologies Patents

SecureKey Technologies has filed 1 patent.

The 3 most popular patent topics include:

  • Federated identity
  • Identity management
  • Identity management systems
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/22/2019

8/4/2020

Identity management, Federated identity, Identity management systems, Identity management initiative, Password authentication

Grant

Application Date

1/22/2019

Grant Date

8/4/2020

Title

Related Topics

Identity management, Federated identity, Identity management systems, Identity management initiative, Password authentication

Status

Grant

Latest SecureKey Technologies News

How banks are shaping Canada's digital ID infrastructure

Jul 8, 2022

By  Robin Arnfield July 08, 2022, 11:19 a.m. EDT 5 Min Read REGISTER NOW Canadian banks and the country's Interac debit network are heavily involved in the nation's digital ID initiatives, working with telcos and tech companies to promote interoperability and thus reduce fraud. Being able to verify customer identity digitally will be critical when Canadian financial institutions launch the Real-Time Rail instant payments service in 2023, followed within the next few years by open banking . Digital ID refers to a federated form of identification that draws on multiple sources and is flexible and reusable. It’s better suited for digital payments than static forms of authentication such as usernames and passwords. This makes digital ID of value in combating fraud, which has been rising in Canada due to the growth in online transactions during the pandemic. In 2021, there were 30,849 cases of identity fraud and 9,666 scams involving personal information, according to the Canadian Anti-fraud Centre. The government-backed fraud reporting service received 104,295 total fraud reports involving CA$379 million in reported losses in 2021, up from 46,465 fraud reports and CA$96.16 million in reported losses in 2019. Prior to the pandemic, Canada’s largest financial institutions were already involved in developing digital ID services in partnership with Toronto-based SecureKey Technologies. In 2016, the country’s top five banks — Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Nova Scotia (Scotiabank), and Toronto-Dominion Bank — and credit union group Desjardins were among investors in SecureKey, which develops blockchain-based federated digital ID verification platforms. In May 2019, SecureKey launched Verified.Me , a Canadian digital ID network that uses customers’ encrypted personal information drawn from multiple databases along with their banking login credentials to verify their identity. Verified.Me users must provide consent for their personal and credit information to be shared with third-parties, and no personal information is stored by Verified.Me. Canada’s top five banks and Desjardins use Verified.Me to vet the identities of customers applying for bank accounts and loans from them. They also enable customers to use their banking login credentials to access services from organizations participating in Verified.Me such as investing, health care, notarizing legal documents, and real estate. In addition to banks, Verified.Me’s partners include Equifax, which checks for fraud on applicants’ financial accounts; Onfido, which checks the legitimacy of photo ID documents uploaded to Verified.Me; and EnStream, a telco industry joint venture which ensures consumers’ cell phone accounts haven’t been hacked. In October 2021, Interac, which operates Canada’s debit and ATM networks as well as the Interac e-Transfer payments service, bought the Canadian rights to Verified.Me. Interac aims to sign up the 300 financial institutions participating in its payments networks to act as credential providers for Verified.Me so it can act as a nationwide digital ID scheme, said Neil Butters, Interac’s vice president of digital ID product. “We’re building an ID network that is intended to become a utility for Canadians, giving them confidence to transact in the digital economy,” said Butters. “Interac’s goal for Verified.Me is to be as ubiquitous as possible. We’re looking at the applicability of Verified.Me for open banking and the Real-Time Rail.” The Large Credit Union Coalition, which represents Canada’s largest credit unions, is creating a credit union system node on Verified.Me, said Atul Varde, chief information and payments officer at Edmonton, Alberta-based Servus Credit Union. “Servus is actively involved in this process and is one of the first implementers,” he said. “Once this node is functional, Servus members could use their digital banking credentials to access services from Verified.Me's relying parties. For example, Servus members could apply for Internet connections more easily and securely from telcos if they use digital ID data from Servus to process their application.”

SecureKey Technologies Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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SecureKey Technologies Rank

SecureKey Technologies Frequently Asked Questions (FAQ)

  • When was SecureKey Technologies founded?

    SecureKey Technologies was founded in 2008.

  • Where is SecureKey Technologies's headquarters?

    SecureKey Technologies's headquarters is located at 4101 Yonge Street, Toronto.

  • What is SecureKey Technologies's latest funding round?

    SecureKey Technologies's latest funding round is Acquired - II.

  • How much did SecureKey Technologies raise?

    SecureKey Technologies raised a total of $73.67M.

  • Who are the investors of SecureKey Technologies?

    Investors of SecureKey Technologies include Avast, Interac, U.S. Department of Homeland Security, Digital ID Authentication Council of Canada, Bank of Montreal and 14 more.

  • Who are SecureKey Technologies's competitors?

    Competitors of SecureKey Technologies include VU Security and 8 more.

Compare SecureKey Technologies to Competitors

Spring Labs Logo
Spring Labs

Spring Labs is a technology company building the Spring Protocol, a blockchain-based network that enables network participants to exchange valuable information without sharing underlying source data. The initial use case for the Spring Protocol will facilitate the exchange of identity, fraud, and risk information among financial institutions to create a more efficient, transparent, and secure ecosystem for consumer financial data.

R3 Logo
R3

R3 is an enterprise blockchain software firm working with a global ecosystem of participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage. The Corda platform is used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers.

Blocko Logo
Blocko

Blocko is a blockchain infrastructure provider offering customers digital identity, digital signatures, and various blockchain-based services and applications. Blocko's product, Coinstack, enables clients to share data with third parties in a cyber-security safe, efficient manner. It was founded in 2014 and is based in Seongnam, South Korea.

ConsenSys Logo
ConsenSys

ConsenSys is a blockchain venture production studio that builds an ecosystem of consumer-centric products and enterprise solutions using blockchain technologies, primarily Ethereum. The company was formerly known as Capital Platinum Systems. It was founded in 2014 and is based in New York, New York.

I
ICONLOOP

ICONLOOP is a blockchain technology company specialized in the implementation and design of blockchain technology. ICONLOOP has developed my-ID, a blockchain-based digital ID (DID) service; loopchain, a blockchain core engine; and DPASS, a blockchain-based self-sovereign identity authentication service.

Digital Asset Logo
Digital Asset

Digital Asset provides tools that use distributed ledgers to track and settle both digital and mainstream financial assets in a cryptographically secure environment. The company's platform, Daml, enables organizations to easily connect and switch between applications and networks built on different blockchains without depending on a single solution provider. Digital Asset was founded in 2014 and is based in New York, New York.

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