VaultID has been working with partners in Near Shore locations to assist unbanked populations to Identify and onboard the people into the banking system helping populations transact and Bank for the first time, and have launched proprietary technology to cater for the lack of proof of identity for the unbanked. VaultID provides full bio-metric and official verification with QR Code and bank audit files to reduce wait times in the banks. The eKYC solution also covers all AML legislative compliance.

VaultID technology caters for greater transparency and complete tracking of all remittances, allowing for better management and monitoring of transactions. this brings tremendously opportunities that this opens up for Unbanked and Underbanked.

As part of “Know Your Customer / Anti Money Laundering” legal compliance requirements, the impact in the knowledge that 6 out of 10 top growing economies have more than a 30% unbanked population is significant, so a growing need for alternative means to offer financial inclusion solutions is a vacuum which VaultID endeavors to fill.

VaultID through its “myVault” application caters for the Unbanked by empowering them to obtain personal verification through unconventional means. myVault is a Verification wallet built on both traditional verification tools such as ID, Passport and Driver’s license scoring but also includes Bio-Metric scoring and Witness attestation. 

The holistic approach taken by VaultID will allow a greater number of the Unbanked to obtain financial inclusion and enjoy financial benefits, in some cases simply the ability to open a bank account and what most of us take for granted.

VaultID Group Ltd

Org chart

Teams

Offices