deVere Group has launched a new Ident Me app, designed to provide a secure identity verification system and provide an alternative to traditional customer onboarding.
The app also provides access to a notary services function when required, a first for the international financial services and fintech sector.
According to the company, the app consists of a three step process. First, proof of identity. This is done by taking pictures of the front and back of an ID card or passport.
Second, the capture of documents. This is undertaken by taking a picture of a document with an address on it, for example, a utility bill or rental agreement. Third, the liveness test. A live self-taken photo to be verified against the ID/Passport photo.
Once this has been approved, clients gain access to deVere's suite of fintech apps.
This adds to the company's existing portfolio of fintech apps, including deVere Vault, a global e-money currency app and multi-currency prepaid card; deVere Crypto, a cryptocurrency app to store, transfer and exchange major cryptocurrencies, including Bitcoin; deVere Core, an app that allows clients to monitor their investments in real-time, on-the-go, keeping them informed with news and events that impact investor returns; and deVere Catalyst, a low-cost investment and savings app that offers best-in-class globally diversified funds.
The verification app was launched as fintech solutions are in increasing demand. As significant shifts take place around how we live, work and manage our finances, deVere Group CEO Nigel Green says the need for services such as Ident Me are higher than ever.
Green says, “We're in an exciting new world. In recent months, the future has happened faster. 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 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.
He says, “Against this backdrop of growing demand, we decided that we needed to make the set-up process of onboarding to use our fintech apps as quick, easy and secure as possible.
“Ident Me is a hassle-free, simple and safe way for clients to provide identity verification for themselves via a KYC (Know Your Client) form.” KYC is a financial services standard.
Green says, “We believe that everyone should have access to and reap the benefits of cutting-edge fintech. Ident Me, the first of its kind onboarding verification app, helps further democratise financial technology.
“Fintech is meeting growing demand for on-the-go service, it is speeding up the advance of global financial inclusion which helps social advancement around the world, plus costs are lowered and the client experience is enhanced.