DeVere launches 'pioneering' identity app amid soaring fintech demand

DeVere launches 'pioneering' identity app amid soaring fintech demand

DeVere Group has announced it is to launch a first-of-its-kind onboarding verification app amid "soaring global demand" for fintech solutions.

The Ident Me app provides a secure identity verification system - as an alternative to traditional customer onboarding - and a notary services function when required, which is a first for the international financial services and fintech sector, according to the Dubai-based advisory firm.

Commenting on the launch, Nigel Green, CEO and founder of deVere, said: "We're in an exciting new world. In recent months, the future has happened faster. There have been major shifts in the way we live, work, and manage our finances."

In recent months, the future has happened faster."

"Much of this is being driven by digital technologies, and our financial lives are no exception," Green added.

"There's soaring global demand for fintech [financial technology] and it's clear it is going to become an increasingly dominant part of our lives moving forward."

"Indeed, fintech is already the ‘new normal' as we increasingly insist on immediate, on-the-go, 24/7 access to, use and management of our money. We demand personalised, on-demand services and lower costs."

He continued: "Against this backdrop of growing demand, we decided that we needed to make the set-up process of onboarding to use our fintech apps as quick, easy and secure as possible."

"Ident Me is a hassle-free, simple and safe way for clients to provide identity verification for themselves via a KYC (Know Your Client) form."

DeVere said the Ident Me app consists of an easy three-step process.

First, proof of identity. This is done by taking pictures of the front and back of your ID card or passport.

Second, the capture of documents. This is undertaken by taking a picture of a document with your address on it, for example, a utility bill or rental agreement.

Third, the liveness test. A live selfie you take will get verified against your ID/passport photo.

Once this has been approved, clients will soon be able to have access to and enjoy the benefits of deVere's suite of fintech apps.

"Fintech is meeting growing demand for on-the-go service, it is speeding up the advance of global financial inclusion which helps social advancement around the world, plus costs are lowered and the client experience is enhanced," he added.

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.