Shfuti Pro Partners With Swiss ALPS

Swiss Alps Mining partners with Shufti Pro for KYC & AML Compliance

(Bath, United Kingdom – July 16th, 2018) Swiss Alps Mining has partnered with Shufti Pro to avail KYC & AML Compliance services for ICO of its crypto token. A switzerland based blockchain startup, Swiss Alps Mining is a cryptocurrency mining plantation that optimizes electricity consumption in the coin mining process such as Bitcoin, Ethereum, Zcash and Dash.

In order to raise funds for future expansion and product development, Swiss Alps Mining decided to launch a cryptocurrency by the name of Sam. The funds raised in the ICO will be used to finance the development and expansion of the mining facilities and to acquire holdings in hydropower plants. The SAM token is an ERC20 token. It can be used as means of payment within the SAE mining and service universe and will be tradable outside the SAM platform on all relevant exchanges.

In a bid to verify the identity of its investors and to mitigate any financial crime risk posed against its ICO, SAM turned towards Shufti Pro. The swiss startup was impressed by end-to-end ID verification services provided by Shufti Pro. KYC and AML Compliance from Shufti Pro fulfilled all the professional demands of SAM, something that was crucial for the swiss startup. CEO of Shufti Pro, Mr. Victor Fredung had this to say about the joint collaboration between the 2 companies

“Shufti Pro put genuine efforts in understanding the individual needs and demands of Swiss Alps Mining. It was crucial for us to deliver top notch KYC and AML compliance services to make their future venture a success story.”

Shufti Pro’s industry best processing time of 30-60 seconds to perform identity verification ensured a robust customer onboarding process for Swiss Alps Mining. AML compliance from Shufti Pro made sure that the investors showing interest in ICO of Sam were not red flagged by national, regional or international watchdogs. This was made possible with the help of Shufti Pro’s large databank that contains information from 1000 watchlists, sanctions list and Politically Exposed Persons. In addition to that, Shufti Pro performs background checks from 3000 databases maintained by financial law enforcement agencies from around the globe.

SAM was targeting to achieve a global success for its ICO and this also became a vital aspect in selection of Shufti Pro as the verification partner of SAM. Shufti Pro has a global language support which means that documents printed in every language of the world can be verified by Shufti Pro.

Both SAM and Shufti Pro look forward to a mutually beneficial relationship, creating a more vibrant atmosphere for blockchain technologies.

About Shufti Pro

Shufti Pro is an emerging name in verification services and KYC/AML. It was founded on 31st October, 2016 in Bath, UK. The goal of the company is to enable its clients with seamless customer experience, fraud prevention and undeterred revenue generation. The company offers state of the art SaaS, which engages Artificial Intelligence and Human Intelligence. Businesses can now conduct easy digital verification processes with lesser friction and more advanced technology. Currently offering its services for all countries of the world along with Universal Language Support, the company is located in United Kingdom with its global office in Sweden.

Please visit Shufti Pro here.

Shufti Pro Limited

info@shuftipro.com

Unit C401, Westfield Shopping Centre,

Ariel Way, London, W12 7FD

About Swiss Alps Mining AG

Swiss Alps Energy AG (SAE) is Swiss Alps Mining & Energy’s operating business. SAE is a Swiss startup company in the area of crypto mining and energy, located in Huenenberg, Canton of Zug. SAE plans to start operating crypto mining farms in the Swiss alps in 2018 – a pioneering project. These farms are situated in buildings no longer used by local farmers. SAE will at the same time operate small hydropower plants to produce the electricity needed for crypto mining.

money operators kyc aml

Benefits of KYC services for Money Services Operators

Money service operators are at the forefront of international financial system as they help with the transfer of funds from one currency into another and from one territory to another. With international monetary regime adopting strict regulatory measures, KYC services are being sorted out by major money services operators to safeguard against  any substantially huge penalties. Customers utilising the services from money service operators are subjected to new procedures in which they are being asked to provide their identity documents in order to ensure that international trade of funds is not being hijacked by financial criminals. Financial channels used by money services operators are being verified to discourage the use of these channels for money laundering or any other monetary crime.

Hazards for Money Services Operators

With conventional means of international banking requiring detailed background checks and formal documentations, money services operators have been traditionally considered a more convenient option either for receiving remittances from foreign countries or for exchanging local currencies into international currencies or vice versa. But the basic operation of money service operators is also parallelled by traditional and shaddy money transfer services like Hawala and Hundi.

