Civic Announces Enhanced Identity Verification

Today, at ETHDenver, we’re thrilled to announce enhanced identity verification. Now, financial services builders complying with local laws can benefit from more advanced tooling with Civic Identity Verification (IDV) Pass. Companies can use Civic IDV Passes as inputs to their compliance programs. Along with our enterprise-grade identity and access management protocol, Civic IDV Pass presents a golden opportunity for companies setting up for long-term gains and growth.

Each Civic IDV Pass indicates that a user’s government-issued identity document has been verified and matches the individual presenting it. Many local laws, including rules currently being enacted in the EU, require companies to track and report certain information about their users. New enhancements to Civic IDV Pass make meeting these requirements even easier.

Civic Pass is on-chain and Web3 native, making digital identity a seamless part of the financial services experience. A Civic Pass is a non-transferable token stored in the user’s wallet, representing their verified digital identity, but completely private for the user.

Sign-up for Civic IDV Pass is easy. There’s no app to download or special eye-scanner for users to seek out. People can sign up in advance or at the point in time they need a Civic Pass through an integrated flow from either their mobile phone or desktop.  By integrating directly within your platform a new user never needs to leave your platform to get their Civic Pass.

It’s all coming at a time when the financial services community is under more regulatory scrutiny over cryptocurrency than ever. In the US, the SEC recently expanded definitions of its new rules, signaling its intent to enact enforcement more broadly than previously indicated. In the EU, new transfer of funds rules affecting crypto exchanges are set for approval by the EU Council.

Plugging digital identity into existing compliance programs has never been easier for builders. For companies that need enterprise-grade identity and access management (IAM), our Civic Pass platform can give DeFi companies the ability to manage user access on an ongoing basis. Web3 dApps can issue, freeze and revoke a user’s Civic Passes through a simple API that connects with your existing compliance processes. We also have custom enterprise networks, complete with a robust management and analytics dashboard.

Ready for a live demo? Sign up now. Ready to get started? Get started with our docs.


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