In today's competitive and highly regulated markets elements can change so rapidly. Due to this many merchants struggle to be able to keep up with the technical roadmap to build and improve their product(s). Often these already scarce resources are invested into integrating multiple identity and KYC providers instead of on focusing on the core priority of the product.
Lack of Automation
Still one of the biggest challenges of almost all industries that utilize KYC and verification methodologies is the lack of automation both on the operator and the supplier side.
Real time data is a critical part of change and improvement and in turn a key to being successful in today's ever changing world. The challenge presented with most tools and systems are that there is no real time data. Most data is based on 24-hour periods and this in most cases is not sufficient to effectively adapt and improve elements such as the user experience.
High KYC Cost
An issue that many businesses have is that their KYC checks are almost soley restricted on the registration process and while this may support automation, it can be very costly, as they pay for checks on users which may not end up becoming paying customers.
When you expand your products and services into new countries and regions this can present challenges in relation to risk related elements such as fraud, low conversion and not having the right tools and information in place.
No Development Capacity
When development teams need to integrate often unstructured and complicated KYC methodologies, that also need to be updated and sustained, this increases dependency and challeneges the developer ressources and capacity.
Long Time to Market
Speed is one of the most important characteristics of a sucessful company, and this need has multiplied with increased competition, constant market changes and increasing regulatory requirements. For most companies, speed is always a challenge despite technological assistance, especially when it comes to quick access to new markets.
When venturing into new markets operators may struggle getting the right tools and the required knowledge of the specific market, this can not only incur unnessary costs but can be extemely time consuming delaying the entery and development of these markets.
The dynamics of digitalisation and the continual shift to online- and mobile services has made the importance of stricter regulatory frameworks, data security requirements and effective online verification and documentation necessary. The challenges of these constantly increassing compliance requirements requires continous focus and the respective expertise.
How DevCode Identity solves the challenges for you
All In One Solution
DevCode Identity includes over 300 providers and integrations. You get access to the latest and best KYC providers on the market and in many cases have the option of confirming user information non-intrusively. We can offer localized and optimized sign-in possibilities for different markets.
Designed and developed with automation in mind. You can define both the signin flow as well as the identification flow required. Get a fully automated user journey based on workflows and scenarios.
Out of the Box Reporting
Real-time reports to be able to provide real time statistics and information.
Lower KYC Cost
In combination with offered payment integrations, you can define exactly when and most importantly at what value or time users should be verified. As a result, the costs for customers with low or for non-customers can be significantly reduced.
Reduce fraud in both existing markets you operate in by taking effective actions to reduce identity and (trial) bonus fraud. We also provide the necessary tools, integrations and knowledge to provide you with specifc risk-related support as you enter new markets.
Decrease your time to market. Minimal integration effort on your part, as it is a simple API that includes many implementations. We take care of updates and maintenance of all the solutions. Receive direct chat support from the onboarding team during the integration process.
You get rapid time-to-market solution thanks to our simple API and strong onboarding team. Some operators have even implemented the API in less than a few weeks.
Tested on multiple markets, making it easier for you when it comes to implementing the right tool for the right market.
Fulfill your compliance requirements for regulated markets since we cover multiple jurisdictions such as UK, Sweden, Germany, Netherland and more.