Financial news site Finextra has picked up the news of the new application, already up and running with banks CIBC, Desjardins, RBC, Scotiabank and TD. BMO and National Bank of Canada are to add it shortly.

Keeps track of the rights given

The software solution, called Verified Me, is developed by a Toronto-based company named Securekey. It rests in turn on IBM’s blockchain platform.

The blockchain handles authorizations but does not itself hold the private data to be shared.