If you correspond with Verime by e-mail, company may retain the content of your e-mail messages, your e-mail address, and platform responses. Additionally, company store information about users’ contacts when users manually enter contact e-mail addresses or transfer contact information from other online social networks. Verime also collect general information about your use of company services.
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Slow: Manual KYC process is slow and outdated which increases friction between service providers and customers.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.
Expensive: 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.
Risky: 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.
Tedious: 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.
Solution – D-KYC
To solve all the issues mentioned above, Verime 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 on boarding functionality, VeriME offers identity verification services which are completed within seconds. The benefits?
Not Secure: 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.
Expensive: 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.
Inflexible: 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.
Inconvenient: 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.
Solution – D-Secure
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?
Verime are on a mission to Digitize KYC and Authentication processes, increase transparency with Blockchain, provide access anytime anywhere via personal mobile device and minimize time and cost for partners while maximizing customer experience. Verime vision is to become the leading unified decentralized VaaS platform in the Blockchain space and beyond.
Bringing a Change
Identity verification process has remained unchanged for last 40 years. With VeriME, Verime are bringing about a change by introducing blockchain based easy, fast and secure way of digital identity verification and authentication.
Making the Process Simpler and Safer
With Verime, you can complete the verification and authentication process from the comfort of your home. No excessive documents to make copy of, no documents to submit or go through.
Giving Consumers Peace of Mind
With Verime, you need not worry about your personal data falling into wrong hands. All copies of your personal details or documents present will be stored in an encrypted format and would never be shared with any third party, not even with Verime.
Achieving Highest Level of Authentication
Verime uses combined knowledge of Machine Learning, Blockchain, Cloud Computing and Artificial Intelligence to provide you the most accurate verification, greater than the accuracy achieved by traditional methods of humans.
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Pham Ngoc Tram Anh – PR Manager
Parag Arora – Block-chain Engineer
Ha Thu trang – Project coordinator
Sanjeev kumar – Co founder & chief strategist
Brenn Hill – Block-chain Engineer
Dang Tuan Anh – Product manager
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[su_quote]This article is writing on 21 May 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- 918077121282[su_quote]
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