ATB Ventures | Resources

ATB Ventures | ATB Ventures' Oliu™ Partners with thirdstream™ to Scale Adoption of Digital ID Verification Across Canadian Financial Institutions

ATB Ventures — Thu, 11 Apr 2024 06:00:00 GMT

April 11, 2024

CALGARY, AB – March 28, 2024 - ATB Ventures, the research and innovation arm of ATB Financial, today announced a strategic partnership between Oliu™, its state-of-the-art layered ID verification platform and thirdstream, a leading provider of deposit account opening and retail lending solutions for financial institutions. The partnership will see thirdstream offer Oliu™’s digital ID verification services to its extensive network of financial service providers across Canada.

Thirdstream's platform delivers a range of digital account opening solutions that encompass identity verification, account funding, consumer acquisition, business onboarding, unsecured retail lending, and credit card onboarding.

With the integration of Oliu™, thirdstream clients within financial services will uniquely be able to offer their customers the ability to verify their identities simply by logging into their existing Alberta.ca accounts. This is expected to extend to additional provincial Government services portals as Oliu™ continues to engage jurisdictions.

Commenting on the partnership, Azim Esmail, Head of Venture and Product at ATB Ventures, stated, "The integration of Oliu™ into thirdstream's robust platform ensures that financial institutions across Canada can offer their customers a seamless and secure digital ID verification experience. We are excited to continue engaging in these types of progressive industry partnerships which are collectively helping to reshape the landscape of digital trust in Canada."

Thirdstream clients gain enhanced security with Oliu™'s digital ID verification, simplifying and expediting account setup procedures. The collaboration with ATB Ventures’ Oliu™ underscores thirdstream's dedication to secure and innovative solutions, enabling its platform to meet diverse retail and business needs, providing financial institutions flexibility in targeting customers across various devices.

"Our collaboration with ATB Ventures underscores our dedication to providing the most secure and innovative solutions to our clients," said Keith Ginter, thirdstream’s founder and CEO. "Oliu™'s integration into our platform is a direct result of engagement and feedback from among our almost fifty financial institution clients. With this integration, we are positioned to offer clients an advanced and highly secure method of digital ID verification, ensuring a streamlined and reliable onboarding experience for their customers."

ABOUT OLIU™

Oliu™ is a digital trust platform that makes it easy for businesses to issue, manage and verify digital credentials. Built on open (W3C) standards, it offers real-time layered identity verification, privacy and control over personal identity data, and protection against fraud and identity theft - all while enabling fast, efficient, and secure customer experiences. Oliu™ is the first Canadian company to achieve the PCTF certification through DIACC.

To learn more about Oliu™, please visit https://oliu.id/

About ATB Ventures™

ATB Ventures is the research and innovation arm of ATB Financial, a leading Alberta-based financial institution. Driving growth at the edges and exploring opportunities beyond financial services, ATB Ventures focuses on helping companies bridge the gap between consumers' increasing concerns about privacy and security, and their desire for more advanced personalised experiences.

To learn more about ATB Ventures, please visit https://atbventures.com/

About thirdstream

thirdstream, headquartered in Lethbridge, Alberta, provides digital account opening solutions, online and in-branch, to over fifty clients. From identity verification to account funding, thirdstream’s solutions support consumer acquisition, business onboarding, and unsecured retail and commercial lending and credit card onboarding. The platform is cloud-deployed on Microsoft Azure, designed for retail and business consumers seeking out financial institutions, and for financial institutions targeting consumers anywhere, anytime, from any device.

To learn more about thirdstream, please visit https://www.thirdstream.ca/

For media enquiries, please contact Josh Stanbury at josh@sjspr.co

ATB Ventures | ATB Ventures' Oliu™ Partners with Government of Alberta for Seamless Digital ID Verification

ATB Ventures — Thu, 28 Mar 2024 06:00:00 GMT

March 28, 2024

CALGARY, AB – March 28, 2024 - ATB Ventures, the research and innovation arm of ATB Financial, today announced a collaboration between Oliu™, its digital trust platform, and the Government of Alberta. The collaboration will see Oliu™ further expand its identity verification capabilities, offering fast, efficient and secure verification for Albertans with an Alberta.ca Account.

