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Verified.Me launched today
May 1, 2019
6:28 am
Leafs1967
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May 1, 2019
7:07 am
Top It Up
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After reading through their website and watching the video, I'm not certain that I need an digital intermediary in my work/life balance, right now ... but I'll watch how it develops and evolves and maybe down the road ???

------------------------------

There's an app for that? CRA eyes new, digitally secure way to access services

https://edmonton.citynews.ca/2019/01/19/theres-an-app-for-that-cra-eyes-new-digitally-secure-way-to-access-services/

May 1, 2019
7:53 am
Bud
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The founder is the guy who founded 724 a company that burned investors during the first dot.com bubble

May 1, 2019
7:59 am
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hotmony said
The founder is the guy who founded 724 a company that burned investors during the first dot.com bubble  

I can't find anything to support your accusation - how about a link?

May 1, 2019
8:34 am
Doug
British Columbia, Canada
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Expect to see more of this, rapidly, over the next few years. Both the federal government and the Canadian Senate have been holding extensive public consultations on open banking. Ultimately, industry, with government's blessing by way of legislative amendments, would like to create a centralized repository of individuals, corporations, and the like, so they could one day, instantly, look up who all the major shareholders are of a privately-held corporation. That's the gist of it, more or less. Government would benefit, too, in being able to readily ascertain all of the connected individuals and corporations. It would likely cut down further on tax evasion, making it much more difficult, at least domestically, to do.

I personally wouldn't use, and don't like that it's, a mobile app. I'd prefer if this Verified.Me service offered a web-based interface and was of a back-end intermediary to verify my external bank accounts electronically when linking them to a new digital bank. Hopefully, they'll continue working on that B2B back-end service, in addition to this B2C service.

Cheers,
Doug

May 1, 2019
9:38 am
Bud
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Top It Up said

I can't find anything to support your accusation - how about a link?  

Wolfond did a good job of scrubbing the web. A .com with no rev that went from north of $8bill in market cap to zero. He made out like a bandit. The company would go around signing up big names like his current venture to pump the stock. Like you opening up 50 savings accounts and claiming each FI does business with you.

https://www.americanbanker.com/news/724-solutions-closes-deal-with-tantau-software

“I think it was the most successful IPO in Canadian history… it went to something like an $8 billion market cap in no time,” he says. “It was a pretty cool business.”

https://startupheretoronto.com/success-story/securekey/

May 1, 2019
9:44 am
Doug
British Columbia, Canada
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Regardless, SecureKey Technologies has been around for a long-time, which provides the back-end authentication technologies for both our CRA and Service Canada accounts. Many financial institutions are, I think, starting to use it to verify our bank accounts electronically. I suspect this company is highly profitable (or will be soon). sf-cool

Cheers,
Doug

May 1, 2019
9:49 am
Bud
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Like the convenience but question the business of skimming taxpayers

May 1, 2019
9:59 am
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So, you linked a paywalled article with a click-bait headline as your support when every other article on search shows the guy to be the real deal ... doubtful he'd be getting the Big 5 and the CRA to tag along on the new venture if he was as suspicious as you suggest ... but stranger things have happened.

May 1, 2019
10:03 am
Bud
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Top I'm sure everyone whose been burned in the stock market shares your feelings

Technology vulnerable to a hack maybe better to have multiple passwords each FI each firewalled generally

May 1, 2019
10:34 am
Doug
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hotmony said
Like the convenience but question the business of skimming taxpayers  

Skimming taxpayers? How so? They have a contract with CRA. If that's "skimming taxpayers," then you could argue any private government contractor is "skimming taxpayers". sf-cool

Cheers,
Doug

May 1, 2019
10:36 am
Doug
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hotmony said
Top I'm sure everyone whose been burned in the stock market shares your feelings

Technology vulnerable to a hack maybe better to have multiple passwords each FI each firewalled generally  

That latter point is a valid one, hotmony, and worthy of discussion. Tarring one of SecureKey's founders with a permanent "brush" of negativity based on a past failed business venture is not, I think.

Cheers,
Doug

May 1, 2019
11:14 am
Bud
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Anyone who loses billions of investors money deserves to be tarred in my opinion. Too often we let these people go. Nortel ruined peoples lives it was financial assault. Apparently 6 or 7 suicides were linked to the scam.

May 1, 2019
11:27 am
Doug
British Columbia, Canada
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hotmony said
Anyone who loses billions of investors money deserves to be tarred in my opinion. Too often we let these people go. Nortel ruined peoples lives it was financial assault. Apparently 6 or 7 suicides were linked to the scam.  

True, but not sure that his previous business venture was on the part of malfeasance and more just to incompetence. If we start tarring people due to incompetence, then there's probably a few bank (and credit union) CEOs we could tar and feather. 😉

Cheers,
Doug

May 1, 2019
11:54 am
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hotmony said
Anyone who loses billions of investors money deserves to be tarred in my opinion. Too often we let these people go. Nortel ruined peoples lives it was financial assault. Apparently 6 or 7 suicides were linked to the scam.  

Still can't find anything where the guy stole money from investors. Founders and investors were red hot during the dot com era and more than many companies failed because the market wasn't ready for the innovation or the innovation wasn't there for the market.

As the adage goes - you got to know when to hold them, know when to fold them.

Lots and lots of 'investors' always out there looking for the next home run fever - ask those who bought Bitcoin @ $20,000 or those who bought Gold @ $1,900 - how's it going?

May 1, 2019
12:05 pm
Doug
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Top It Up said

Still can't find anything where the guy stole money from investors. Founders and investors were red hot during the dot com era and more than many companies failed because the market wasn't ready for the innovation or the innovation wasn't there for the market.

As the adage goes - you got to know when to hold them, know when to fold them.

Lots and lots of 'investors' always out there looking for the next home run fever - ask those who bought Bitcoin @ $20,000 or those who bought Gold @ $1,900 - how's it going?  

+1

Cheers,
Doug

May 1, 2019
10:46 pm
Norman1
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I think one can't find anything because Greg Wolfond didn't steal any investor money.

724 Solutions Inc. didn't fail either. Company was eventually bought and taken private by Austin Ventures in 2006. According to Bloomberg's executive profile about him, Greg Wolfond was with the 724 Solutions from its founding in 1997 to early 2006.

People lost money around 2000 in dot com stocks from buying garbage and overpaying for companies. "Got scammed" is a less bitter pill to swallow than "was incompetent for paying 100X to 400X annual earnings for the shares in a company".

May 2, 2019
7:22 am
Bud
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Never said he stole but he misled its potential for sure. The company was bought for a fraction of its pumped up high likely for capital losses deduction use and cash.

May 2, 2019
8:52 am
Doug
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hotmony said
Never said he stole but he misled its potential for sure. The company was bought for a fraction of its pumped up high likely for capital losses deduction use and cash.  

I think you might be over-reaching here, hotmony.

There's a few current credit union CEOs that I don't trust either, because they look slimy, but you don't see me tarring & feathering the whole credit union(s) because of my perception of their CEO(s). 😉

Cheers,
Doug

December 13, 2019
7:22 am
hwyc
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... so TD is notifying me about their updates to the structure and content of the various agreement(s), which will take effect on March 2, 2020 ... Looks like onboarding Verified.Me will be opted-in by default.

Appendix 1 - Changes to the Cardholder and Electronic Financial Services Terms and Conditions.

Any news from the other banks ?

PS - I noticed that Equifax is listed as one of the Network Participants on Verified.Me. Could the recent B2B/Equifax experience be a norm to come ?

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