Authorities and financial regulators are always watchful regarding the business of money services operators because sometimes, even the lower management of such organizations is found involved in illegal transfer of funds using not the official channels to transmit funds but the aforementioned illegal routes of money transfer.

Recently, money services operators are also becoming the focal entities to get paid for virtual currencies. Lot of investors and cryptocurrency enthusiasts have cashed out their virtual assets using money services operators as the regulatory parameters on these Money Services Operators are relatively lenient as compared to conventional financial and banking organizations. This also creates an immediate need on part of Money services operators to introduce much more vigilant KYC operations in order to ensure that their services are not being used by online bandits to launder money or perform terror funding. There is also a great chance that financial regulators might also clamp down on Money services operators that are currently handing out money to customers in exchange for virtual currencies without performing due diligence or without collecting verifiable credentials from these customers. It can be said without any shred of doubt that only the Money Services Operators that have functional KYC services implemented, especially for transactioning funds for virtual currencies will be secure from huge regulatory fines that are inevitable in near future.

KYC services for Money Services Operators

Shufti Pro is a unique Identity verification SaaS product that has combined the virtues of Artificial Intelligence and Human Intelligence. Money service operators from around the globe can easily utilise KYC services from Shufti Pro as its machine learning algorithms will safeguard them from huge regulatory fines. With an ability to verify identity documents from any part of the globe and published in any language of the world, Shufti Pro becomes the ultimate tool in the hands of money service operators.

Customer due diligence can be performed in real time as Shufti Pro takes 30-60 seconds to verify identity documents. Transactions received from any part of the world can be validated by KYC services of Shufti Pro.

Shufti Pro is easily integratable with pre-existing systems and applications and there is no need for third party plugins. It means that there is hardly going to be any downtime to integrate Shufti Pro with already present transactional modules of money service operators. As a PCI compliant solution, security of data is of no concern with Shufti Pro and GDPR compliance will make sure that the personal data of users is safe for auditing, in case financial regulators come knocking up. KYC services from Shufti Pro are a perfect choice for money service operators who understand the value of customer due diligence and want to conduct a responsible money operations in their designated territories.

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Digital Kyc Services

Howdoo and Shufti Pro enters into partnership for Digital KYC Services

BATH, UK – (July 4, 2018) – Shufti Pro will be partnering up with Howdoo to provide Digital KYC services that will help the social media platform with efficient customer onboarding and validation of credentials provided by future users.

Shufti Pro is an Artificial & Human Intelligence based end-to-end Identity verification SaaS product. A GDPR and PCI compliant solution, Shufti Pro strives to provide flawless digital KYC services and AML Compliance to a worldwide audience. Howdoo, on the other hand, is a blockchain based social platform providing users with a unique opportunity to take control of their social media content. Howdoo envisioned to bring together a community of global users for better content, smarter communication and enhanced security of data. In order to ensure that access to their highly secure social media platform is not breached by scammers or users with fake identities, Howdoo turned to Shufti Pro.

But even before settling down with Shufti Pro, Howdoo executives made sure to conduct thorough market research. They needed to find Digital KYC services from a company that understood what it takes to secure the interests of users. A company that realises the prowess of blockchain and how it can be utilised in creating a feature-rich social platform like Howdoo. Shufti Pro’s passion to create an online marketplace without a shred of fraud and scam really hit the right note with Howdoo management.

CEO of Shufti Pro, Mr. Victor Fredung highlighted the importance of this collaboration among two tech companies in following words:

“Digital KYC services from Shufti Pro are perfect match to user-centric platform like Howdoo. Our entire team at Shufti Pro is very excited to work with a professional organization like Howdoo and we are hopeful that this will be beginning of a mutually beneficial relationship that will bring lot of opportunities for both companies to learn from each other. Our industry best time of processing an official document in 30-60 seconds will surely streamline the customer onboarding process for Howdoo”

One of the major aspects of partnership between Howdoo and Shufti Pro is the global outreach of this smart verification product, as well as the ability of Shufti Pro to verify official documents in every language of the world. It means that Howdoo will be able to register developers, content creators and advertisers from all over the globe using Digital KYC services from Shufti Pro. As a platform that has the ambition of truly going past traditional barriers of physical borders, this feature of Shufti Pro was truly exciting for Howdoo

__________

About Shufti Pro

Shufti Pro is an emerging name in identity management and KYC/AML. It was founded on 31st October, 2016 in Bath, UK. The goal of the company is to enable its clients with seamless customer experience, fraud prevention and undeterred revenue generation. The company offers state of the art SaaS, which engages Artificial Intelligence and Human Intelligence. Businesses can now conduct easy digital verification processes with lesser friction and more advanced technology. Currently offering its services for all countries of the world along with Universal Language Support, the company is located in United Kingdom with its global office in Sweden. Please visit Shufti Pro here.

