Several Canada-based banks have provided $20.5m in funding for SecureKey to support the development of a digital identity network it plans to release next year.
Canada-based identity and authentication technology developer SecureKey Technologies closed a C$27m ($20.5m) funding round on Tuesday featuring strategic investments from a host of financial services firms.
BMO Bank of Montreal, Bank of Nova Scotia, CIBC, Desjardins, Royal Bank of Canada and TD all took part in the round, which will support the development and commercial rollout of a new digital identity network by SecureKey in 2017.
SecureKey already operates an online authentication service called SecureKey Concierge, and the new product…