Alberta.ca Account, originally introduced in 2015, caters to individuals with a valid email address, while verified accounts, launched in 2017, are available to Alberta residents with a valid driver’s licence or identification card issued by the province. With over 3.5 million active Alberta.ca accounts, 2.1 million verified accounts, and more than 1 million actively used accounts, the platform has become integral for Albertans accessing online government services, akin to presenting an ID card or driver’s licence in person.

Organisations using Oliu™’s digital trust platform will be able to enhance and streamline the identity verification process for Alberta-based customers, quickly onboarding those who have a verified Alberta.ca Account. Customers choosing this method of identity verification when opening a new account with an organisation that has integrated the Oliu™ platform will be prompted to sign in to their existing Alberta.ca Account. By doing so, their verified status is logged by the new service provider without copying the user’s personal information, ensuring a fast, efficient, and highly secure onboarding experience.

"This project empowers Albertans to choose how they want to identify themselves when accessing online services. It’s a great show of confidence that ATB is taking advantage of the secure Alberta.ca Account to deliver value to its customers," Nate Glubish, Minister of Technology and Innovation.

Adding customer identity verification using existing Alberta.ca login credentials further expands the Oliu™ platform’s utility for its customers. Using Oliu™, organisations now have an even greater number of options to quickly and securely verify their customer’s identities resulting in seamless onboarding experiences.

"At ATB Financial, we are proud to partner on this initiative which aims to deliver a safer and more efficient online environment for Albertans. Enabling Albertans to leverage their verified Alberta.ca Account for secure identity verification, enhances digital access while prioritising their privacy," stated Dan Hugo, Chief Financial and Strategy Officer at ATB Financial.

As a component of the collaboration with the Government of Alberta, Oliu™ completed a thorough PIA (Privacy Impact Assessment) which was submitted to, and gained acceptance from, the Office of the Information and Privacy Commissioner of Alberta (OIPC).

ABOUT OLIU™

To learn more about Oliu™, please visit https://oliu.id/

About ATB Ventures™

About ATB Financial

With $60.2 billion in assets, ATB Financial is a leading financial institution that started in Alberta with the focus of putting people first. Our success comes from our more than 5,000 team members who love to deliver exceptional experiences to over 800,000 clients across our Personal and Business Banking, ATB Wealth Management and ATB Capital Markets businesses. ATB provides expert advice, services and products through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres and our digital banking options. ATB powers possibilities for our clients, communities and beyond.

For media enquiries, please contact Josh Stanbury at josh@sjspr.co

ATB Ventures | ATB Ventures' Oliu™ Becomes First Canadian Organization to Achieve DIACC Certification

ATB Ventures — Tue, 12 Mar 2024 06:00:00 GMT

March 12, 2024

CALGARY, AB, March 12, 2024 - ATB Ventures, the research and innovation arm of ATB Financial, announces that Oliu™, its leading digital identity verification platform, has achieved certification from the Digital ID and Authentication Council of Canada (DIACC), making it the first organization to get certified for DIACC PCTF (Pan-Canadian Trust Framework).

The Oliu™ service has been subject to DIACC's third-party conformity assessment for the PCTF Privacy Component, which included an independent audit conducted by DIACC Accredited Auditor KUMA and an independent committee review for quality assurance.

"Being recognized as the first Canadian organization to achieve DIACC certification is exceptional validation for Oliu™, highlighting the strength and security of our platform," said Azim Esmail, Head of Venture & Product at ATB Ventures. "The certification underscores our dedication to providing secure and reliable digital identity verification solutions that meet the highest standards of quality and integrity. It also reflects our commitment to enhancing trust and confidence in the Canadian digital economy."

The Oliu™ service demonstrated conformity to the PCTF Privacy conformance criteria, meeting all the applicable requirements. Based on the successful results of the certification process, designed around ISO/IEC 17065, DIACC has issued a three-year cycle Trustmark subject to annual surveillance audits in the scope of the PCTF Privacy certification granted.

"DIACC's certification program sets a high standard for digital identity solutions, emphasizing security, interoperability, and user privacy," said Joni Brennan, President at DIACC. "For Oliu™, achieving the certification demonstrates its commitment to providing trustworthy and reliable digital identity verification services and advancing secure and interoperable digital trust and identity services in Canada."

