Digital Onboarding and User Authentication
Applicant name: Xendity
Innovation Name: eKYC Digital Onboarding
Innovation Type: Product
Mission: eKYC Digital ID
Innovation Description: Never in the history of humanity has personal identifiable information (PII) is at most risk of theft and misuse. As the growth in the digital space connects us and draws us closer to one another, sadly, this has also created opportunities for hackers and identity thieves to make their move.
Xendity will accurately acquire, validate and store personal identity data into decentralized network. End users will have full control over the data, and only granting permission to companies who seek their information. Leveraging on blockchain technology also foster an environment of trust, and at the same time, reduce cost, time, resources.
Status of Innovation: In-market
Innovation Active Since: 02/24/2017
Applicant Type: Private Company
Headquarter City: Malaysia
Headquarter Country: Malaysia
Year Founded: 2017
Main Category Choice: Compliance Solution
Why do you think you should win this category?:
Xendity help your compliance team efficiently assess and process existing/new customers by streamlining their workflow and automating the screening and verification process even cross-referenced against international credit bureaus and watch list database.
We have partnered with one of the leading credit bureau to provide credit asssessment and verification as part of onboarding process.
With the recent technology enhancement of Machine Learning and Artificial Intelligence, Xendity is able to perform over 25 hologram check on Malaysian Identity Card and, currently working to meet the expectations/requirements of the regulatory sandbox with the central bank of Malaysia.
Xendity just recently passed the first stage of regulatory sandbox for our proprietary solution and now, is currently working towards the second stage where we customised our solution to each commercial banks’ product offering.
Secondary Category Choice: Remittances For Social Impact
Why do you think you should win this category?
According to Stratistics MRC, the Global Identity & Access Management market is estimated for $7.94 billion in 2016 and is expected to reach $20.87 billion by 2022.
Xendity aims to build the largest identity pool that will allow easy access to critical information in a highly protected platform, and we are offering you the opportunity to be part of this exciting revolution in PII management.
Xendity aims to create a performance-driven identity management system. Our team has remarkable ideas on how to integrate Blockchain technology into identity management system, to improve services and increase economic, environmental and social benefits.
Full Name: Vincent Wong
Full Name: Daniel Pacheco
Role: Product VP
Full Name: Jovial
Role: Associate Architect
Full Name: Kong Hon Phun
Role: Solutions Architect
Company Profile: https://drive.google.com/file/d/10WXDePUWJNZ9TRzY2-idHpm2_YROjshd/view
Hologram Verification Technical Documentation:
Singapore FinTech: https://directory.singaporefintech.org/directory/listing/xendity-ekyc-and-digital-identidy
Blockchain based eKYC company: https://medium.com/@xenchain/kyc-the-problems-it-creates-and-what-this-company-is-doing-about-it-1c2aed4c28d0
Full Name: Vincent Wong