Trilliant Points Yoti as KYC Partner For Its ATM
On Monday Yoti, a digital identity app that has gotten more than 2 Million downloads has declared a partnership agreement has been reached with Trilliant to help provide immediate KYC on its state of the art ATM.
Trilliant, is the first platform to offer hardware and software on ATMs used by the public. It gives advantage for investors share revenues from a profit pool.
In this partnership, Yoti has been selected to provide anti-money laundering (ATM) procedures and also know-your-customer (KYC). This is to enhance compliance with regulatory guidelines, while also providing secure, private, and simple way to deliver identity measures for individuals.
In this regard, Yoti is to provide Trilliant the following:
- Instant, seamless, and accurate KYC.
- Cost effective and efficient KYC for both operators and individuals.
- Frictionless onboarding and speedy processing times, which will make individuals share their pre-verified identity attributes in within seconds instead of verifying through paper ID documents.
- Identity verification from over 160 countries with the use of government IDs and biometrics
Note that for all transactions on the platform, it is necessary individuals provide their identity at the Trilliant Point-of-Sale.
With the help of Yoti, the verification processes are being streamlined and simplified by allowing them prove their identity in seconds with the help of QR scanner which allows them to share their pre-verified details, thereby giving room for an accurate, secure and frictionless experience.
The idea will shorten the processes, and remove unnecessary delay which occurs when individuals are cumpulsoried to bring along a paper ID documents that are easily lost or stolen.
“Trilliant’s announcement of a working partnership with Yoti is sure to improve the quality of the experience that our cryptocurrency ATMs can provide. Ensuring that each user is who they say they are allows us to offer an additional layer of security and safety to our users,” Sebastian Korbach, CEO of Trilliant, said on the new partnership.
“Additionally, the Yoti partnership will offer our users a slick KYC service to allow the greatest ease-of-use. As a result, Trilliant becomes an even greater force in the crypto ATM market and solidifies us as the dominant player in the industry.”
Yoti’s version of KYC gives individuals control of their identity without sharing identity attributes i.e. not fully disclosing their attributes which protects them from the risk of fraud.
Speaking on the new collaboration, Thom White, Future Technologies Lead at Yoti, said:
“We’re excited to be working with Trilliant to help streamline the company’s KYC process, creating a frictionless and secure customer experience. The Yoti app provides individuals with a single digital identity, which can be used across and beyond the crypto industry. This allows individuals to prove who they are and register for services such as Trilliant’s crypto ATMs simply by scanning a QR code.”
He added that “With Yoti, individuals onboard once and then can instantly share their verified identity attributes (KYC) with any organisation that has integrated a simple Yoti SDK. Our partnership with Trilliant is another great step for Yoti into the crypto sector and beyond.”
With just a selfie, and ID document added on the cellphone, Yoti transforms them into a digital identity.
The identity verification app deploys 256-bit encryption for securing information of users, while putting them in control of their personal data. The app secures personal information to the extent that users are charged given consent before their information are shared with anybody.