About Oliu™

Oliu™ is a blockchain-identity management solution that makes it easy for businesses to issue, manage and verify digital credentials. Built on open (W3C) standards, Oliu™ leverages identity frameworks such as the Pan-Canadian Trust Framework (PCTF) and National Trust and Identity Fundamentals to make mobility and interoperability between identity systems possible.

To learn more about Oliu™, please visit https://oliu.id/

About ATB Ventures™

To learn more about ATB Ventures, please visit https://atbventures.com/

About DIACC

Established in 2012, DIACC is a non-profit organization of public and private sector members committed to advancing full and beneficial participation in the global digital economy by promoting adoption and establishing a certification framework to verify the assurance and trust practices of services. DIACC prioritizes personal data control, privacy, security, accountability, and inclusive people-centered design.

To learn more about DIACC, please visit https://diacc.ca/

For further information: For media enquiries, please contact Josh Stanbury at josh@sjspr.co

ATB Ventures | ATB Ventures' Oliu™ Teams Up with Flinks to Deliver Frictionless Digital ID Verification Using Bank Connectivity

ATB Ventures — Tue, 16 Jan 2024 07:00:00 GMT

January 16, 2024

CALGARY, AB, Jan. 16, 2024 - ATB Ventures, the research and innovation arm of ATB Financial, today announced a partnership between Oliu™, its state-of-the-art digital ID verification solution, and Flinks, a trusted provider of financial data connectivity in Canada. The partnership will see Oliu™ integrate with Flinks' data connectivity platform to enable its customers within financial services and beyond to offer their end users, frictionless digital ID verification using bank connectivity.

Leveraging Flinks' direct API bank connections network, organizations using Oliu™ will be able to instantly verify customers' identities using their existing Canadian bank accounts all in compliance with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) identity verification guidelines. Customers choosing this method of ID verification when opening a new account will simply be prompted to sign in to an existing Canadian bank account. By doing so, their verified identity information is transferred from the existing account, to the new service provider.

The integration allows organizations to pre-populate registration forms and streamline their KYC (Know Your Customer) processes, eliminating the need for any cumbersome manual identity verification and enabling swift and highly-secure onboarding.

Azim Esmail, Head of Growth & Partnerships at ATB Ventures, highlighted the significance of the collaboration: "The incorporation of Flinks-powered bank account verification into Oliu™ elevates our platform to become one of Canada's most comprehensive and resilient digital ID verification solutions. It will deliver another leap forward in removing friction from customer onboarding and enhancing security using digital ID verification. Oliu™ equips organizations within financial services and across multiple other sectors with a powerful platform to mitigate fraudulent activities, and expedite account creation increasing customer retention and loyalty."

Using customer bank accounts to verify identity allows organizations to make informed decisions based on accurate and real-time data, directly obtained from a trusted source.

"This collaboration embodies Flinks' commitment to enabling businesses to leverage financial data to deliver exceptional digital experiences," said Frederick Lavoie, COO and Co-founder at Flinks. "By partnering with Oliu™ and enabling digital ID verification, we can unlock advanced levels of security and efficiency for our customers while setting new and robust standards in the industry."

About Oliu™

To learn more about Oliu™, please visit https://oliu.id/

About ATB Ventures™

About Flinks

Trusted by millions of individuals across North America accessing financial services at world-class companies, Flinks is a leader in data connectivity, data enrichment, and Open Banking. With the largest OAuth network and reliable Open Banking solutions, Flinks enables businesses to securely connect to their customers' financial accounts, enrich this data, and utilize it to deliver better digital products. To learn more, visit flinks.com

For further information: Media enquiries, please contact Josh Stanbury at josh@sjspr.co

ATB Ventures | ATB Ventures' Oliu Selected by PayTrie to Deliver State-of-the-art Digital ID Verification for Cryptocurrency Trading

ATB Ventures — Wed, 06 Dec 2023 07:00:00 GMT

December 6, 2023

CALGARY, AB, Dec. 5, 2023 - ATB Ventures, the research and innovation arm of ATB Financial, today announced a groundbreaking partnership with PayTrie, a leading platform for secure stablecoin purchasing and selling in Canada. PayTrie has selected Oliu, ATB Ventures' state-of-the-art digital ID verification solution, to streamline customer enrollment and verification processes.

