Manual KYC process is slow and outdated which increases friction between service providers and customers. Such identity verification methods have been causing a rise in customer drop off rates, costing service providers a lot of their potential revenue.
There is a cost of maintaining a fully dedicated system to perform KYC.. Such systems and databases require putting substantial amounts of resources to ensure every new customer or client you have onboard, is genuine as well as verified.
Your identification traits submitted during verification, either online or offline are always susceptible to identity theft. If the personal information you have supplied gets into hands of cyber criminals, it can be manipulated and used for their malicious intents.
The job of proving identity to every organisation which demands a KYC check is tedious as well as boring. Customers find it very inconvenient to carry the same set of documents, along with their photocopies, everywhere the service providers demand it.
To solve all the issues mentioned above, we have developed D-KYC, a digital identity verification platform to suit anyone’s and everyone’s verification needs. It performs KYC processes remotely and completely online without requiring customers to meet, fill out forms and submit documents. Providing customers with best in class customer onboarding functionality, VeriME offers identity verification services which are completed within seconds. The benefits?
Current methods of payment authentication such as 2 factor/3 factor authentication are prone to many security threats such as Man-in-the-middle (MitM) or Man-in-the-Browser (MitB) attacks, thus failing to protect sellers and buyers.
Current payment authentication methods involve many players. E.g. a 3D Secure authentication offered for Credit/Debit Card Payments involves the Issuing Bank, Acquiring Bank, Payment Schemes, ACS (Access Control Server) and MPI (Merchant Plug In) providers etc. thus making the solution quite expensive for merchants.
Present methods of authentication heavily rely on sending security codes through SMSs. These SMSs might not be delivered due to network error, or the mobile number not being in service anymore. Such scenarios pose a serious problems for the customers as they aren’t able to complete their purchases in time.
2 factor/ 3 factor authentication involves redirecting customers to a new page or sometimes shows errors with regards to page validity. These issues cause customers to drop off their purchases thereby increasing the basket abandonment rates.
Helping merchants & partners achieve seamless and secure authentication, VeriME offers D-Secure service which allows authentication of VeriME users within seconds thereby minimising customer drop-off rates . This solution would not only authenticate the customer, but also would provide full chargeback/dispute protection to VeriME partners and their Merchants. The benefits?
Conceptualise decentralised digital identity check
Launch VeriME D-KYC in Vietnam with 3 Partners
Vietnam: VeriME D-KYC 2.0 & D-SECURE Launch (50 Partners 10M Customers)
Singapore & Malaysia Launch (100+ Partners, 20M Customers)
10 APAC, countries 1k+, partners 100M Customers
20+ Countries, 3000+ partners, 1 Billion+ Customers
100+ countries, 10K+ partners, 3B+ Customers