Shufti Pro Limited

info@shuftipro.com

Unit C401, Westfield Shopping Centre,

Ariel Way, London, W12 7FD

About Howdoo

Howdoo is a new age social media platform developed by utilising the Ethereum blockchain. Not only content creators are invited to showcase their individualistic content on Howdoo but the makers of this exciting platform have also arranged for smooth revenue stream for these creators. Innovative collaboration, secure communication and traceable content are going to be cornerstone of  Howdoo.

Multi Level Marketing

Marketing Firms embracing KYC Services for Better service Delivery

 

Browsing through your Facebook newsfeed and you come across one of ‘Those’ friends – “Hey People, i am a ‘footforce’ in a company, selling some overpriced and overly bragged products”.

Next you see your friend, claiming the product to be the best that there is to ever buy. In most instances, the so called ‘friend’ referred above, would be a part of an MLM- Multi Level Marketing team in a company  We have now continuously seen this happening, through social media marketing or via tv commercials. Today, the thought of coming across an MLM firm not complying to KYC/AML regulations is frightening, when legal stakes are so high. Likewise, the lack of Know Your Customer procedures opens ways for potential malpractices and scams to occur with an MLM implementing company.

Understanding MLM | Multi Level Marketing – Operations

MLM is a marketing strategy for a product or service by independent representatives who sell goods to potential customers through a direct sales approach. An MLM company also mobilizes large amount of monetary funds, in the form of bank deposits from the public in exchange for high returns and promises.   

Multi level marketing is also referred to as network marketing, which consists of a pyramid tier hierarchy level. MLM is mostly referred to as when there are two or more hierarchy branches involved. Additionally in the concept, MLM involves the privilege of each representative to recruit and train additional representative under themselves and form a hierarchical chain of command in a way – referred to as a downline.  

Representatives within a downline earn a commission from the reps sales that they recruited. Additionally, Income earned in MLM comes from the commission earned on personal sales within a downline, as well as a percentage of the sales earned by other reps recruited by a distributor(representative) directly above you.

Where MLM Exhibits Vulnerabilities

As any other company, even an MLM one is not safe from all vulnerabilities. Each company has its own shortcomings and in the case of the MLM companies, it is – Distributor/End Sales People/Recruits.

A fundamental aspect of an MLM scheme is its state of regular hiring, done by distributors and sub-distributors – depending on the stages in MLM hierarchy. This aspect of hiring individuals on a consistent basis, opens a potential vacuum of exploitation by potential fraudsters. This threat is further extended as individuals recruited by MLM companies turn out to be fraud.
There are legit MLM companies operating as well. The nature of operation in direct sales is unforgiving and financially unsatisfying for distributors and lower tier sales person – who end up leaving and running away. This causes even higher losses to a company, while continuing the hiring cycle.

What’s important to realise is that a scheme such as an MLM does not offer long term value or consistency. Making money by signing up new members, who make money by signing up new members is not a business plan that offers job security.

MLM Companies – in Light of Identity Verification

MLM schemes and companies conducting MLM are filled with complexities of their own such as integrated hierarchy structures, direct sale payments, commissions and referral percentages. MLM’s can be and are chaotic, where an Identity Verification Service Provider can mitigate most, if not all problems.    

Companies tend to miss out on a crucial aspect when implementing an MLM scheme, KYC – ‘Know Your Customer’.

An Identity Verification company can help verify an Individual’s identity in a transparent manner and establish a better and improved customer identification program for the implementing company. The likelihood of hiring done through this process can ensure individuals are hired quickly and stay on board with a company longer, through improved customer profiling.

In addition to customer profiling, a dedicated KYC provider can also provide Risk Assessment through dedicated background checks in combination with Identity Verification. This creates an added score of judgement for companies to base their hirings on and predict, which potential people are likely to commit fraud through illicit activities.

This is where a third party service provider will facilitate a large MLM company, or any other firm implementing an MLM scheme.

