Today Yoti, the digital identity app with 2m downloads, announced it is partnering with Trilliant to provide instant KYC on its next-generation cryptocurrency ATMs. Trilliant offers hardware and software for the first set of ATMs available to the public, whilst allowing its investors to enjoy revenue shares from a profit pool. Yoti will deliver know-your-customer (KYC) and anti-money laundering (AML) checks, improving compliance and giving individuals a simple, private and secure way to prove their identity.
Yoti will provide Trilliant with:
- Instant and accurate KYC
- Streamlined and cost-effective KYC for both operators and individuals
- Frictionless onboarding and fast processing times, with individuals sharing pre-verified identity attributes in seconds instead of showing paper ID documents
- Identity verification from over 160 countries using government IDs and biometrics
For all transactions, individuals are required to prove their identity at the Trilliant Point-of-Sale.
Yoti is helping to streamline and simplify this process; letting individuals prove their identity in seconds by scanning a QR code to share their pre-verified details; creating a secure and frictionless experience. This removes the need for them to carry around and show paper ID documents, which can easily be lost or stolen.
Sebastian Korbach, CEO of Trilliant, said: “Trilliant’s announcement of a working partnership with Yoti is sure to improve the quality of the experience that our cryptocurrency ATMs can provide. Ensuring that each user is who they say they are allows us to offer an additional layer of security and safety to our users. Additionally, the Yoti partnership will offer our users a slick KYC service to allow the greatest ease-of-use. As a result, Trilliant becomes an even greater force in the crypto ATM market and solidifies us as the dominant player in the industry.”
Yoti gives people greater control over their personal data by allowing them to share specific identity attributes (i.e. just their name or 18+) without disclosing their full identity, helping to protect them from the ever-growing risk of identity fraud.
Thom White, Future Technologies Lead at Yoti, said: “We’re excited to be working with Trilliant to help streamline the company’s KYC process, creating a frictionless and secure customer experience. The Yoti app provides individuals with a single digital identity, which can be used across and beyond the crypto industry. This allows individuals to prove who they are and register for services such as Trilliant’s crypto ATMs simply by scanning a QR code.
“With Yoti, individuals onboard once and then can instantly share their verified identity attributes (KYC) with any organisation that has integrated a simple Yoti SDK. Our partnership with Trilliant is another great step for Yoti into the crypto sector and beyond.”
The free Yoti app is available for Apple and Android phones and takes less than five minutes to set up. People take a selfie and add an ID document with their smartphone, which is transformed into a digital identity. Yoti uses 256-bit encryption to secure user details and puts individuals in control of their data. With Yoti, the user has to give consent before their details are shared. They also know exactly what details they are sharing and who they are sharing them with.