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Accounting & Audit

Securitize Launches Securitize ID – Simplifying KYC/AML With One-Time Signup

As a required necessity in capital markets, the traditional process of information retrieval, identity verification, and document checks known as “Know Your Customer” (KYC), has been painful for all parties involved.

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Securitize, the industry-leading primary issuance and lifecycle management platform for digital securities, announced today the launch of Securitize ID, a new automated sign-in tool that offers digital security issuers and investors a fast, compliant, and reliable verification process. The new tool caps a busy month for Securitize after recently launching Securitize Instant Access, a feature that gives issuers the power to allow peer-to-peer transactions for digital securities.

As a required necessity in capital markets, the traditional process of information retrieval, identity verification, and document checks known as “Know Your Customer” (KYC), has been painful for all parties involved. According to a Thompson Reuters survey, it takes an average of 26 days to onboard a new institutional client.

While no one is exempt from carrying out KYC during the lifecycle of an asset, Securitize ID expedites the approval process by enabling the investor to share their pre-approved non-expired KYC documentation with a single click to a new offering. Securitize will not connect prospective investors to issuers or promote potential investment opportunities, but investors who find the issuer’s offering organically will be able to streamline their KYC process with that issuer using their Securitize ID.

“Securitize ID is a powerful new tool we developed after recognizing the opportunity to dramatically improve the investor onboarding process and experience for our issuers and their investors.” said Carlos Domingo, Securitize CEO & Co-Founder, “New features are never easy, especially ones requiring rigorous regulatory review, but we’re very excited to roll out Securitize ID as it will save our issuers time and money while giving investors a much improved overall experience.”

Some of the advantages of using Securitize ID are as follows:

  • Faster and Unique Verification: Securitize ID allows investors to complete KYC once in a process that can be carried out in minutes. They can then reuse their identity, ensuring consistency in their records and satisfaction for the user.
  • KYC for individuals: Securitize ID supports a high-grade investor KYC which includes selfie identity, government-issued photo ID and proof of residence.
  • Entity KYB: Securitize ID supports verification of businesses, complying with all the requirements of Knowing Your Business (KYB), including but not limited to, ultimate beneficial owners, organization incorporation documents and KYC of legal signers.
  • API First: Securitize ID can connect with any platform to integrate a KYC verification flow easily with any of your current business processes.
  • Ongoing Monitoring – Nightly Screening: ‌Securitize uses third-party service providers to conduct nightly screening on all investors and wallets that have been onboarded through Securitize ID. The investors are screened against various domestic and foreign government sanction watchlists inclusive of OFAC, European Union, InterPol and many more. The wallets are screened for dark markets, sanctioned wallets, mixers and other forms of nefarious activity.
  • Ongoing Monitoring – Documentation Review: Securitize ID keeps the investor’s documentation valid and up to date by automatically prompting investors to upload a new government-issued photo ID should it expire.

Securitize ID is powered by Securitize’s Digital Securities (DS) Protocol, the most widely adopted protocol of its kind in the industry. Five digital securities powered by the DS Protocol can now be traded on regulated digital securities marketplaces, including Openfinance and Sharespost, with more in the pipeline. For more information about Securitize, visit Securitize.io.