Oliu™ Identity Management Platform Launches a Ready-to-Deploy Solution for SME Market
Oliu's enhanced solution allows SMEs (small and midsize enterprises) to adopt and accelerate deployment of identity verification capabilities while reducing their exposure to Know-Your-Customer (KYC) risks.
CALGARY, AB, Aug. 22, 2023 /CNW/ - ATB Ventures, the research and innovation arm of ATB Financial, today announced the release of its SME-tailored solution as part of its digital identity management platform, Oliu™.
With the rise of digitization and small and medium businesses representing a significant share of Canada's economy, now more than ever, transforming these businesses digitally is critical.
At the core of every digital interaction is identity, and every digital interaction is dependent upon trust. In order to ensure systems are trustworthy, SMEs need an identity verification solution that provides the highest level of security when it comes to verifying, accessing, and securing identities, is easy to deploy, and also delivers a seamless customer experience.
Oliu's pay-as-you-go, cloud-based subscription service leverages intuitive low-code methods and flexible APIs, eliminating the need for intensive resources and upfront investment that invariably drives up the total cost of deployment and maintenance. Built to optimize for KYC compliance, Oliu allows SMEs to confidently and cost-effectively verify the identity of their customers so that they can focus on business priorities and growth.
"Traditional approaches to identity management and verification are often complex, expensive, and take significant time to deliver real value and assured compliance," says Chandra Rink, Managing Director of Product at ATB Ventures. "For small and medium sized businesses with limited resources, protecting their customers while maintaining compliance with KYC can be incredibly challenging. We're excited to launch this next evolution of Oliu that provides SMEs with a simple and secure identity verification solution, allowing them to build trust while simplifying the customer onboarding process."
A key differentiator of Oliu's enhanced SME solution is passwordless authentication. This new feature significantly improves the customer experience by providing a fast, frictionless digital experience while decreasing authentication risks. It's broadly understood that passwords are insecure, with 81% of hacking-related breaches involving compromised passwords, and multiple operating costs. Oliu's Passwordless Login feature makes it easier for businesses and their customers to interact while maintaining robust online security.
To learn more about Oliu please visit https://oliu.id/oliu-for-onboarding.
Oliu is a blockchain-identity management solution that makes it easy for businesses to issue, manage and verify digital credentials. Built on open (W3C) standards, Oliu leverages identity frameworks such as the Pan-Canadian Trust Framework (PCTF) and National Trust and Identity Fundamentals to make mobility and interoperability between identity systems possible.
Proof is a mobile wallet that puts consumers' digital credentials at their fingertips. Using advanced encryption, Proof makes it easy to store, manage and share verifiable credentials all in one place.
ATB Ventures is the research and innovation arm of ATB Financial, a leading Alberta-based financial institution. Driving growth at the edges and exploring opportunities beyond financial services, ATB Ventures focuses on helping companies bridge the gap between consumers' increasing concerns about privacy and security, and their desire for more advanced personalized experiences.
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SOURCE ATB Ventures
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