How MLM Companies Benefit From KYC Services

Almost all MLM’s involve excessive marketing, field work and verbal marketing. The greatest risk involved, is the risk that it exposes itself to a regular hiring process. Most of the smaller salesperson and distributors are unknown to the scheme implementing company.

In order to validate an individual’s Identity and ensure security to not only the company but also to the lower tier salesperson and distributors, Shufti Pro lends a dependable arm by being a reliable KYC and AML operator. Shufti Pro can facilitate MLM implementing companies, by providing all identity and document verification services under a greater Identity Management Suite.

For either seasoned or new MLM implementing companies, a dedicated KYC platform like Shufti Pro offers effective real-time processing for Identity verification. This helps save valuable time in the process with quicker distributor/recruiter on-boarding time. KYC services from a versatile system like Shufti Pro would be an adequate fit, providing a scalable solution with maximum usability of the internet for enhanced customer facilitation. Shufti Pro will verify identities by having the customers to face a camera and then show an ID documentation, focusing in on the Picture, DOB, Name and Proof of Address(if applicable).

The AI technology will identify any potential shortcomings in documents or facial mismatch and will display results accordingly. Thus, reducing the chances of fraud taking place inside MLM companies. 

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kyc solutions for crypto currency shufti pro

Why KYC Solutions are becoming a norm in Cryptocurrency?

KYC Solutions provide a great opportunity for crypto exchanges and virtual currency enthusiasts to earn credibility and legitimate status. These kinds of solutions are rapidly becoming important tools to regulate the cryptocurrency space. With virtual currency becoming host to billions of dollars in investments from a diverse range of sources, it is becoming more and more binding on the regulators and the crypto enthusiasts to adopt strategies and business methods that invite greater trust over the entire operating mechanism of cryptocurrencies. Some traditionalists believe that KYC Solutions tend to undermine the basic philosophy behind virtual currencies that is least regulations and better anonymity in financial sector. However, if cryptocurrencies and crypto exchanges resist such regulatory moves, it will be very hard to get international recognition for this blockchain based financial system. In order to earn legitimate status and witness a continuous boom in the fortunes of virtual currency floaters, KYC Solutions are a must have.

KYC solutions are not some artificial tools that undermine the functional aspects of virtual currencies or crypto exchanges but they will ensure greater transparency and will help to eradicate inherent financial risk attached with cryptocurrencies. As every cryptocurrency enthusiast is aware of the fact that the anonymity of virtual currencies is leading criminal elements from all over the globe, to use this virtual financial system to conduct money laundering activities in addition to risks of terror funding. Efficient and trustworthy KYC solutions help to solve the puzzle of anonymity in virtual currencies without compromising on the technological aspects of this state of the art financial phenomenon.

KYC Solutions and Territorial Borders

Each regulator and nation state follow a unique economic system and each respond differently to the anonymity of cryptocurrencies. Some regulators demand greater checks on crypto exchanges while others have a liberal standing towards crypto exchanges and virtual currencies. But as more and more cases are coming out where crypto exchanges or even regular banking institutions have been found as accomplice to money laundering and terror financing activities carried out by virtual bandits, the most liberal regulators have ordered crypto exchanges to mend their operations by introducing measures that encourage greater transparency.

KYC Solutions are considered to be the best means to the achieve the goal of greater transparency but the demand of KYC differs from country to country and regulator to regulator. As you know that major crypto exchanges have a global market outreach. It means that people from different countries can be trading virtual currencies using the services of a crypto exchange. Regulators are not much concerned in trading or buying/selling of any particular cryptocurrency. They demand from crypto exchanges to install KYC Solutions that don’t only collect personal information of users from authentic documents but that also verify those credentials. Regulators are forcing crypto exchanges to perform these KYC procedures long before a person starts trading on these exchanges. It means that customer onboarding process can be compromised because of not-so-efficient KYC solutions. Users don’t like to wait for hours, if not days, to get their credentials validated before they start trading. So there is always a risk of losing customers in order to comply with  regulators’ demands for greater KYC compliance.

Greater Productivity With Efficient KYC Solutions

With increasing pressures from international financial watchdogs and greater zeal to counter money laundering activities and terror financing, regulators are either forcing crypto exchanges or will start tightening regulations in coming months that will drive crypto exchanges to install more proactive Digital KYC solutions.

