The new account creation process is particularly vulnerable to fraud - 1.5 million fraudulent accounts that were opened in 2015 alone. The current protection mechanisms are failing both businesses and individuals as the costs incurred from this is reported to be $25 Billion.
Civic Partners receive pre-verified identity information during the signup process that they can trust. By utilizing secure private sign-up solution they can rest assured that new accounts that are being set up have been approved by the person that is identified as being the owner of the account.
The Civic app enables our Members to easily provide verified identity data to our Partners. Civic Members can select the identity data to share with our Partners and receive real-time alerts when their identity is used, placing them in control of their identity.
Secure Private Sign-up provides greater privacy with the use of the blockchain. Unlike OAuth and OpenID, Civic is not in the middle of the identity data transaction between our Members and Partners, hence greater privacy for all parties. Civic’s architecture with the blockchain is capable of providing true anonymity to users.