Through the new solution, MYCDD will be able to offer clients an outstanding and convenient onboarding experience for all their due diligence documentation, while at the same time ensuring high security standards.
The IDnow platform, which is fully integrated into MYCDD’s cloud-based framework, will enable MYCDD to offer a simple and quick way for clients to securely prove their identity. The solution checks ID documents and their security features and verifies via biometric checks if the documents and the people match. The full process only takes a few minutes and ensures seamless usability.
Formally launched in April this year, MYCDD aims to revolutionise how financial services firms, including fiduciary services firms, law firms, and service providers in leading international finance centres, manage their ongoing and wide-ranging client due diligence requirements.
Commenting, Stephane Gimenez, CEO of MYCDD, said: “MYCDD was launched in response to a rise in demand for cutting-edge digital due diligence solutions, with a vision to save financial services businesses time and money by revolutionizing the way due diligence is gathered, managed and shared. Working with IDnow represents a big step in doing that – through the IDnow platform we can offer users a better experience, efficient onboarding and best in class security.”
“User requirements have changed over the past year and fully digital solutions have become more and more important”, added Oliver Obitayo, CSO at IDnow. “It’s great to support companies like MYCDD in balancing high security standards with user friendly, digital processes”, he said.
Over the past few years, IDnow has expanded its role far beyond offering individual ident procedures and has become the overarching platform for digital identities with several million transactions per year. In 2021 IDnow announced the acquisition of identity Trust Management AG, one of the leading international providers for on- and offline verification and French market leader ARIADNEXT. Those acquisitions represent important milestones for IDnow on the way to becoming the leading identity platform in Europe.