What are Re-usable KYC Credentials?
The digital age has significantly transformed the way we share and manage our personal information. With the increasing demand for online services and the need to verify identities across various platforms, the concept of re-usable KYC credentials, or online passports, is quickly gaining traction. In this blog post, we'll discuss how to obtain re-usable KYC credentials and explore the benefits of stepping into the future with online passports, with a focus on innovative solutions like Togggle, an automated KYC platform.
Re-usable KYC credentials, or online passports, refer to a digital identity solution that allows users to verify their identity once and use these verified credentials across multiple platforms and services. This concept aims to reduce the burden of repeatedly providing and verifying personal information, streamlining the onboarding process for users and businesses alike.
Obtaining Re-usable KYC Credentials with Togggle
Togggle is an automated KYC platform with a distributed PII storage vault offering all scanned customers reusable credentials. It is a secure and efficient way to obtain re-usable KYC credentials.
Here's a step-by-step guide on how to obtain these credentials with Togggle:
- Sign up for Togggle: Begin by creating an account on the Togggle platform. This process will require you to provide some basic information, such as your name, email address, and a password.
- Complete the KYC process: Togggle will guide you through the KYC process, which involves uploading relevant identification documents, such as your passport or driver's license. The platform leverages blockchain technology to securely store and verify your data, ensuring your privacy and the integrity of your information.
- Obtain your re-usable credentials: Once your identity has been verified, Togggle will issue you a unique digital identity, or online passport, which you can use across various platforms that have integrated Togggle's solution.
- Share your credentials: When signing up for a new service or platform, you can simply share your Togggle credentials, allowing the service provider to access your verified information without the need for additional verification processes. This streamlines the onboarding process and saves time and resources for both users and businesses.
The Benefits of Online Passports for IDV (Identity Verification).
Online passports for IDV offers numerous benefits for both users and businesses:
- Enhanced user experience: Re-usable KYC credentials reduce the need for users to repeatedly provide and verify their personal information, resulting in a smoother and more efficient onboarding process.
- Time and cost savings: By eliminating the need for manual verification processes, businesses can save time and resources, allowing them to focus on other core aspects of their operations.
- Improved security: Togggle's distributed KYC platform ensures that your data is securely stored and verified, reducing the risk of data breaches and identity theft.
- Compliance: Togggle's solution allows businesses to maintain compliance with relevant KYC and AML regulations, reducing the risk of penalties and reputation damage.
Obtaining re-usable KYC credentials with solutions like Togggle paves the way for a more efficient and secure digital identity ecosystem. As the world continues to embrace digitalisation and the demand for seamless online experiences grows, the adoption of online passports and re-usable KYC credentials will play a crucial role in shaping the future of identity management.