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News Signzy introduces One-Touch KYC

March 28, 2024

3 minutes read

Digital onboarding infrastructure provider Signzy has announced the launch of a new product feature, One-Touch Know Your Customer (KYC).

Through the introduction of the additional feature, Signzy aims to simplify the whole KYC process for users and businesses. The One-Touch KYC intends to enhance the efficiency of the user experience and the accuracy of results to increase customer conversions for previously slow and complex processes. Additionally, business teams receive the ability to customise their KYC flow, make UI choices, as well as launch to onboard users from more than 180 countries. This is set to provide individuals with a simplified manner for verifying their identity while meeting regulatory requirements.

Signzy’s One-Touch KYC capabilities and objectives

According to Signzy’s officials, the KYC market is seeing an increase in demand due to the rise in identity fraud across the world. With the newly added feature, offered to current and future clients, the company plans to provide them with accelerated turnaround times and an efficient identity checkpoint. As per the information detailed in the press release, One-Touch KYC targets several expanding industries, including the gig economy, online gaming, financial services, rental apps, and retail companies. Considering that the complete KYC configuration lifecycle tends to be time-consuming for the company and users, Signzy’s feature focuses on allowing businesses to customise and integrate their KYC conveniently within a simplified minimum configuration process.

Product managers can select and arrange the KYC flow from the predefined fields based on their specific use case while integrating the company’s brand. With Optical Character Recognition (OCR) and liveness detection checks, clients can reduce deep fake fraudsters more efficiently. Moreover, these capabilities support clients in improving the user experience through intuitive UI and real-time feedback which simplifies the overall KYC process for users.

Signzy’s development strategy and past announcements

The launch of One-Touch KYC follows Signzy’s recent partnerships with Verified Inc. and NayaOne, which aimed to enhance onboarding capabilities and advance the company’s development strategy. The alliance with Verified Inc. allowed Signzy to leverage and provide digital identity services to simplify the process for end users. Following a year of expansion, the partnership supports Signzy’s commitment to enhancing the end-user experience while increasing benefits.

Furthermore, the collaboration with NayaOne, a tech marketplace with access to more than 400 fintech vendors and a Sandbox-as-a-Service provider for banks and financial institutions, focused on improving digital Identity Verification (IDV) by providing a global and integrated solution for addressing difficulties. By working together, the two companies intended to enable financial institutions to simplify user verification across several use cases on a unified platform across over 200 countries and jurisdictions. The partnership leveraged Signzy’s AI-powered solution with global IDV to minimise time and costs associated with customer onboarding while supporting the expansion of conversion rates and enhancing overall productivity.

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