A New Paradigm for KYC Compliance
Know your counterparty ("KYC") is a business process workflow used to identify and verify individuals or organizations to comply with regulatory rules. This process involves a lot of costly and time-consuming manual verification, leading to operational inefficiencies and poor user experience.
Built vertically on top of ProximaX's blockchain-powered digital identity platform named SiriusID, the SiriusKYC app improves KYC workflows through real-time and zero-knowledge proof KYC verification (minimal or no disclosure of personally identifiable information).
Termed "self-sovereign KYC", individuals and organizations can own and control their online digital identity and KYC data, creating a new paradigm for KYC compliance.
Introductory Paper
Key Features of SiriusKYC
Digital identity ownership
Instantly verifiable KYC claims
Control over KYC data disclosure
Zero-knowledge proof KYC verification
Automated regulatory compliance using Supercontract
Customizable due diligence forms
Screening and facial recognition integration
Blacklisting
Generation of regulatory reports
Benefits of SiriusKYC
Fast and easy user onboarding
Improved user experience
Identity theft protection
Minimized or no disclosure of personally identfiable information
Increased trust and confidence between transacting parties
Transparency for auditors and regulators
ProximaX Blockchain Solutions
As a leader in blockchain and distributed ledger solutions, we are constantly developing new ways for blockchain and distributed ledger technology to improve your business. The foundation of our work is ProximaX Sirius, a next generation blockchain-powered development platform with distributed storage, streaming, and database layers. Advanced features such as multisig, Supercontract, aggregate transactions, and cross-chain technology ensure maximum security and optimum performance of our applications and system solutions.
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ProximaX?
ProximaX’s vision is to drive the mass adoption of blockchain technology by making it easy, accessible, and practical to implement and use. Our blockchain-powered development platform empowers companies and organizations with cutting-edge solutions that emphasize data security, integrity, and reliability while maximizing cost-efficiency.
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To find out more about how our solutions can make your business more lucrative, or to become a ProximaX technology partner or systems integrator, drop us an email.
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