Shufti Pro is an ideal solution for crypto exchanges that are in need of fast yet efficient KYC Solutions. This artificial intelligence KYC Solution can verify identity documents issued by every country of the globe. This smart KYC solution can read documents in every language of the world which is just perfect for crypto exchanges whose business model encourages a global client base. Each verification and credential is verified within 30-60 seconds processing time by Shufti Pro which is just perfect for crypto exchanges and their customers who don’t want to waste unnecessary time on verification of identity documents. So with a changing world order that favours KYC solutions, Shufti Pro is perfect choice for crypto exchanges and virtual currency enthusiasts. It has already been used by several world renowned exchanges to verify the identity of their future users.

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Ipo Digital Kyc

Why have IPOs started Implementing Digital KYC?

Have you heard the phrase “I’m afraid we have to go public Mark”, well then you are on right page to understand, that is a time and position when companies face the public.

For most Chief Financial Officers, this is a daunting and nerve wracking period. Directing and organising an initial public offering can be the most stressful yet rewarding tasks they would ever undertake. How they execute their plan, arrange people, market and strategise, will define their success. Once an IPO closes, CFOs quickly implement the process of executing the post IPO business plan. An aspect under cloak, is the performing of Digital KYC procedures on investors for secure customer on-boarding.

Understanding IPOs

At its core, an Initial public offering is where a previously unlisted company sells new or existing shares (securities) of itself to the general public for the very first time. Prior to an IPO, a company is thought to be private, with limited investors and small number of high profile investors. Whereas, after an IPO, the company becomes publicly listed and recognised on a stock exchange.    

Reasons Behind Carrying out an IPO

Reasons to go public can be one and many, varying from company to company but mostly reasons ought to be quite straight forward. For companies, it’s simply a money making move. Normally companies go public when they require more liquidity at hand and increase capital on hand by selling shares publicly. The money that is collected is then later reinvested for business expansion and business infrastructure upgrade, or meeting targets according to future growth plans.

Additionally, when a company goes public, it is in a way advertising itself. The larger the firm the greater chances of it attracting top candidates globally, to be part of their stock ownership plan.
On another note, going public enables companies to utilize stock options as a part of their merger or acquisition deals with other companies in acceptance as payment.  

There’s also prestige, for some companies its a great deal on bragging rights to be listed on major stock exchanges of the world – like the NYSE, Nasdaq, LSE or JPX.

IPO’s and Third Party KYC/AML Service Providers

Initial Public Offering is a long, tedious and a complicated process in undertaking for any company CFO’s and managers conducting the IPO. While the general idea is to raise money, most companies tend to miss out on a crucial aspect in the Pre-IPO process – KYC – ‘Know Your Customer’.

Unlike ICO’s which are non-regulated, the process of an IPO is fairly intricate and complex. Companies and managers are occupied with consistent backlog of government and legal paperwork, tax amendments, procedural updates and long business documents that Knowing your customer becomes a second priority.

This is where third party service providers come in play and facilitate large companies in their IPO processes and provide them Digital KYC services, to secure their investments by ensuring the purchases of stocks are made by legitimate and authentic entities.

Voice of Independent Regulatory Bodies

International Regulatory bodies, like The Securities and Futures Commission (SFC) express directives that generally direct the adequate involvement of placing KYC procedures. For Investors, placing agents and fund managers need to oversee in respect to the Code of Conduct.  

 

  • Take all reasonable steps to establish the true and full identity of each of its clients, and of each client’s financial situation, investment experience, and investment objectives
  • Be satisfied on reasonable grounds about the identity, address and contact details of:
    1. The person or entity (legal or otherwise) ultimately responsible for originating the instruction in relation to a transaction; and
    2. The person or entity (legal or otherwise) that stands to gain the commercial or economic benefit of the transaction and / or bear its commercial or economic risk.

Prefered Choice of IPO for Digital KYC

Most IPOs that happen, involve time, money and risk. The largest of all, is the risk that it exposes itself to a pool of potentially global clients, that are waiting to invest and buy shares to increase the liquidity of a company. Most of these smaller clients, single investors are unknown to the offering company.

In order to validate an individual’s Identity and ensure security to not only the company but also the IPO sale as well, Shufti Pro lends a dependable arm by being a reliable Digital KYC and AML operator. Shufti Pro facilitates IPOs in providing all identity and document verification services under a greater Identity Management Suite. In specific, when a potential contributor or investor comes forward, Shufti Pro possesses the required procedures of CDD – Customer Due Diligence and EDD – Enhanced Due Diligence in place, as a part of it’s greater KYC narrative.