The partnership marks a key milestone as PayTrie becomes the first digital asset platform to integrate Oliu for ID verification. The integration of Oliu enables PayTrie customers to swiftly verify their identities using their existing identity documents, provincial digital IDs, and, uniquely, bank login credentials, in compliance with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) identity verification guidelines. This eliminates the traditional hassles associated with lengthy verification processes and ensures a quick, highly secure and hassle-free onboarding and login experience reducing user drop-off rates.

Speaking about the partnership, Azim Esmail, Managing Director of Growth at ATB Ventures, commented: "The collaboration between Oliu and PayTrie is an immensely exciting one, representing a significant leap forward in enhancing security and convenience for investors. By leveraging Oliu's cutting-edge digital ID verification, we aim to redefine the onboarding experience for PayTrie and its customers, ensuring a swift, highly secure, and user-friendly process."

"At PayTrie, we prioritize user experience and security," said Kevin Zhang, Co-Founder at PayTrie. "Partnering with Oliu enables us to further solidify our commitment to offering a seamless and trustworthy platform for cryptocurrency transactions."

Digital identity and verification serve as the cornerstone of Canada's digital economy. Oliu is positioned to play a pivotal role in shaping the landscape of digital trust, offering businesses robust solutions to mitigate digital fraud in Canada which cost Canadians $531 million in 2022.

About Oliu™

Oliu is a blockchain-identity management solution that makes it easy for businesses to issue, manage and verify digital credentials. Built on open (W3C) standards, Oliu leverages identity frameworks such as the Pan-Canadian Trust Framework (PCTF) and National Trust and Identity Fundamentals to make mobility and interoperability between identity systems possible.

To learn more about Oliu, please visit https://oliu.id/

About ATB Ventures™

For media enquiries, please contact Josh Stanbury at josh@sjspr.co

About PayTrie

PayTrie is the premier stablecoin service, enabling buying and selling of stablecoins, and trusted by Canadians across the country. Committed to security, PayTrie minimizes risk and offers swift user verification for seamless onboarding in just 3 minutes. Whether you're a crypto novice or pro, PayTrie simplifies your journey with low and transparent fees, delivering the best cryptocurrency experience.

To learn more about PayTrie, please visit https://paytrie.com/

For further information: For media enquiries, please contact Jason Tong at jason@paytrie.com

ATB Ventures | ATB Ventures to Speak at the EXCITE Conference, Discussing Digital ID Evolution and Cybersecurity

ATB Ventures — Tue, 07 Nov 2023 07:00:00 GMT

November 7, 2023

CALGARY, AB, Nov. 7, 2023 - ATB Ventures, the research and innovation arm of ATB Financial, is excited to announce its participation in the EXCITE Summit, an exclusive event that brings together experts and thought leaders in the digital space. ATB Ventures will be represented by Azim Esmail, Head of Growth, who will join John Armit, Canadian Anti-Fraud Centre Expert from the Ontario Provincial Police, and Omar Shabbir, Director of Growth from Infrastructure Ontario, in a panel discussion at the event.

EXCITE is Canada's premier community of digital economy leaders, technology experts, policymakers, and innovators, focused on advancing digital trust and catalyzing digital solutions that make life and business better for Canadians. Its Fall Summit is known for delivering insightful and valuable content, featuring expert discussions on topics such as advancing digital services, enhancing digital security and privacy, and promoting digital innovation and people in digital spaces.

Azim Esmail, Head of Growth at ATB Ventures, shared his thoughts on the event: "This conference is a unique opportunity to explore the potential of digital identity in reshaping the way we manage data and identity. By collaborating with other industry leaders, we aim to bring to light the remarkable advancements in digital ID technology that have the very real potential to revolutionize our future. Our focus is on meaningfully disrupting the rapidly growing issue of data fraud and ultimately empowering individuals in the digital age."

The presentation title for the event is 'Provincial Digital ID Evolution: Empowering Private Sector Cybersecurity and Data Protection.' In the panel session, ATB Ventures will discuss the potential of digital ID technology to enhance cybersecurity and data governance across public and private sectors. They will explore real-world examples of how new technologies are changing the way Canadians manage their digital identities.

Key highlights of the panel discussion include insights into provincial digital credential ID verification, the role of digital verification technology in reducing cybersecurity risks, and a discussion on innovations in digital identity technology. The session will also cover the benefits for private enterprises, recent innovations, and how new digital verification technology will be introduced in the market.

