The new blockchain solution for identity verification and KYC/AML support from idCredit and GetID has been released.
IdCredit is a distributed system which offers identification functionality designed to support financial companies verify their clients.
All of the projects within the ecosystem are currently under IT Development and testing. Its blockchain-based system is designed to ease KYC for consumers by removing the need of completing multiple onboarding processes for various service providers.
GetID is the first software product to be made live on the ecosystem. To accelerate onboarding procedures, a user simply uploads pictures of their ID and takes a photo of themselves. These will be cross-referenced and verified.
Businesses can use the tool to improve KYC and AML protocols and they only need to pay for the functions they require, removing extra costs.
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