The Canadian Bankers Association (CBA) said that the need for digital identification will grow, and Ottawa, for instance, is already exploring the possibilities of open banking. CBA recognises that the payments system is modernised, and blockchain and artificial intelligence move into new frontiers.
As such, moving away from a paper-based, face to face process towards a modern identification system is needed to ‘unlock the full potential’ of the digital revolution that is underway. What CBA has in mind is a ‘federated’ model of digital identification that would aim to create linkages between federal and provincial systems, as they hold information including social insurance and drivers’ licences.
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