"Digital identity technology holds the promise of transforming and modernizing how businesses and governments deliver services. I believe in the potential of this technology to empower both businesses and individuals with their own data, enhancing security and privacy, driving mobile-first services, and meeting customer demand for speed and flexibility in today's ever-evolving digital landscape. Together we can build a digital trust ecosystem, where all sectors of the economy work together to unlock a cycle of innovation that benefits everyone." - Omar Shabbir, Director of Growth, Infrastructure Ontario.

The event is scheduled to take place on Nov 8 and 9, and attendees can catch the insightful panel discussion on the 8th at 1:50pm EST.

About ATB Ventures

For further information: For media enquiries please contact Josh Stanbury, at josh@sjspr.co

ATB Ventures | Decoding Creativity Pt 2: Lessons from Pigeons and Humans

Miranda Mantey — Thu, 24 Aug 2023 06:00:00 GMT

August 24, 2023

In the 1970s, a group of researchers became frustrated with the over-glamorization of chimpanzees' "intelligence" by the scientific community. They believed that instead of exploring simpler explanations, the community mistakenly attributed basic behavioral accomplishments of chimpanzees to higher-order human cognitive abilities. To challenge this notion, they decided to repeat the same studies conducted on chimpanzees, but this time with pigeons. It is with these studies that ATB Ventures began our exploration of the interplay of creativity with nature versus nurture.

As mentioned in part 1 of Decoding Creativity, creativity remains a largely elusive concept even to the scientific community. Numerous creativity theories have been proposed, including the now-disproven "left versus right" side of the brain theory. Furthermore, there are constant debates about the nature of creativity. For instance, Einstein believed that creativity transcended objective and scientific understanding, as well as our ability to engineer it.

The absence of consensus in defining creativity is not surprising. Many scientific subjects initially appear inexplicable, and over time, we develop explanations that make sense based on our current knowledge. For example, ancient Greeks attributed the movement of the sun across the sky to Helios. It is important to acknowledge that our understanding of creativity is still evolving, and although recent studies suggest it may be orderly and predictable, these findings are subject to future challenges.

That being said, we also recognized the importance of finding a system of thinking surrounding creativity that both aligned with our team’s values of "human-obsessed, creatively led, and future-oriented" and that made creativity understandable. We leveraged studies to ignite a structured discussion rather than presenting unchallengeable facts. That focus took us to pigeons, a banana, and a box.

Pigeons: Nurturing Creativity

It may have all started as a mechanism of political commentary, but Dr. Robert Epstein and his colleagues' work with pigeons kickstarted a withstanding space of research which became the foundation for understanding novel and complex behaviors in animals and humans. Epsteins' approach was this: provide pigeons human-like training and then place them in a new situation like a child might face. If the pigeons exhibited behavior similar to how a person might respond, it suggested that comparable performances in humans and chimpanzees could be attributed to training rather than cognitive abilities.

One notable study in this space involved the "Banana and Box" problem. Previous research had shown that apes could move a chair to reach a banana hanging out of reach, an achievement attributed to "insight". However, Epstein and his colleagues found that pigeons, with proper training, not only also solved the problem but also exhibited consistently new and sometimes dramatically different approaches. Further studies on pigeon behaviour revealed numerous instances of human-like behavior in the birds, such as problem-solving, cooperation, competition, and even "moral" behavior. These findings laid the groundwork for understanding the dynamics of competition and the combination of thoughts that lead to the emergence of novel performances.

Humans: Predictable Creativity

Inspired by their work with pigeons, Epstein and his team delved into problem-solving experiments involving humans. In one study, participants were tasked with connecting two long strings hanging from the ceiling using any items in the room. After conducting the experiment numerous times, typical behaviors emerged, including:

Pulling one string towards the other and realizing they were out of reach
Attempting to pull the other string to the original one, and recognizing its insufficiency
Repeating these attempts, although less frequently over time
Exploring the room, and spotting a long stick
Using it to extend their reach, which ultimately failed
Eventually, tying one of the strings to the stick, often continuing to try extending their reach, but realizing it is still too far
Dropping the stick only to realize the stick's connection made the string sway—a eureka moment
Swinging the item to the other string. With the strings now close enough, participants would tie them together successfully.

