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VeriMe cooperates with NextTech startups

Released at: 06:31, 08/09/2018

VeriMe cooperates with NextTech startups

Photo: NextTech Group

Deal signed for digital identity verification services based on blockchain platform.

by My Van

VeriMe signed a memorandum of understanding (MoU) on September 5 in Hanoi with Vietnamese startups Ngan Luong, MPOS, Weshop, and EGATE; all under the NextTech Group. 

They will cooperate in digital identity verification services based on the blockchain platform, simplifying the authentication process and making it seamless and secure using VeriME Authentication Solutions.

This as an initial step in building an ecosystem against the loss of confidential data and compliance with local data ownership requirements. VeriMe will continue to develop the application at a fast pace.

Mr. Nguyen Hoa Binh, Chairman of the NextTech Group, said that with VeriME’s flagship product - D-KYC - users can now verify their identity with service providers electronically. VeriME’s D-KYC and D-SECURE can both be utilized by customers and merchants for efficient digital authentication.

“VeriME is on a mission to increase transparency with blockchain, providing access anytime anywhere via personal mobile devices and minimizing time and cost for partners while maximizing the customer experience,” he said. “With growing issues such as terrorist financing, money laundering, identity theft, and other complications it is important to include such systems in place to avoid losses.”

VeriMe also launched D-KYC (Know Your Customer) at the ceremony.

D-KYC will be a backbone for financial institutions, insurance companies, and businesses in many other industries to eliminate inefficient and tedious processes and the risk of human error, while cutting time-consuming data collecting processes that negatively impact on the customer experience.

Transparency in blockchain systems results in easy, fast and clean up-to-date customer data. From a customer standpoint, the blockchain-enabled KYC process is helpful in reducing on-boarding wait times and eliminates the need to repeatedly provide the same information to service providers.

The new solution is also designed to comply and protect its clients from local data sovereignty requirements. VeriME is planning to launch their other key products - D-SECURE (a payment authentication and fraud management solution) and D-AUTH (a user authentication tool) - in the coming months. While the company’s initial plan is to roll out products in Vietnam as part of their soft launch, their solutions can now support businesses in more than 250+ countries and territories across the globe.

With VeriME’s D-SECURE solution, partners will be able to seamlessly authenticate customers during the purchase of goods and services, helping merchants and partners achieve seamless and secure authentication.

The solution, which allows authentication of VeriME users within seconds, will also minimize customer drop-off rates. It will not only authenticate the customer but also provide full chargeback / dispute protection to VeriME partners and their merchants.

VeriME’s products protect its partners and ensure their compliance with local regulations such as the prohibition on the transmission of confidential or sensitive information of an individual outside the country’s boundaries (also known as local data sovereignty laws).

Launched in early 2017, VeriME is a Singaporean fintech startup specializing in blockchain-based authentication solutions to facilitate easy and fast user authentication for banks, financial institutions, telcos, trading floors, and large merchants. It has partnered with more than 35 partners around the world, including more than 300,000 online retailers and their customers.

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