Identity and authentication services and reusable digital identity are expected to grow to $266 billion by 2027, with a compound annual growth rate of 68.9%, according to Liminal (formerly OWI), digital identity specialists. The private sector is expected to account for the majority of this growth. SecureKey's mission has been to simplify consumers' access to secure online services and applications, such as government, healthcare, and financial account opening, by using secure digital versions of the credentials they already have and trust.
SecureKey's services include Verified.Me, a first-of-its-kind distributed digital identity verification network, and Government Sign-In by Verified.Me, for convenient access to hundreds of government online services and applications. Both services are provided by Interac Corp. under an exclusive Canadian license agreement. SecureKey's digital identity solutions enable more than 200 million secure digital identification transactions annually worldwide. SecureKey's investments will support emerging digital identity standards and solutions, including decentralized identifiers (DIDs) and verifiable credentials, to further empower digital trust networks and ecosystems that enable true user-centric control.
The deal is expected to close in early April 2022, with general availability of SecureKey products anticipated in the second quarter.