This "aha" moment in the experiment, termed "automatic chaining" by the researchers, illustrates how decisions made in one moment can impact future behaviors and choices. Similar patterns of behavior can be observed in everyday life. For example, when you walk to the kitchen for water and see cookies on the counter, you are more likely to have a cookie than you were a few minutes before. Tying the string to the stick increases the probability of realizing it helps the string swing, making swinging and catching the stick more likely.

Understanding Order and Predictability

Researchers continued to present participants with similar problems to observe their responses, videotaping their behaviors and tracking their decision-making over time. By aggregating all participant data, they were able to create frequency profiles of different behaviors over time. Using the previous study as an example, the frequency profile would show a steady decrease in the probability of pulling one string to the other, while other behaviors increased in probability in an orderly sequence. For instance, tying an object to the string made swinging more likely, which, in turn, increased the likelihood of connecting the strings.

To further explore human behavior, researchers used their generativity model to program a computer that simulated the same experiences. Surprisingly, the computer-generated model often mirrored human behavior, contradicting the common belief that all decisions are novel and independent. Instead, these findings suggested that novel problem-solving performances, which we often consider "creative," are orderly and predictable.

Theory of Generativity

These experiments led Dr. Epstein and his team to develop the Theory of Generativity, which posits that various cognitive processes operate simultaneously and continuously, influencing the probabilities of different behaviors. Novel behavior emerges as a result of these dynamic processes. Contrary to the belief that creativity is rare, generativity research indicates that everyone has the capacity for creativity. We all can create something new and appropriate to the task at hand, and by utilizing generativity theory, we can foster conditions that increase the likelihood of creative output.

Practicing Creativity: The Four Behavioral Traits

Dr. Epstein proposed four behavioral traits that individuals can practice to enhance the competition and combination of thoughts, facilitating the emergence of novel behavior. These traits include capturing, challenging, broadening, and surrounding. In the upcoming series, we will delve into these four approaches to practicing creativity, accompanied by supporting research and techniques.

Through studying the behaviors of pigeons and humans, researchers have gained valuable insights into the complex nature of creativity. By understanding the interplay between nature and nurture, and embracing a systematic approach, we can unlock our own creative potential. The Theory of Generativity provides a framework for enhancing creative output by practicing specific behavioral traits. So, let's take inspiration from the creative abilities of pigeons and embark on our own creative journeys, confident in the knowledge that creativity is within our reach. If a pigeon can do it, so can I.

ATB Ventures | Identity Management Provider Oliu™ Pushes into Passwordless Authentication as Consumers and Industries Move Towards a Passwordless Future

ATB Ventures — Thu, 24 Aug 2023 06:00:00 GMT

August 24, 2023

CALGARY, AB, Aug. 24, 2023 - ATB Ventures, the innovation arm of ATB Financial and creator of market-leading digital credential management solution, Oliu - announced this week the official launch of Passwordless Authentication - an enhanced security feature that makes it easy for individuals to protect their most sensitive information while interacting with businesses online.

Seizing a fast-growing digital identity market with Oliu, passwordless authentication is a natural evolution of Oliu's security capabilities. Integrated into Oliu's digital credential management platform and its digital credential wallet, Proof, the new authentication feature plays a key role in mitigating the escalating data breaches associated with passwords - the primary point of entry for cyber attacks.

Passwordless Authentication - a means to verify a user's identity without a password - eliminates the need for organizations to store and manage user credentials. In addition, it removes the issue of individuals needing to memorize and regularly reset numerous complex passwords, dramatically reducing friction across digital experiences.

As consumers have grown to expect faster, more intuitive, and transparent digital experiences from the organizations they do business with, they also put their trust in robust underlying security. By removing the need for password-based authentication, Oliu and Proof's solution is harder to crack and more secure than traditional identity and authentication practices.

"Most passwordless authentication approaches either simply store a username and password (to resolve it in the background) or convert an existing username and password to a token stored on the user's device," commented Nav Dhunay, Managing Director of Technology at ATB Ventures. "Oliu's unique approach allows users to authenticate with a digital identity credential (stored in their wallet), negating the need for new passwords at every digital interaction. Oliu's solution sets a new standard for interoperable authentication that prevents data breaches from brute force attacks like password guessing."

With digital identity and authentication forming the foundation of Canada's digital economy, Oliu and Proof are helping to shape the future of digital trust, providing businesses with secure solutions to address such issues as the 40% increase in fraud which came at a cost to Canadians of $531 million in 2022.

