Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Crypto agents offering fully online verification system

With anti-money laundering compliance getting harder and harder, it’s no surprise that companies are struggling to keep up. But one company is leading the way with the first fully electronic verification system.

When it comes to investing in cryptocurrencies, Easy Crypto have the simplest method of buying in NZ right now – fully online, including biometric verification. Not only were Easy Crypto the first to market with a fully electronic verification system, but they also remain the fastest, thanks to a system custom designed by Origin ID.

“Generally the process will take less than two minutes from start to finish – most other companies needing to verify ID will take anywhere from a few hours right through to a couple of weeks if done completely manually,” says Janine Grainger, Founder of Easy Crypto.

“We see this as the way of the future – AML compliance is just getting stricter and stricter, and every industry that is forced to follow these regulations is going to have to find ways of speeding up the process of verification,” shares Janine. “We’ve just managed to do that early by partnering with Origin ID.”

The verification process follows a few simple steps:
- Creating an Easy Crypto account with a phone number.
- A text is sent to that phone number with a link to visit.
- You'll be guided through taking photos of your NZ Driver’s Licence or passport and a quick "selfie" video.
- The Origin ID system will confirm you are who you say you are and send you back to Easy Crypto, fully verified.

“Our solution uses technology such as Optical Character Recognition, Facial Recognition, and liveness detection to pull data from the photos you take and is smart enough to ensure that the ID has not been manipulated in any way,” shares Russell Smith, Chief Executive of Origin ID.

“This clever technology will pick up more than the human eye possibly could, so in many ways it’s far more secure than doing it manually.”

With several companies already facing fines from not complying with new AML regulations, Easy Crypto are ahead of the game in having verification fully online.

Now, Janine’s calling for other industries to catch up.

“Obviously for us it’s a real benefit and point of difference to have a fully electronic verification system, and while in some ways it would be great to keep that as a point of difference, it seems crazy to me that other industries wouldn’t be trying to catch up and offer the same. It makes the process of verification easier for customers and reduces paperwork and manual input for the company – it’s a no brainer for us.”

Origin ID is making similar technology available for smaller businesses such as lawyers and real estate agents with their new Aply offering, but for now Easy Crypto is the only company taking advantage of their fully electronic verification system.

“For us, having a quick way to verify people’s ID online is about creating a smooth workflow and an awesome user experience,” shares Janine.

Russell adds with a laugh, “It’s about verifying a customer’s ID in a sexy way!”

For more information or to start investing in cryptocurrencies, visit www.easycrypto.nz

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Federated Farmers: Applauds UK-Australia Free Trade Deal

News that Australia and the UK have signed a free trade agreement is a promising step forward in the fight against tariffs and protectionism, Federated Farmers says.
"It reinforces the international rules-based trading framework and is important for rural producers and global consumers," Feds President Andrew Hoggard says... More>>




ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>

Reserve Bank: Debt Serviceability Restrictions Added To Policy Toolkit

The Reserve Bank – Te Pūtea Matua and the Minister of Finance have agreed to update their shared Memorandum of Understanding (MoU) on macro-prudential policy and add debt serviceability restrictions to the list of potential tools available... More>>