Proof of ID's White Paper
Don’t Get Left Behind in Canada’s Financial Revolution
Why Acting Now Is Critical
Canada’s financial ecosystem is changing fast. By 2026, all major banks must comply with theConsumer-Driven Banking Framework mandating secure, user-directed data sharing. But therace to build consumer trust has already begun. If your institution isn’t ready with a secure,scalable identity solution, your competitors will be.
Fraud is surging up 25% in just one year. Consumer trust is plummeting. And regulators arecracking down with over $20M in fines for weak KYC practices in 2023 alone. The question isn’t ifyou’ll need a modern identity verification platform. It’s how fast you can implement one beforecustomer churn, compliance failures, or fraud catch up with you.
ProofOfID: Move Fast, Stay Secure
ProofOfID isn’t just another KYC provider, it’s your competitive edge. Unlike traditional solutions, ProofOfID gives your customers a reusable, secure digital ID that they can use across services, eliminating friction, cutting costs, and accelerating onboarding to under 5 seconds.
Most KYC providers offer a one-time check. ProofOfID delivers a full digital ID lifecycle, on demand, on the user’s terms.