Verification process

March 8, 2024

Introduction to the Identity Verification Process (KYC)

The Identity Verification Process (KYC, which stands for Know Your Customer) ensures the authenticity and integrity of the information provided by individuals. Through humanity tests, performed with NFC or OCR technology, we ensure that behind every digital identity there is a real person, promoting a safe and reliable environment for business interactions.

This process also complies with major global regulations to prevent fraud and money laundering. By verifying the identity of our users, Didit lays the foundation for trustful relationships and secure transactions in the digital realm.

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Types of Verification

At Didit, you will find three types of validations:

  • NFC (Near Field Communications): A short-range communication technology that allows the reading and decryption of official data stored in government-issued document chips, such as ID cards or passports. It represents the most advanced and secure solution in the market for identity authentication, enabling quick and protected operations without physical contact.
  • OCR (Optical Character Recognition): A technology that converts various types of official documents. This technique optimizes the management of digital identities and document verification without the need for manual entry.
  • One-click Didit Sharing: A feature that allows users to share their verified digital identity with a single click, eliminating the need to repeat verification processes in future interactions or services. This approach promotes a seamless and secure user experience while ensuring the integrity and privacy of the shared information.

Verification Status

The verification process can go through different stages, represented in the attached image. Let's delve a bit into what each of these statuses means.

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  • Not started - The person to be verified has not started the process.
  • Abandoned - The person to be verified has abandoned the process.
  • In progress - The verification is in process.
  • In review - The verification is under review.
  • Declined - The person has not passed the verification process.
  • Expired - The verification has expired. The user must repeat the process.
  • Approved - The person has successfully passed the verification process.

Organizations can invite individuals interested in interacting with them to complete the validation process at any time.

The Impact of Verified Identities

  • 1
    Strengthening Authentic Relationships: The certainty of interacting with real individuals rather than bots encourages the building of more genuine and humanized bonds. This approach ensures that interactions within the platform are authentically personal, significantly improving the quality of business and user relationships.
  • 2
    Minimizing Fraud Risk: Implementing verified identities drastically reduces the likelihood of fraudulent activities. By ensuring that each user is who they claim to be, organizations can operate in a safer and more reliable digital environment, mitigating potential financial and reputational threats.
  • 3
    Facilitating Regulatory Compliance: The ability to document and download validations in PDF format simplifies compliance with regulations. This functionality allows organizations to efficiently manage their regulatory requirements, ensuring complete and accessible traceability of identity verifications.
  • 4
    Access to Documents: Once individuals have verified their identity and passed the KYC process, organizations can access and download the accreditation documents of such validation, as well as view the verification ratios in each case.
  • 5
    Improved Operational Efficiency: Working with verified identities automates and speeds up processes that traditionally required a significant investment of time and resources. The reduction of the need for manual verifications not only optimizes operations but also improves the user experience, allowing quicker and smoother access to the services offered.
  • 6
    Increasing Trust in the Digital Ecosystem: Certifying identities contributes to the creation of a safer and more transparent digital environment. By promoting the truthfulness and reliability of identities, organizations can significantly increase users' trust in their platforms, which is essential for the growth and long-term sustainability of any digital initiative.
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Have more questions? Contact support at hello@didit.me, and our specialists will answer your queries.

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