Subscribe Now
Proof Of ID, your ID is secured. Build trust and protect your ID with Proof Of ID, an AI-driven identity verification and ID sharing platform for a robust KYC.
A Brief for Financial Institutions & Innovators in Open Banking
May 8, 2025
ProofOfID: Powering Trust in Canada’s Financial Revolution
The Opportunity: Trust Is the Currency of Open Banking
Canada’s financial system is transforming. By 2026, large banks must support secure, consumer-directed data sharing under the Consumer-Driven Banking Framework. This opens doors to innovation, personalized lending, smarter budgeting, real-time credit offers, but it also creates a new battleground: digital trust.
Last year alone, Canadians lost $569 million to identity fraud. Traditional verification methods, slow, manual, and breach-prone aren’t just outdated. They’re dangerous.
The Solution: ProofOfID
ProofOfID is more than a one-time KYC check, it’s a portable digital ID that can be securely reused across platforms. Built for the demands of Open Banking, it offers FIs a future-proof way to reduce onboarding friction, verify identities in under 5 seconds, and cut costs by up to 30%.
What Sets ProofOfID Apart:
- 🚫 Other KYC services stop at a single check.
- ✅ ProofOfID goes further by creating a reusable, decentralized digital ID that users can share and validate on demand.
Key Features:
- ✅ Decentralized Digital ID stored on the user’s device
- 🔒 Multi-layer security and encryption empowered by AI and Machine Learning for end-to-end protection
- 🔁 Reusable ID Tokens enable continuous identity validation
- 📱 QR and number based Sharing, consumer-approved, real-time
- ⚡ 99.9% Identity Accuracy via Equifax APIs and other integrations
- 📉 30% Cost Reduction in onboarding operations
- 📊 Fully Compliant with KYC/AML and PCTF standards
“ProofOfID eliminates repetitive verifications, cuts manual steps, and gives users a secure ID they control.”
Why Now?
Fraud is up 25% since 2022. KYC fines topped $20M in 2023. And 71% of Canadians say they hesitate to share financial data due to privacy concerns.
ProofOfID solves this giving consumers control, FIs security, and regulators transparency.
- Perfect for:
- Tier 1 banks preparing for 2026 data-sharing compliance
- Credit unions battling synthetic ID fraud
- Fintechs scaling with faster onboarding
- Regulators demanding secure, standards-based processes
Join the Movement
ProofOfID isn’t just a better way to verify identities, it's the foundation for secure, frictionless digital finance.
See It In Action – Book Your Demo
🔗 Request a demo: www.proofofid.io/contact
Be ready for 2026. Be trusted with ProofOfID.
Proof Of ID: AI Powerd ID Validation and Sharing
