Credivera has agreed to acquire Oliu, a verification technology stack from the innovation arm of ATB Financial.
Calgary’s Credivera gives employees and organizations increased control over how credentials are issued and stored.
The Canadian company does so through the Credivera Exchange, which maintains up-to-date, verifiable credentials in a secure digital wallet.
Oliu’s technology complements Credivera’s existing solutions, according to a statement from the firms, adding state-of-the-art layered ID verification capabilities.
“By integrating Oliu’s advanced ID verification technology, we are enhancing our platform’s capabilities and reinforcing our dedication to providing secure and reliable solutions,” remarked Dan Giurescu, chief executive officer of Credivera.
“This strategic move will drive innovation, improve customer satisfaction, and solidify our leadership in putting verifiable credentials to work,” he said.
The acquisition of Oliu builds on an earlier partnership with ATB established last year.
“This acquisition will enable Credivera to accelerate its growth and provide even greater value to its customers,” commented Dan Hugo, CFO at ATB Financial.
“This partnership is important in continuing to build a robust innovation and tech sector in Alberta, and ATB is proud to be involved in these advancements,” he continued.
Based in Edmonton, ATB Financial has more than 5,000 employees who serve more than 800,000 clients across $62 billion in assets.
The institution’s innovation arm, ATB Ventures, launched Oliu in 2023.
Oliu has previously collaborated with Montreal’s Flinks, the Government of Alberta, and thirdstream.
Credivera was founded in 2018.
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