New technologies for identity management are making a splash in the fintech world.
Case in point: a press release this morning on the deVere Group firm showing off its new Ident Me technology with what it calls a ‘notary services function’ for verification.
“We’re in an exciting new world. In recent months, the future has happened faster,” said deVere Group CEO Nigel Green in a press statement. “There have been major shifts in the way we live, work, and manage our finances. “Much of this is being driven by digital technologies, and our financial lives are no exception. There’s soaring global demand for fintech [financial technology] and it’s clear it is going to become an increasingly dominant part of our lives moving forward. Indeed, fintech is already the ‘new normal’ as we increasingly insist on immediate, on-the-go, 24/7 access to, use and management of our money. We demand personalised, on-demand services and lower costs.”
As the company demonstrates, there’s a broad demand for Know Your Customer (KYC) and other identity management tools.
This new offering works through the process of aggregating key identity documents and keeping them in a manageable and portable system.
First, Ident Me captures documents, such as a passport or some other identifier, along with additional verification in the form of a utility bill, rental contract or other agreement.
Then the system performs what it calls a “liveliness test” by getting a live selfie to go along with these non-living documents.
All of that will promise to change the ways that we bring our identities to businesses, institutions and other stakeholders. While we’ve been hearing a lot about financial verification, identity verification is also important in a wide spectrum of deals and deVere hopes to be able to facilitate more agile authentication processes.
In addition, the deVere Group already maintains its own deVere Core system, a brokerage service for some of the new coins and technologies abundant in today’s blockchain world. Takea look at these kinds of new systems for a look at how blockchain is driving us forward and meeting fintech demand.
