Credivera expands verifiable credentials business with acquisition of Oliu’s technology stack

The provider of verifiable credentials for professionals has announced that it has entered into a conditional agreement to acquire Oliu’s technology stack. A product of ATB Financial’s innovation arm ATB Ventures, the acquisition will strengthen Credivera’s position in the digital trust landscape, according to the Calgary, Canada-based company.

“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,” said Dan Giurescu, CEO of Credivera. “This strategic move will drive innovation, improve customer satisfaction, and solidify our leadership in putting verifiable credentials to work.”

Oliu’s technology is expected to complement Credivera’s existing offerings, while adding “layered” ID verification capabilities. It continues the relationship between ATB Ventures and Credivera as last year the two firms partnered to “scale up” deployment of digital credential and ID verification offerings in Alberta and across Canada. With $62.3 billion in assets, ATB Financial has grown to over 820,000 clients since it started in Alberta, Canada. “This acquisition will enable Credivera to accelerate its growth and provide even greater value to its customers,” Dan Hugo, ATB Financial’s CFO, said.

Previously, Credivera entered a “global strategic partnership” with Northern Block, a provider of digital credentialing and trust establishment solutions, in an offering for workforce digital ecosystem rollouts. This combined Credivera’s credential platform, the Credivera Exchange, with Northern Block’s Orbit Trust Registry, to enable open, decentralized workforce ecosystems that operate across organizational boundaries, according to the company.

The aforementioned Crediva Exchange is the company’s flagship product and received a significant boost in profile last summer when it successfully qualified for purchase by the Government of Canada. Under the Innovative Solutions Canada’s (ISC) Pathway to Commercialization program, Credivera was able to offer its digital credential technology to all Government of Canada departments, crown corporations and agencies. “To have Credivera’s technology recognized and approved at the federal level is beyond words and extremely exciting for our entire team,” Dan Girescu, CEO, said at the time.

Article Topics

ATB Ventures  |  Canada  |  Credivera  |  digital trust  |  identity verification  |  Oliu  |  verifiable credentials