European P2P Lender Bondora Explains how Platform Users Can Successfully Complete Digital Identity Verification Process on Platform

Bondora, a European peer to peer lender, notes that if you’re new to their platform and haven’t had the chance to verify your identity yet, then you should know that your (true) identity is “vital” to the authentication process, as the information you provide helps the company protect your funds and your account as well.

Bondora explains that getting the ID verification process right is “essential.” The P2P lending platform has shared the different requirements and tips you’ll need to get your ID verification completed in “no time.”

To verify your identity on Bondora (and most other online platforms these days), you will need to provide a fairly high-quality color copy of your identity document.

Your identity document on Bondora may be your passport, both sides of your ID card, or even your driver’s license. After you’ve selected the document you’ll be using for ID verification, you may scan it or take a photo of it using a camera or smartphone.

You need to ensure that the document is still valid and has not expired. On most digital investment platforms like Bondora, companies also expect your digital documents to be of fairly good quality (like at least a color image).

You also need to make sure the image is not blurry so your face is clearly visible. (Note: to review other requirements for completing ID verification via Bondora, check here.)

Effective digital identity solutions have become increasingly important, especially in a post-COVID environment because many more users are conducting business online (instead of physical locations to avoid the further spread of the Coronavirus).

Businesses and border control agents will be needing a reliable way to safely determine or assess risks before they are able to safely reopen. They must know who has been vaccinated or recently tested negative — and they also need to do this in a manner that can be trusted, without the risk of fraud that usually comes with paper health certificates or the risk of data breaches that come with centralized digital platforms.

The technology is already here to handle these tasks. It’s called: Self-sovereign identity (SSI) or verifiable credential technology.

Evernym, an established provider of SSI technology with 400 clients internationally, recently revealed the necessity of using self-sovereign identity for a solution as critical as globally verifiable COVID credentials. The Evernym team explained how the technology can support an open ecosystem while preserving privacy and security.

We recently caught up with Alex Andrade-Walz, Director of Marketing at Evernym.

He explained how this digital identity technology works and why self-sovereign identity is critical in order to securely and privately exchange sensitive health, travel, financial, and other credentials.

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