Menlo One has formed a partnership with Civic Technologies, a provider of blockchain identity-verification technology.
The company, which provides an open-source framework for making decentralised applications on the blockchain, said it will use the RegTech for login and KYC services. It will utilize Civic’s Secure Identity Platform (SIP) to provide developers with ‘powerful identity tools’ through a plug-in-play integration.
“Civic’s protocol for accessible, secure KYC and decentralized identity solutions will be available to everyone in the Menlo One ecosystem. Needless to say, we are looking forward to our partnership with Civic and bringing the benefits of decentralized identity to our developer community” said Matthew Nolan, CEO of Menlo One.
Headquartered in San Francisco Bay Area, California, Civic is a blockchain identity-verification technology company that allows consumers to authorise the use of their identities in real time. It lets users safely access websites and services using Civic Secure ID, satisfy KYC requirements with its resuable KYC, and protects the user before, during, and after an ID-theft incident.
Civic’s Secure Identity Platform (SIP) uses a verified identity for multi-factor authentication on web and mobile apps without the need for usernames or passwords.
The company’s Reusable KYC is a blockchain-based tool for organisations that require more than basic account verification services. Its global offering enables scanning and verification of documents, such as passports, driver’s licenses, utility bills, and Accredited Investor Checks using the Civic Mobile App.
Last year, Civic sold $33m of its tokens during its token sale event in June 2017. Vinny Lingham, Civic CEO and co-founder said, “We are pleased to welcome Menlo One to Civic’s Partner Network. This collaboration marks another milestone for Civic’s ecosystem and for on-demand, secure, and low-cost access to identity verification services.”
Blockchain collaboration platform Enkidu recently partnered with Civic to develop an advanced KYC identity service that operates on the concept of a Limited Liability company. The new product, which is set to be launched by August, is in the developmental stages, however; interested parties can get an alpha prototype on the Enkidu website.
Block66, a blockchain-based lending solution mitigating mortgage fraud, also recently partnered with the RegTech to bring trusted, secure identity services to the mortgage industry and enable Block66 to verify information given by borrowers.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
