Sun Life Financial is partnering with “leading provider of identity and authentication solutions” SecureKey Technologies to utilize blockchain technology for safer transactions.

The collaboration will allow Sun Life’s clients to easily and securely share identity information using other trusted providers such as banks, telcos, and governments.

“As part of our relentless focus on making it easier for our clients to do business with us through new digital capabilities, we are proud to team up with SecureKey to offer an even more simplified online experience,” said Sun Life Financial executive vice-president and chief information officer Mark Saunders.

Saunders revealed that through the partnership, Sun Life will “be able to streamline and simplify the onboarding process for new clients by using SecureKey’s permission-based tools and blockchain security to instantly verify personal information.”

Some of the benefits of implementing blockchain technology include:

• Blockchain based solutions designed to make it easier for clients to share their credentials in an efficient and secure way.
• Seamless and real-time identity verification process for new clients to streamline digital offerings.
• Quick and easy data updates to information, enabling sharing of the most current, verified client data.

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