Two of the biggest names in Canadian banking this week unveiled a collaboration.
Interac is expanding its verification service through a partnership with the National Bank of Canada, the financial institutions announced.
Through this integration, National Bank clients can now confirm their identity using their existing online banking credentials when accessing participating government and business services online, according to a statement from the venerable firms.
“Helping Canadians interact online with confidence requires consistent, reliable ways to confirm identity,” explains Fatema Pirone, who functions as Head of Interac Verified.
“Interac verification continues to expand across Canada’s financial institutions, and with the addition of National Bank, trusted digital identity verification is now within reach for the vast majority of Canadians,” Pirone stated.
The addition comes when Canadians are increasingly navigating essential services through digital channels, from government programs to everyday financial tasks, notes Victor Glorion, who serves National Bank as Customer Domain Lead of Client Strategy & Experience.
“Our collaboration with Interac has been seamless and highly productive, reflecting a shared commitment to security in digital verification services,” commented Glorion.
“By offering Interac verification service, we’re providing our clients with a reliable and convenient way to confirm their identity online,” he remarked.
Nearly 300 institutions are connected to Interac’s network (including Calgary’s Neo Financial and Toronto’s Wealthsimple), which sees 20 million actions per day. The firm’s verification solutions power major platforms such as Kijiji.
With more than $600 billion in assets and over 35,000 employees, National Bank is one of Canada’s “Big Six.” The institution earlier this year joined NATO’s Defence, Security, and Resilience Bank.
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