Putting the customer first by putting them at the center of everything we do.

Putting the customer first by putting them at the center of everything we do.

November 17, 2020

Technology is ever changing and as technologists and product managers we hope that its evolution is a direct reflection on the growing needs of the consumer. However, as we all know, that may not always be the case. Take for example, the growing number of Customer Privacy breaches that have been catapulted into the spotlight in recent years.

At ATB’s Innovation Lab, we don’t take those concerns lightly and operate under the principle that innovation is not just the next big thing, but the next right thing. Although these solutions may be underpinned by the new technologies, the focus is always on the customer and building solutions that work for and with them.

An outcome of that focus has been our long standing commitment to fostering networks and building products rooted in the tenets of Self-Sovereign Identity (SSI) and the use of Verifiable Digital Credentials. These standards put the customer at the centre and allow them to be in control of their relationships, their data, and their privacy - unequivocally.

This new approach will radically transform the way that we conduct our daily lives, introducing enhanced levels of convenience that will streamline all of our digital interactions. Take for example, at any given time we (as individuals) manage up to 200 digital credentials (usernames, passwords, account numbers etc). With SSI, the need for separate logins will disappear and customers will be able to onboard, create an account, or process transactions in a matter of seconds - safely, securely and on their terms.

Self-Sovereign Identity (SSI) is a model for managing digital identities in which an individual has sole ownership and oversight over how, when and with whom their personal data is being shared. Users who subscribe to this model are able to hold and store all of their information directly on their own device and share for verification without the need of a central aggregator of data - which tend to be highly vulnerable to theft and attack.

Each time you interact with an organization to access services or pay for goods, a large amount of personal information is shared with a variety of agents (for example driver's license, Social Insurance Numbers, emails, etc). Not only is this a cumbersome process for you, but the more information you share the greater the risk is for the security of your data.

All of the data from each of those documents can now be converted into Verifiable Digital Credentials. Institutions can issue credentials directly to your phone and you can connect instantly to other entities and effectively prove you’re not only who you say you are but that you are allowed to do what you are saying you can do. SSI is the system that underpins the secure verification and transaction of these credentials and puts the end consumer in the driver's seat.

The use of Verifiable Digital Credentials also allows individuals and organizations to employ Zero Knowledge Proof (ZKP) Privacy Protocols. ZKP uses cryptography to send derived facts from the holder to the verifier without revealing full source data. For example, in order for you to access services from a verifier you may need to be over the age of majority. In order to prove that in the present day, you would likely present a driver’s license which contains other valuable and sensitive information (such as your address or exact birthday). In this new reality, you can share complete facts (e.g. your full name) and derived facts (eg. that you are in fact over the age of majority). It conveys the same information and is just as reliable, while protecting your privacy.

Our fundamental belief is that citizens deserve a new way to manage their digital self, so we have created a suite of products under our Open Identity portfolio that foster the principles mentioned above and translate them into meaningful experiences for customers.

The first we are bringing to market is Proof, a digital credential wallet for your Identity (and everything that comes along with it). This application will enable you to connect with institutions directly and allow you to accept, hold and manage all of your documents you already have as verified digital credentials. It provides you with new levels of:

  • Convenience: No need to remember multiple username and passwords, store and sort through multiple apps, paper documents and various emails. With Proof, everything you need will be safely stored and accessible from your device, and your device only.

  • Control: You will have complete oversight and control over how, when, and with whom your personal information is being shared.

  • Security: When you share information through Proof you can be sure that it is secure, impermeable, and only what companies need using Zero Knowledge Proof Privacy Provisions.

We believe that It's time to bring together everything that makes up who you are, and integrate it seamlessly with how you live.

Be the first to know when Proof launches and join our waiting list

ATB Ventures