Consulting Firm deVere Group Launches Digital ID Verification System, CEO Nigel Green Says there’s “Soaring Global Demand” for Fintech

The deVere Group, a global financial consultancy providing advice to expatriate clients and investors, has introduced a customer onboarding verification app.

The company’s Ident Me app aims to offer a secure identity verification system, which could serve as an alternative to traditional customer onboarding solutions. The financial services firm’s app also has a notary services function.

Nigel Green, founder and CEO at deVere Group, stated:

“There have been major shifts in the way we live, work, and manage our finances (because of COVID-19 and resulting socio-economic challenges).”

Green added:

“Much of this is being driven by digital technologies, and our financial lives are no exception. There’s soaring global demand for Fintech and it’s clear it is going to become an increasingly dominant part of our lives moving forward.”

He argued that Fintech has already become the “new normal” as consumers are increasingly demanding and expecting more efficient and faster ways to manage their finances. Customers are also looking to save as much as possible when conducting transactions, Green said.

He noted that the Ident Me app provides a user-friendly, simple and safe way for customers to complete their identity verification process through a KYC (Know Your Client) form.

Users have to take photos of the front and back of their ID cards or passports. They also need to take a picture of a document with their residential address on it (e.g. a utility bill or rental agreement). Customers are also required to take a “live selfie” so that it can be verified with their ID/passport photo.

After completing these steps, clients will be given access to deVere’s suite of Fintech apps.

It’s worth noting that AML/KYC checks are still quite difficult to complete on most online platforms. For instance, there are many services that have introduced facial recognition or biometrics as part of their ID verification process. However, the software solutions often make mistakes and many users might fail these checks even if they have legitimate documents.

This leads to frustration and many consumers might even stop using an app or platform because of these issues. It’s also quite expensive (in most cases) to add KYC checks, but it may be a regulatory requirement and also ensures that customers remain safe while using online platforms.

The deVere Group offers several different products including the deVere Vault, a digital currency app and a multi-currency prepaid card. Additionally, the company offers deVere Crypto, a cryptocurrency app to store, transfer and exchange digital assets like Bitcoin (BTC).

Then there’s deVere Core, an app that lets users manage their investments in real-time while being able to check the latest news and developments that may affect their returns.

The company also offers deVere Catalyst, a low-cost investment and savings app that provides access to globally diversified funds.

Last month, the company announced that will provide digital finance services in Dubai.

In March 2020, deVere reported a significant increase in Fintech app usage due to lockdowns enforced after the COVID-19 outbreak.

The firm is offering contactless financial advice as people have been spending most of their time at home due to the pandemic.

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