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Know Your Customer

is not only about credentials verification

THE PROBLEM

THE SOLUTION

Immutable anonymized credentials  

ONBOARDING COST

A typical bank onboarding process costs up to $4000 per new customer.

Goode Intelll

USERS ABANDON

The #1 reason why banking consumer abandon an online application is because it looks too long to complete

Financial Brand

KYC COSTS

The average financial organization spends $60m annually on basic KYC needs

Thomas Reuters

Glass of Milk

REUSABLE VERIFIED IDENTITY

When a new  account is opened, applicants identity and credentials are verified. This is a  long process  that users sometimes abandon  when they can't  see a direct benefit in going through it.  However, if a verified information is cryptographically secured and converted into an anonymised  proof and can be reused i.e. for accessing services part of the bank ecosystem or to validate the credibility of a profile, then the effort of submitting to verification process may be worthy.

TiiQu offers to Institutions, the ability to create a digital passport for their clients, where verified credentials are stored in the form of anonymized proofs that can't be changed or misused. 

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IMMUTABLE CREDENTIALS

Very often, Banks are asked to release attestations that prove a client's identity or address, or  that confirm  ability to afford a certain purchase, or to  repay a loan,  eligibility to access a  service.  Considerable processes are put in place  to guarantee clients' data protection. 

By using CERTiiF ,  Banks  decrease time consumed in issuing such credentials  and validate their veracity and validity when these are presented to third parties.  In fact cryptographcially secured proofs issued with CERTiiF do not expose data of clients, recipients can self-verify their veracity and  can be reused until expiration. 

CONTACT US

© 2021 TiiQu Limited