User-controlled data passporting for advanced digital economies.
Credify’s idX (Identity Exchange) product acts as a personal information bridge that connects and integrates e-commerce marketplaces and lending platforms with institutions that possess valuable, yet untapped information. With valid identity verification and credit scores, Credify enables new revenue streams for traditional organisations in a manner that is both secure and compliant with data privacy standards.
Onboard existing users into the idX ecosystem. A highly secure identity passport gives users both easy access to all your group or company services, and full control over how their personal information is shared. The user gets to enjoy tailored perks and deals with your partners, while your company gets to streamline its compliance with increasingly strict data privacy regulations.
Realize new revenue streams from existing KYC and transaction history data. You increase your revenue when you provide user-approved KYC and in-platform activity & transaction history data to third parties. Simultaneously, you gain access to more relevant information on your users.
Enhance your user data. As more digital platforms join the idX system, you acquire more accurate and more relevant data, both new and old, that allows you to market more effectively while assessing counterparty risk.
Create a user financial profile. For the benefit of users and 3rd party services they employ, transaction history & other verified personal information can provide data that approximates a credit score for billions of people who lack credit scores in existing financial systems, depriving them of access to financial instruments they need.
A new product that enriches service providers within the Credify network, serviceX (Service Exchange) allows platforms and service providers to offer targeted deals to each others’ users based on pre-established conditions. This promotes a form-less, paperless identity passporting experience that realises new revenue opportunities through mutually beneficial transactions. This system may ultimately grow more effective than AdWords or Facebook targeting, as the data involved gives more comprehensive insight into the users and, for service providers, greatly reduces the cost of on-boarding and customer acquisition.
Offer pre-approval to users for great deals on other complementary services and platforms. Pre-approvals are based on required data thresholds with simple configuration and no programming required.
Drastically improve your customer experience with Credify idX-based form-less onboarding while lowering your Customer Acquisition Costs..
Achieve pin-point accuracy in your marketing strategy with access to high-quality users from other platforms, supercharged with partner deal pre-approval. KYC & transaction history can serve as the basis for validating 3rd party services and product offerings.
Accept deals and receive commissions from other service providers for successful user conversions. As an example, 5M users ☓ $3 per data pack ≈ $15M new revenue per year.
Source the reputation and reliability of clients and transactions from participants in your surrounding ecosystem.
Your company’s “loyalty program points” are tokenised and used to vouch for the reputation of products, services, partners, and loans.
Successful vouching grants rewards for backing positive transactional outcomes, while imposing penalties for backing low quality outcomes.
A “loyalty program points” system securely and cost-effectively engineered on blockchain, provides a universal incentive structure for your ecosystem. It can be additionally utilized between group and partner companies who join the broader network.