Fintech News | Fintech Zoom

GetID and idCredit’s Complex Blockchain Solution for ID Verification and KYC/AML

 Identification and verification processes are vital in order to securely enable digital transactions, and have become essential when it comes to cryptocurrency transfer operations. The brand-new idCredit and GetID projects were made to challenge the existing KYC services. idCredit’s platform is now live and currently empowering industry market solutions. GetID is the very first software product of this ecosystem, aiming to provide the unmatched options in the I.D. verification sector.

idCredit was founded back in 2017 and GetID was made in May 2019 by Alexander Tsikhilov and Dmitri Laush. For now, all the projects within the ecosystem are currently under IT development and testing. The team has already launched a highly successful platform for the fintech industry years ago, called Admiral Markets.

So what makes the newly designed KYC projects different from the existing ones on the market? There are plenty of advantages that set GetID apart from the rest, including their easy-to-launch software, which enables clients to take advantage of an efficient solution for onboarding while also benefiting from flexible pricing and payment conditions. GetID identity verification software significantly reduces the usual time period it takes to ensure the authentication of potential clients. Users just need to make a portrait and upload the pictures of the ID (or take a photo of it as well): the photos will then be cross-checked and the identity would be verified shortly.

GetID is intended for businesses that want to speed up their identification checks and simplify the overall regulatory process involved in KYC/AML compliance checks. The identity verification software developed by GetID enables users to significantly reduce the amount of time it takes to authenticate clients as well as to ensure that only one verification is required within the entire process. GetID corporate clients will pay only for the functions that are essential for their business, so the pricing of the service is very flexible and dependent on the client’s wishes.

READ  GameStop shares tank after earnings miss, cuts sales forecast

Meanwhile, idCredit is a distributed system that provides the functionality of identification for both physical and legal entities, confirmed by identifiers with their electronic signatures and intended for use by financial or other companies who obliged to identify their clients and conduct KYC or AML procedures.

idCredit is designed to be one of the most comfortable and convenient solutions to verifying one’s identity. With idCredit, there will be no requirement to passing a KYC procedure for every single service, thus uploading gigabytes of documents to a third party. Smart ID will allow everyone to verify their personality with just one click using just the idCredit mobile app.

Who is the target audience for idCredit? The three main demographics include customers, service providers, and identifiers. Among them are major corporations, KYC services (one of the features of idCredit – aggregation of the KYC services and identifiers), ICO projects, Fintech companies, crypto, classic exchanges, and cryptocurrency holders.

idCredit is the most simple and compliant way to verify anyone’s ID for any legal or business purpose nowadays.

Jung Min-seo


Add comment