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UNIFID is a blockchain based platform for individuals and institutions issuing Digital ID's - Decentralised Identity (DID) and Verified Credentials (VC). These will simplify sharing identity information with service providers instantly, without compromising security and privacy.
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UNIFID enables companies to streamline their customer on-boarding exercise by removing time consuming manual checks and the need for paper work. The UNIFID solution allow users to submit verified credentials during the on-boarding process which gives our clients the ability to conduct faster on-boarding of users and improve overall user experience.
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Financial services incur significant costs to comply with KYC requirements.
VC’s offer a secure instant assessment of identity reducing the cost and time; UNIFID continuous validations ensure alignment with compliance.
Traditional company verification procedures are complex, expensive and time consuming.
UNIFID platform simplifies working with new business partners by simplifying the due diligence process.
Trade compliance, an important element of international trade, which often faces delays due to robust verifications required for compliance.
Verified Credentials offers the solution to meet increasing regulatory demands.
Qualifications represented through Certificates, leads to world of opportunities; but they often have least security controls.
Certificates issued as Verified Credentials offers implicit security and validation.
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Banking
DID’s with their uniqueness, persistent and secure characteristics offers the banking industry to address ID, KYC and AML challenges.
Lending
Identity correlation is vital in lending industry to control over-borrowing and defaults. DID’s enable MFI's to mitigate bad loans.
Telecoms
Telcos face significant challenges with Identity fraud to control misuse of critical services. DID’s offer the solution to reduce ID fraud.
Remittance
Digital remittance, peer-peer models are replacing tradition money transfer services. DID’s forms the backbone of future remittances.
Fintech
Fintech’s are rapidly changing FS landscape; the services are centered on KYC. DID’s will provide the required speed and agility.
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Decentralised Identity puts the users in control of their identity less the institutions. Cryptography leads identity decentralisation, enabling trust between various parties as in the illustration. Users (Holders) through their secure identity wallet can control what they share and to who they share their data.
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What is UNIFID?
What is Decentralised Identity/Identifier (DID)?
DID’s enable interoperable decentralized Self-Sovereign Identity management.
DID’s are associated with exactly one interaction, avoiding correlation and ensuring individuals privacy, much needed in the current internet domain times.