KYC start-up HelloFlow closes $1.6m seed round
https://igamingbusiness.com/kyc-start-up-helloflow-closes-1-6m-seed-round/
https://igamingbusiness.com/kyc-start-up-helloflow-closes-1-6m-seed-round/
iGaming Business
KYC start-up HelloFlow closes $1.6m seed round
HelloFlow, a Denmark-based start-up offering a no-code KYC and client onboarding solution, has closed a $1.6m seed round.
As KYC market is one of the fastest growing investors are seeking for the opportunity to get the share in new projects.
How NFT can help KYC
The global introduction of blockchain technology into the business environment and the social sphere, namely NFT tokens, can radically change in an unexpected way traditional compliance procedures. The new popular technology of the decentralized token NFT allows everyone to hold and use it.
As you know, according to the global anti-money laundering (AML) policy, companies in various business areas are required to identify their customers. This provides for the need to obtain the client's personal data and their subsequent documentary confirmation to establish identity. In most cases, each platform is obliged to conduct its own KYC procedures, which incurs material and time costs.
Identity uses the revolutionary idea of assigning a unique NFT token to a customer's profile after KYC. In this case, this NFT is a digital ID of the client, which relieves the partner company of the obligation to carry out the KYC procedure, since the presence of an NFT by the client indicates that the ID contains personal data that was previously verified by Identity.
The global introduction of blockchain technology into the business environment and the social sphere, namely NFT tokens, can radically change in an unexpected way traditional compliance procedures. The new popular technology of the decentralized token NFT allows everyone to hold and use it.
As you know, according to the global anti-money laundering (AML) policy, companies in various business areas are required to identify their customers. This provides for the need to obtain the client's personal data and their subsequent documentary confirmation to establish identity. In most cases, each platform is obliged to conduct its own KYC procedures, which incurs material and time costs.
Identity uses the revolutionary idea of assigning a unique NFT token to a customer's profile after KYC. In this case, this NFT is a digital ID of the client, which relieves the partner company of the obligation to carry out the KYC procedure, since the presence of an NFT by the client indicates that the ID contains personal data that was previously verified by Identity.