"The move towards passwordless authentication is gaining momentum as cybercrime associated with conventional passwords continues to escalate, globally," says Sue McGill, SVP of ATB Ventures. "For data-driven digital economies to thrive, next generation identity solutions like Oliu and Proof are critical to Canada's growth and long-term competitiveness."

To learn more about Oliu and Passwordless Login, please visit https://oliu.id/oliu-for-onboarding.

About Oliu™

About Proof™

Proof is a mobile wallet that puts consumers' digital credentials at their fingertips. Using advanced encryption, Proof makes it easy to store, manage and share verifiable credentials all in one place.

About ATB Ventures

For media enquiries, please contact josh@sjspr.co

ATB Ventures | Oliu™ Identity Management Platform Launches a Ready-to-Deploy Solution for SME Market

ATB Ventures — Tue, 22 Aug 2023 06:00:00 GMT

August 22, 2023

Oliu's enhanced solution allows SMEs (small and midsize enterprises) to adopt and accelerate deployment of identity verification capabilities while reducing their exposure to Know-Your-Customer (KYC) risks.

CALGARY, AB, Aug. 22, 2023 - ATB Ventures, the research and innovation arm of ATB Financial, today announced the release of its SME-tailored solution as part of its digital identity management platform, Oliu™.

With the rise of digitization and small and medium businesses representing a significant share of Canada's economy, now more than ever, transforming these businesses digitally is critical.

At the core of every digital interaction is identity, and every digital interaction is dependent upon trust. In order to ensure systems are trustworthy, SMEs need an identity verification solution that provides the highest level of security when it comes to verifying, accessing, and securing identities, is easy to deploy, and also delivers a seamless customer experience.

Oliu's pay-as-you-go, cloud-based subscription service leverages intuitive low-code methods and flexible APIs, eliminating the need for intensive resources and upfront investment that invariably drives up the total cost of deployment and maintenance. Built to optimize for KYC compliance, Oliu allows SMEs to confidently and cost-effectively verify the identity of their customers so that they can focus on business priorities and growth.

"Traditional approaches to identity management and verification are often complex, expensive, and take significant time to deliver real value and assured compliance," says Chandra Rink, Managing Director of Product at ATB Ventures. "For small and medium sized businesses with limited resources, protecting their customers while maintaining compliance with KYC can be incredibly challenging. We're excited to launch this next evolution of Oliu that provides SMEs with a simple and secure identity verification solution, allowing them to build trust while simplifying the customer onboarding process."

A key differentiator of Oliu's enhanced SME solution is passwordless authentication. This new feature significantly improves the customer experience by providing a fast, frictionless digital experience while decreasing authentication risks. It's broadly understood that passwords are insecure, with 81% of hacking-related breaches involving compromised passwords, and multiple operating costs. Oliu's Passwordless Login feature makes it easier for businesses and their customers to interact while maintaining robust online security.

To learn more about Oliu please visit https://oliu.id/oliu-for-onboarding.

About Oliu™

About Proof™

About ATB Ventures

For media enquiries, please contact: Josh Stanbury, josh@sjspr.co

ATB Ventures | Decoding Creativity Pt 1: The Origin of Creativity

Miranda Mantey — Thu, 03 Aug 2023 06:00:00 GMT

August 3, 2023

What do dreaming, a thunderous train of air, and a falling spoon have in common? On one hand, despite being mundane experiences for many, these events have served as sources of inspiration for some of the greatest inventions, poetry, and art of the last few centuries. On the other hand, these stories, along with many others, formed the basis of my team's recent exploration of creativity and how scientific research can help us enhance our individual and collective creative abilities.

Don't worry, we'll come back to these stories in a minute! But before we get to that, I want to introduce you to this latest written series, Decoding Creativity. Last year, my team dove into the concept of creativity with four extensive sessions about its history, significance, and application. Our goal with the workshops was to create an environment where we could better understand creativity, practice research-backed skills for developing creativity, and form a greater confidence in their creative abilities. It wasn't an idea workshop, and there was no intention to come away with anything actionable. The purpose was creativity for creativity's sake.

