I’m thrilled to be discussing Identity Assurance, at the 40th IACA Annual Conference in Halifax, Nova Scotia from May 21-25.

In the first general session on the Tuesday – entitled CLEAR SAILING: IDENTITY ASSURANCE IN ELECTRONIC TRANSACTIONS, I will be illustrating to the audience of Business Registries how they, as the official Identity Providers (IdPs) within their jurisdictions, can easily facilitate accurate, timely Know Your Customer (KYC) services to Service Providers such as banks and other relying parties.

It’s amazing how such a simple concept of using industry standard identity assertion protocols could save financial institutions and public sector services, millions of dollars in KYC and AML expenditure.

The Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements (BIS) highlighted the problem very articulately “…it has to be taken into account not only that information is exchanged at the outset of a relationship, but that continuous updates are necessary. As a result, the KYC due diligence process is complex, costly, time-consuming and labour-intensive.”  The full PDF is available at https://www.bis.org/cpmi/publ/d147.pdf.

Let’s see, if working together with Business Registries, Ubisecure can be a catalyst for change in how Service Providers consider KYC.

You can follow the event using #iacaorg and I will be sharing the presentation after the event.