Indicio Proven™ Finance is a complete verifiable credential solution for banks, financial services companies, and payment providers, delivering seamless customer authentication and reusable KYC, KYB, and AML

SEATTLE, WA / ACCESSWIRE / March 7, 2023 / Indicio, the market leader in delivering enterprise-class verifiable data solutions, today announced the launch of Indicio Proven™ Finance, a complete, off-the-shelf solution for customer account authentication, consent-based data sharing, and reusable know your customer (KYC), know your business (KYB), and anti money laundering (AML) for financial services and payments applications- all enabled by open-source decentralized identity technology.

Indicio Proven™ Finance allows banks, financial institutions, third-party fintech providers, and customers to create and share verifiable account identities with other banks, financial institutions, service providers, and retailers- simply, quickly, securely, and without direct integrations or third-party data management. The result is a seamless partner or customer experience that solves data privacy and security concerns while providing better service.

"Indicio Proven™ Finance makes account access seamless and secure because verifiable credentials remove the need for usernames, passwords or other personal data to verify that the account owner is the account owner," said Heather Dahl, CEO of Indicio. "Seamless account login is also faster and easier for the account holder - they don't have to remember passwords or keep changing them and there are no multiple authentication steps. Proven Finance also comes with verifier software so that bank partners, third party service providers, and retailers can also use the same verification process to simplify purchases and verify payments."

"Digitally native customers expect seamless experiences and want new products and services that are easy to use," said Dahl, "but they are also concerned about privacy and security. Proven Finance is an architecture that makes fully mobile finance and payments simple and safe."

In addition to a verifiable account credential, Indicio Proven Finance also comes with a KYC credential. This meets the needs of more complex data sharing and means that costly and time-consuming vetting can be reused by a credential issuer or shared, by consent, with partners or third parties, speeding up customer access to services and eliminating errors and costs.

"The underlying architecture to Indicio Proven™ Finance - its use of DIDComm as a communications protocol - represents a significant step forward in digital interaction," said Ken Ebert, Indicio's CTO. "While the technology delivers many benefits that legacy systems simply can't, the key value proposition is replacing APIs where they should never have been used in the first place - for any purpose where personally identifying information and other high value data is shared. This makes Indicio Proven Finance not only a great product for financial services, it's both a technical and data governance catalyst for the expansion of payment capabilities and secure channels to related financial service categories such as insurance, and lending."

For a demonstration of Indicio Proven™ Finance or to learn more about the full line of Indicio Proven™ products, please visit Indicio.tech.

About Us: Indicio is the market leader in developing enterprise-class verifiable data solutions that optimize your existing systems ensuring digital privacy, efficiency, and trust. Through its flagship product range, Indicio Proven™, companies now have an easy way to integrate, implement, and scale decentralized identity and verifiable credential solutions, manage data privacy, and avail of enhanced, Zero-Trust enabling security. Specializing in applications for financial, healthcare, and travel markets, Indicio enables its global customers to create and use immediately actionable, verifiable data and implement Web 2.0 and Web3 digital transformation. Contact us to learn more.

Contact:

Helen Garneau
PR@Indicio.tech
888-434-7344

SOURCE: Indicio