Yoti to provide instant KYC to Trilliant cryptocurrency ATMs

Wednesday 12 September 2018 13:25 CET | News

Yoti has announced its partnership with Trilliant to provide instant KYC on its cryptocurrency ATMs.

Trilliant offers hardware and software for the first set of ATMs available to the public. Yoti will deliver know-your-customer (KYC) and anti-money laundering (AML) checks, improving compliance and giving individuals a private and secure way to prove their identity.

For all transactions, individuals are required to prove their identity at the Trilliant Point-of-Sale. Yoti is helping to streamline this process: letting individuals prove their identity in seconds by scanning a QR code to share their pre-verified details. This removes the need for them to carry around and show paper ID documents, which can easily be lost or stolen.

Yoti gives people greater control over their personal data by allowing them to share specific identity attributes (i.e. just their name or 18+) without disclosing their full identity, helping to protect them from the risk of identity fraud.

The free Yoti app is available for Apple and Android phones. People take a selfie and add an ID document with their smartphone, which is transformed into a digital identity. Yoti uses 256-bit encryption to secure user details and puts individuals in control of their data. With Yoti, the user has to give consent before their details are shared. They also know exactly what details they are sharing and whom they are sharing them.

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Keywords: Yoti, KYC, Trilliant, cryptocurrency, partnership, ATM, digital identity
Countries: World