Decentralized identity solutions provider Proof Of ID has integrated with Equifax to deliver a “game changing layer of trust and speed” to digital ID sharing.
The partnership aims to redefine how financial institutions onboard customers, combat fraud, and “thrive” in an Open Banking future.
By integrating Proof Of ID’s decentralized, user-controlled platform into Equifax’s trusted verification data, when a consumer opts to share their digital ID – be it for KYC checks or profile validation – the process is encrypted, tokenized, and validated in real time against Equifax’s authoritative records.
The partnership removes the need for manual uploads, and replaces vulnerable centralized databases with “fast, secure, and reliable” identity assurance.
Built with advanced encryption and aligned with Canada’s KYC/AML standards, Proof Of ID reduces risks, such as fraud and synthetic identities, while meeting regulatory requirements.
With Open Banking in Canada giving Canadians “unprecedented” control over their financial data, enabling seamless sharing with third-party providers for tailored services like budgeting tools, loans, or investment options, Proof Of ID has partnered with Equifax to ensure sensitive identity data moves securely and compliantly.
“Open Banking thrives on trust,” said François Roukoz, founder of Proof Of ID.
“Our integration with Equifax gives FIs a powerful tool to verify identities faster, cut fraud, and stay compliant, all while putting consumers in the driver’s seat.”
He added: “We’re thrilled to bring this vision to life and support Canada’s digital banking evolution.”
Backed by Equifax’s “gold-standard” data, Proof Of ID intends to “empower” users with portable, verifiable digital ID that is shareable on demand.
Proof Of ID is an Event Partner of Open Banking Expo Canada 2025, on June 17 in Toronto, where it will showcase how the new integration empowers FIs and consumers alike. Click here to find out more about the agenda and register to attend.
