Canadian bank CIBC has agreed to join the SecureKey Concierge service.
SecureKey Concierge is a cloud-based platform aimed at offering a kind of single sign-on service to all members. Essentially, the system lets customers of its Trusted Sign-In Partners access sensitive digital services using their own banking credentials. In Canada, that will apply to all five of the big banks once CIBC is fully integrated, in addition to smaller banks such as Tangerine and Caisses Populaires.
In a statement announcing the agreement, SecureKey asserted that it has seen user credentials double in each of the past two years, with CIBC poised to further build the program’s momentum. SecureKey EVP Didier Serra said the banks’ agreement to participate in the program “is testament to the value of a federated authentication network.”
By removing the need for additional login credentials to access banking and even government services, the move should please a number of CIBC customers once the bank is fully integrated into the program.