GetID at IFX EXPO 2021 in Dubai: Main Highlights

TALLINN, Estonia - May 31, 2021 - PRLog -- According to the GetID team, the iFX EXPO audience in Dubai showed a genuine interest in GetID KYC solutions. In addition to the core set of services for KYC onboarding (ID documents verification, biometrics check, AML screening), the no-code implementation and highest flexibility were met with great interest, as well as the recently announced service to speed up the Proof of Address verification. Attendees were amazed that the identity verification process with GetID takes seconds.

"We were surprised that nearly half of the companies aren't using any KYC providers" – comments Vladimir Popov, Head of Product at GetID. "So we had to explain the advantages of an external service over a company's internal resources – it's faster, more cost-effective, and more professional".

Participants of the EXPO loved GetID's KYC Flow Builder. They were able to witness how literally in a matter of minutes GetID platform was able to set up the preferred verification flow, preferred integration option, and other settings customized for their individual business requirements. This has also proved that there's a demand for low-code KYC solutions.

Also, GetID introduced its newest product feature – the Proof of Address.

"Not many KYC companies offer this feature. And the already existing solutions don't have what the market needs. We approached the POA from an angle of how we can help compliance teams to organize their job in a more efficient way, to monitor and audit the results. We're aiming to offer a fully functional product for compliance teams that will enable them to control the results and get into details", – comments Vladimir Popov.

The companies testing GetID's new features turned out to be crypto services, like exchanges, so no doubt that the industry is growing. The EXPO also has shown the long-term trend for digitalization, a lot of financial industry players are switching to automated solutions.

"Regulations in new countries are still emerging. We're trying to pass our experience in finance and investments on to the crypto industry. A big portion of the crypto industry players still doesn't understand what are regulations, how they work, and what can be the consequences of non-compliance with those regulations. In this sense we are often acting as "connecting link" and advisor for new crypto businesses", – adds Dmitri Laush.

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