"KY" Who? Discovering beyond KYC.

On February 2021, Techsign has announced Prove ID digital identity verification and management platform. This solution, which has been demanded primarily by financial institutions since then, is now taking action to take online verification one step further.

Know Your Customer (KYC) covers the process of verifying individual customers in the digital environment. This process, framed by the regulators, includes modules such as identity and document verification, biometric matching, secure consent collection and agent call. In the past few months, many institutions have implemented KYC, especially in the digital customer acquisition process, and more institutions are actively working on this issue as part of their digitalization strategy. What awaits us as the next step of this massive transformation journey is the verification of all individual and institutional parties beyond customers.

Healthcare organizations need to know their patients so they can reliably deliver telemedicine and prevent prescription fraud. Gig economy companies often need to verify their drivers as well as customers as a matter of trust and safety. Online dating sites increasingly have to verify the identities and ages of their users in order to protect them from harm and online fraud. And even financial institutions want to “know your transactions” to ensure they’re taking every precaution to detect trends that may indicate money laundering.

In fact, it’s hard to think of any modern enterprise that isn’t seeking a higher assurance related to the identity of their online customers, given the sharp rise in new account fraud, identity theft and account takeovers.

As Techsign, our mission for the upcoming period is to make patients, workplaces, drivers, students, virtual event participants and many more parties securely verifiable in the digital environment, as well as customers. We are dedicated to take ID verification to the next level by building on-demand identity proofing on top of an easily customizable infrastructure.

Follow @techsigninc to learn more about our innovations in the identity space.