For small or high stake companies undergoing an IPO,  a dedicated KYC platform like Shufti Pro offers quick real-time processing for Identity verification – saving valuable time in the process and quicker investor on-boarding. A versatile system like Shufti Pro is an adequate fit, providing a scalable solution with maximum usability of the internet for enhanced customer facilitation. Shufti Pro will verify identities by requesting the customers to face a camera and then show an ID documentation, focusing in on the Picture, DOB, Name and Proof of Address(if applicable).

The AI technology will identify any potential shortcomings in documents or facial mismatch and display results accordingly. Thus, reducing the chances of fraud taking place with IPOs, by minimising the accessibility to only authentic identities with valid documents to be worthy enough to participate in the IPO.   

Accepting Inevitables

Fraud posses a universal threat to all global institutions, whether they may be financial or major companies undergoing an IPO. In a process that puts its stock image and financial presence in jeopardy, the likelihood of fraud is an imminent cloud atop firms and companies alike. A dedicated Digital KYC platform can drastically help mitigate risks and ensure that a company’s IPO process executes smoothly with added legitimacy of investors, along with being ‘All Clear’ with international Regulatory authorities.

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Digital Kyc Services

How Real ID Act enables Digital KYC Services for US Customers?

Digital KYC Services for US based customers are in debt of Real ID Act as it streamlined the process of issuance of identity verification documents. Real ID Act was able to introduce basic standards to assist US States when they issue a driving license to their citizen or any other relevant identity verification document. 9/11 was a big influencer in the introduction of this act as the commission made for investigation of the catastrophe gave the suggestion to introduce a uniform system of issuing IDs to citizen. They suggested a federal legislation that will not be binding on the states to follow but will serve as fundamental groundwork to establish verifiable documents for the citizens of United States.

Why Real ID Act was needed?

Before the introduction of Real ID act in 2005, there were stark differences among driving licenses and other IDs issued by states to their citizens. Some of them used sophisticated method to discourage identity theft and fraudulent activities while others used outdated techniques to issue same documents. This created a haphazard ID regime which was not only inefficient but also created financial and criminal loopholes. Although, introduced before Digital KYC services became all the rage but Real ID Act also enabled businesses and companies to ascertain the identity and credentials of their customers.

What does Real ID Act entail?

The intention of Real ID Act was very simple: Stop the practice of making secure yet fraudulent IDs and driving licenses. In hindsight, this is the intention of Digital KYC Services as well. Real ID Act wants states to adopt technologies and practices that eventually lead to issuance of secure identity documents. According to the legislation, a standard ID must have following characteristics:

  • It must be machine-readable
  • Must include 2-D barcode

Within that bar code, following information must be stored

  • Expiration Date of document
  • Full Legal Name of document holder
  • Data of transaction
  • Data of Birth of document holder
  • Gender of document holder
  • Address of document holder
  • Unique driver’s license or Identification card number (whichever is applicable)
  • Card Design Revision Date
  • Inventory control number of physical document
  • Name of state or territory that has issued the document

Now as you can see, an identification document containing all this data will be sufficient to verify the identity of a person. In order to ensure the credibility of the document itself, the machine readable nature and 2-D barcode are satisfactory.

In order to further fortify the security of these identity documents, there are other measures suggested to be made part of these documents that will hinder tampering of documents, production of counterfeits or for duplication of genuine documents.

KYC Services Supported by Real ID Act

Although, there are many states who are yet to fully comply with Real ID Act, but the overall response to the process has streamlined the way for Digital KYC services. With machine readable driving licenses and 2-D barcode carrying  vital information, each customer can be verified against the credential that they have entered while making an online purchase or for opening a bank account.

The rate of online fraud and the risk of online identity theft has also reduced substantially because of Real ID Act as not only the law enforcement agencies have been able to identify personnel through a unified system of identity verifying documents but Digital KYC services providers have been able to verify the real identity of a user because of technologically advanced documents. This act has enabled Digital KYC services to verify following:

  • Identity of an Individual
  • Age of an Individual
  • Address of an Individual

So, to put it in nutshell, Real ID Act has assisted companies like Shufti Pro to provide seamless identity verification services for US based businesses. It is one of the finest examples of real world legislations supporting the technological world in order to ensure transparency and ease of business. Because of Real ID Act, technologically advanced identity documents are now issued in US States that can be verified by Shufti Pro in 30-60 seconds with 100% accuracy.

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