If a potential customer has not yet been validated, a validator (e.g. financial/governmental institution or third-party validation service) can validate the required documents of the customer. Once successfully completed, the validator protects the authenticity of the results using V-ID's validation API and allowing the results to be re-used.
The documents are protected by storing the extracted unique fingerprint in one or multiple blockchains without compromising privacy or GDPR laws. Validated files can be checked and verified within 5 seconds using the drag-and-drop online interface. Validated files can be renamed and sent without losing its validated status. Only when the document is edited will the validated status be lost.
The customer or service provider now has validated documents that are approved by the validator. These validated files can be used to fast-track the KYC process at other firms; After a 5-second verification check, the new firm can assume authenticity and accept the document(s) and thereby reduce time and costs spent.
An organisation can be both a validator (i.e. seller, when a client’s data has not been validated yet by another trusted organisation) and/or a verifier (i.e. buyer, when a client has already been validated by another trusted organisation).
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