03 Feb
2021 was not much different from 2020. To be honest we all thought we are reliving the same year over again. We’re still dealing with the effects of the pandemic, we’re still l facing lockdowns and we are still working mostly remotely.
Covid testing has become a big part of our lives. Vaccinations for a brief moment made us hope that we will go back to normal, however new variants of the virus kept popping up and ruined the chance of defeating the pandemic. It was a tough year for the economy, which again had to face multiple lockdowns. Companies and institutions had to adapt to the remote work and think of a way to onboard clients online. For Fully-Verified it was a very dynamic year. We have also adjusted our work to the pandemic conditions. We established new partnerships, our team has grown and we took part in exciting new projects. Let’s review the year and focus on changes and challenges that we at Fully-Verified faced this year.
Among other things, we have added new functionalities that allow for compliance with an even wider range of regulatory requirements, including a Mobile Transaction Authentication Number (SMS TAN). This allows even more flexibility in what verification process our clients can submit to perfectly match it to their needs.
We also constantly strive to make the verification process as friendly as possible and easier for people who verify themselves, we have expanded support for mobile browsers, which means that our verification can be carried out via mobile app, mobile browser, and web browser! Regardless of where the customer begins his journey, he does not have to change the device or platform to be able to verify his identity.
We are also constantly expanding the groups of languages supported by us to increase the accessibility of our product, regardless of what part of the world our clients’ users are from.
We have also introduced many improvements and small quality of life changes that make the use of our products even more pleasant and useful. We want to make sure that the experience of your customers is as best as it can get, and we are still working on improving the customer experience.
The pandemic didn’t stop us from growing. We have welcomed new employees and are still looking to grow in the fields of security, marketing, and customer support. Every member of our team had the opportunity to work remotely and safely. Even in isolation, we have established a way to maintain a personal relationship with each other. Our online coffee breaks are a way to freely communicate within the company and exchange ideas and information. This helped us immensely to stay connected to each other during lockdown.
With the possibility of many lockdowns companies looked for online support in the field of identity verification. 2021 was another good year for cryptocurrencies. The biggest cryptocurrencies have reached new all-time heights in 2021. Bitcoin was worth over $68000 thousand dollars in November, in the same month second most popular coin Etherium reached almost $5000. But it wasn’t all about big worth, for some time in 2021 Dogecoin (coin based on the popular “doge” meme with Shiba Inu on its logo) was the hot topic in the cryptocurrency world thanks to the tweets of Elon Musk.
There are thousands of different cryptocurrencies and new methods for exchanging them. To keep an eye on users’ identities and to make sure there is no identity theft Fully-Verified has partnered with Crypto2Cash, a platform for selling cryptocurrency.
The pandemic forced us to change our behavior not only in terms of direct contact but also in the way we pay for services. There were more and more requests for cashless payments, that could stop the spread of the virus. Not all companies had such a payment method available. We have teamed up with a leading provider of non-cash payment services on the Polish market, Paytel, which offers the implementation of terminals to facilitate change to cashless payments. Our job is to verify the identity of their potential customers, who want to install terminals in their businesses.
Despite the Covid-19 outbreak, the assets management market grew over the last few years. The pandemic crisis may serve as a wake-up call to change the traditional approach to assets management. The pandemic has accelerated the need to rethink the approach to identity verification and enable video identity verification to facilitate interactions between companies, investors, and clients. For that reason, we have partnered with an asset management company, Elevated Returns. Besides long-term cooperation, Fully-Verified offers manual KYC. We customize our services to suit the needs and business requirements of our clients. Our mission is to help the company with the verification of its investors. Our partnership is an elastic, one-time cooperation for a small number of verifications.
Online financial services providers already entrusted remote identity verification and joining their ranks with our help is Ardu Prime. The company with extensive experience in the broker industry, that provides investment services and access to a wide range of assets. By using video identity verification customers are able to onboard within minutes which is very important for brokerage services.
Covid driven digital transformation also prompted changes in banking. Many lockdowns have forced banks to search for alternative ways to provide services, especially since the closing of branches has reduced customer interest in financial services. Some institutions found a way out by using telecommunications applications such as Skype, Zoom or WhatsApp. However, such a solution may lead to various problems. A dedicated KYC solution is the only way to ensure customer safety and satisfaction. Avangard Bank has entrusted our solution and uses our process to onboard new customers.
We are constantly trying to improve our service and find new ways to grow. Thanks to the efforts of our team we have been selected to take part in the Trust Valleys Digital Trust and Cybersecurity startup acceleration program- Tech4Trust. The program aims to boost startups developing innovative solutions and we could not be prouder that our KYC platform has been selected to take part in such a venture.
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Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.
