KYC Trial
ID verification, commonly called KYC (i.e. Know Your Customer), is a procedure performed by companies to confirm the identity of their customers and prevent illegal activities such as money laundering or fraud, in return protecting both company and client.
With sideos, KYC becomes portable, since the verification can be done once and the resulting Verifiable Credential can be presented by users to any other service or company requesting it via SSI standards.
The company, in turn, does not need to store KYC data and can leverage the flexibility of sideos templates, should extra data be required.
See for yourself how this looks like, with our effortless KYC trial.
Steps
1.
First of all, you will need to verify your email address, so that we can send you the initial QR code and relevant info.
2.
Once the email has been confirmed, you will receive a QR code and links to download via email to initiate the KYC procedure:
- If this was a real world scenario this step wouldn’t happen via email: imagine the QR in a page of an app or a website, where users can scan it and start the process.
- Users (you in this case) are prompted to download Transponder mobile app or sideos Wallet extension to scan the QR code with.
- Alternatively, companies could allow users to do the procedure in their proprietary app, if they have integrated our SDK.
3.
Now you can start KYC procedure within the Transponder app or sideos Wallet extension.
- After scanning the first QR code, users will prove their identity through Idenfy.
- They will then receive a credential for KYC on the Transponder app or sideos Wallet and will be able to re-use it across websites.
4.
Go to demohotel.sideos.io to simulate a booking experience: scan sideos QR and use the credential you’ve just received via email.
- Business doesn’t need to store any credential or its data - except for the fact that KYC has been completed - but has validated customers’ identity.
- Users can provide the same VC to any complying website, ecommerce and such.
You have now completed the trial for verifying your ID information, and we would love to hear your feedback: if you feel like it, drop us an email at hello@sideos.io
Please be aware that if you encounter an error or cancel the procedure during the verification, or you delete the credential after the verification, you will need to re-start the trial from Step 1, including email verification.
If you have trouble with the process, please contact support@sideos.io
How it looks like
KYC procedures are aimed at improving the security of both businesses and their final users, and are used in a variety of industries and use cases: here’s one situation where sideos SSI KYC could simplify your business.
Hospitality reservations and check-in process
Hotels operating inside and outside of Europe won’t need to exchange guests’ info with the risk of incurring in GDPR fines, since it is the guest who carries their booking and check-in info directly at the hotel’s location. Plus, with the same credential, guests can benefit from simplified check-in procedures, without the need to re-share personal data.
And much more
There are plenty more cases, for example signing up to a car-sharing service or opening a bank account: we value the needs of our customers and their diverse requirements, and therefore we adapt solutions to your needs.
If you are not yet sure how your company could make the most out of sideos KYC, we would love to help you harness the power of SSI.
We value the needs of our customers and their diverse requirements.
No one is like the other and therefore we adapt solutions to your needs.
Book a free introductory call with us
Interested in a customized data management solution for your company? Our team is happy to discuss your options and find the best fit for your business needs.
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