This series will serve as a catalog of the valuable insights we gained during those sessions, allowing you to apply them to your own creative practices. One of the most impactful realizations for ATB Ventures was that while "creativity" often feels like an elusive state that only some people can tap into, it is actually a well-researched field, albeit not yet fully understood. With intentional effort, we can decode creativity.

Is the aha moment the pinnacle of creativity?

When trying to describe creativity, many mention that slippery "aha" moment that came suddenly and unsuspectingly.

Let's start with our first story. Elias Howe, the inventor of the lockstitch sewing machine, found inspiration in a turbulent dream. After years of failed designs, he dreamt that he was taken prisoner and given the task of completing his invention. In the dream, he failed and was sentenced to execution, but he noticed his captors holding spears with holes at the top. In a moment of realization, he leapt out of bed and immediately reworked the needles of the sewing machine, moving the holes from the middle to the point. This solved his long-standing problem and led to one of the most significant sewing machine designs in history.

Similarly, mathematician Jules-Henri Poincaré experienced a creative breakthrough while solving a complex math equation. After wrestling with a problem for two weeks, the solution came to him unexpectedly when he was boarding a bus for a geological trip with friends. Poincaré described it as follows: "At the moment when I put my foot on the step, the idea came to me, without anything in my former thoughts seeming to have paved the way for it." It wasn’t until he was out of the context of solving the problem that the solution actually came to him

When we think of creative individuals, we often envision artists, innovators, or writers—people whose lives are filled with serendipitous "aha" moments. While these individuals are undoubtedly creative, their overt display of creativity through their artistic endeavors is neither rare nor dependent on luck. In modern history, there has been a popularized belief that creativity is an innate quality tied to artistic skill or elevated thinking, which some are born with — despite research challenging this belief. Let's briefly explore how we arrived at this perspective.

History of creativity

Like most beliefs we hold in society, our current perspectives surrounding creativity didn't always exist. The ancient Greeks and Romans believed creativity was a gift bestowed by the divine. Greek philosopher Socrates even attributed his ideas to a small spirit called a "daemon". It was during the Renaissance Period's focus on rational thinking that creativity was redefined and no longer considered from an outside force. Instead of having a genius (or a "daemon," in Socrates' terms), you were a genius. Creativity was individualized.

During the Cold War era in the U.S., the sociopolitical climate yielded a renewed focus on creativity. This time, the emphasis was on giftedness, especially in the educational system. The resulting understanding was not simply that creativity was an individual, personalized trait but also that it was a responsibility. One's contributions to society depended on the ability to be creative, and this quickly translated to business endeavors as well. Creativity was valued where it produced profit, innovation, and success. However, even decades later, we continue to perceive creativity primarily as a means to an end. This global mindset diminishes the true essence and purpose of creativity.

Defining creativity

The Cambridge Handbook of Creativity offers a concise definition: creativity is "something that is both new and task-appropriate." There is a general scientific consensus around this description. However, understanding creativity requires considering the cultural movements that have shaped our perception of the concept.

Throughout history, communities have used the language of creativity inconsistently. According to our definition, creativity doesn't have to yield groundbreaking ideas or masterpieces of art. It can be as simple as brushing your teeth in a slightly different way each day without even realizing it, or leaving a clever comment on a friend's Facebook meme. It can be offering constructive feedback to your teammates. The key is that it must be new and relevant to the task at hand.

This stands in contrast to the present world, where creativity is often measured solely by its output. Those who provide the most direct value through their creativity are deemed important. It is crucial to break free from this mindset as it creates a self-limiting cycle, where the expression and experience of creativity are constrained by a self-perceived lack of skill.

If creativity is a skill, can we train it?

By dissociating creativity from being solely an innate quality, whether internal or external, we open up new possibilities for exploration. Modern research studies demonstrate that everyone has the capacity to be creative, and there are specific methods to enhance the likelihood of creative output. Creativity is not merely a phenomenon; it is a scientific reality ingrained in the wiring of our brains. While those "aha" moments are indeed captivating and exciting examples of creativity, the creative process is generally more straightforward and doesn't rely on unexplained, seemingly random strokes of genius.

I acknowledge that the mention of "scientific research" may appear vague, and I understand that there are still two more stories from the introduction to share. However, these stories will be presented in future parts of this series. For now, I encourage you to reflect on your preconceived notions about creativity. Does creativity stem from an innate source within us, from an external influence, or is it something we can learn by approaching it with the right intention?