AU10TIX, a global technology provider of identity verification and management solutions, this week announced that its fully automated identity verification (IDV) solution has been chosen to accelerate the customer onboarding process for multi-exchange crypto trading ecosystem 3.0 Verse. The marketplace’s original identity verification process could take as long as 15 minutes, causing users to abandon the site during sign-up and costing significant revenue. AU10TIX said its frictionless, automated solution will reduce the procedure to eight seconds or less while ensuring higher accuracy.
“When we learned that our earliest visitors were facing extensive wait times for ID verification, we immediately sought a more efficient solution,” said Mayur Poddar, director of 3.0 Verse. “AU10TIX’s user-friendly technology not only drastically reduces the verification process, but also enhances user experience. Furthermore, it aligns with our commitment to preventing money laundering and complying with all relevant regulations.”
3.0 Verse is a platform for crypto trading that aggregates multiple CeFi and DeFi exchanges, providing real-time prices, market analysis, news, information, and a robust data interface for blockchain and cryptocurrencies. It also features a media channel (3.0 TV) and an educational platform (3.0 University).
AU10TIX’s IDV suite includes advanced features such as document authentication, ID-to-selfie face comparison, liveness checks, and address verification. Its integration into the 3.0 Verse website and mobile application will streamline and significantly enhance the know your customer onboarding process.
“AU10TIX and 3.0 Verse share an innovation-driven culture, and this synergy makes us perfect partners for shaping the future of cryptocurrency,” said Dan Yerushalmi, CEO of AU10TIX. “Our technology will eliminate the friction that is causing user dissatisfaction and high abandonment rates and ensure that customers can seamlessly engage in various activities on the platform, from trading to lending, borrowing, and more.”
AU10TIX’s identity verification expertise stems from its legacy in airport security and border control, dating back to the 1980s. This experience has allowed the company to successfully verify more than one billion IDs worldwide.