KYC Block
What is KYC Block?
KYC Block is a blockchain-based digital identity management solution for FinTech Industry. It stores, and manages KYC documents of individuals and companies in a decentralised hyper ledger for reduced customer onboarding time.
KYC Block Starting Price
$ 30000/One Time
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Key Features of KYC Block
Here are the powerful features that make KYC Block stand out from the competition. Packed with innovative tools and advanced functionalities, this software offers a range of benefits.
- Audit Trail
- Document Management
- Data Security
- User Management
- Application Integration
- Applications Management
- Collaboration Tools
- Application Security
- Document Storage
- Compliance Management
- Document Assembly
- Document Indexing
- OCR
- Billing & Invoicing
- Dashboard
- Version Control
KYC Block Pricing
Here are the pricing plans for KYC Block. Choose the plan that best fits your requirements and budget. Get Detailed KYC Block pricing as per your requirements.
- digital data management
- identity mangement
- identity verification
- identity validation
KYC Block Specifications
Get a closer look at the technical specifications and system requirements for KYC Block. Find out if it's compatible with your operating system and other software.
KYC Block Description
Here's the comprehensive description of KYC Block. Gain a brief understanding of its unique features and exceptional benefits.
KYC Block by AlphaFortress is a GDPR, EU and US compliant blockchain-based digital identity management solution for reducing KYC time manual efforts to improve the customer onboarding experience and overall customer acquisition rate for the FinTech industry.
Why do you need KYC Block?
FinTech industry has been an endless battle between the customer acquisition cost and different data security laws. The financial industry is yet to find a solution that will bring a balance between high verification cost, time period and levels of identity proofing required to assess the risk of an individual’s identity.
The Numbers don’t lie…
The many report and survey have pointed out the failure of the current management process. The FIs have been suffering immensely by losing the customers and burning cash.
Increasing Customer acquisition cost
As per the industry report, the FIs’ customer onboarding time has been increasing from 22% in 2016, followed by 18% in 2017. The customer onboarding cost saw a 19% increase in 2017 in comparison to 2016 and succeeded by another 16% increase in 2018.
Different AML compliance regulations
Major FIs have invested more than $3.4 billion in improving their KYC process and compliance activities. From 51% of global respondents, 17% FIs reported a significant increase in engagement with regulators.
Increasing KYC process operational cost
10% of the world’s top FIs have already spent more than $100 million annually to improve their customer verification process. Yet, increasing customer friction has shown that the industry needs a solution to address them.
What’s so special about KYC Block?
We have designed KYC Block as per the need of the industry with many features.
Automated OCR and Transcription
No say to manual data entry! When you can easily upload the documents and our software will automatically convert these documents into an error-free format.
Timely and automatic documents and data update
Having access to the updated and correct information is the key to a faster KYC process. Whenever a customer updates any new information, you get real-time instant document and data updates.
Duplicacy Elimination
Duplicacy of the document can lead to clutter across databases and prove harmful for your business. Be carefree from the unintentional error of duplication and automatic elimination of duplicate is the way ahead!
Digital Identity Management
KYC Block is a comprehensive system to maintain the documents and certificates consisting of individual information. It is a framework of identity management for your online transactions.
Distributed Data Repository
A centralised database is a costly liability for the businesses, as being more prone to cyber-attacks and data duplication problems. Blockchain-based shared database provides enhanced security with a unique cryptographic key. Individuals connected to the shared database get
Slashed Operational Cost
Save high operational costs such as staffing, third-party verification vendor and compliance activities.
Enhanced Customer Friction
Increased customer friction has led to customers switching their business. Get access to all the documents in a single place with every minute details about your customers and full transaction analysis.
Decentralised Document Repository
Blockchain databases provide enhanced security and protection for FIs to customers.
Do You Know Your Customer (KYC).....
Receive a full assurance report of your customer identity through KYC DNA, an AI-powered deep search engine. KYC documents will be analysed across AML and CTF databases for any error.
The documents checked (included but not limited to)…..
Company Documents
World-Check, Bank Reference, Tax Certificate, Client Profile, Utility Bill, Registration Document, Application Form Account Legal Entity, Declaration Origin And Destination Of Funds, Shareholder’s Agreement
Individual Documents
Passport, Client Profile, Tax Certificate (RIF), Utility Bill, Bank Reference, Driving Licence Front Side, Driving Licence Back Side
How does KYC Block Works?
As a super admin to a decentralized blockchain-based database, you can manage your customers’ data and set roles for your teams such as Creator, Transcriber, Viewer, and Report Collator. Be part of an encrypted network, and every KYC document will analysed by KYC DNA across different databases for easier compliance laws adherence. Real-time updates about every documents update and transactional activity will be shared across network to connected individual.
Reduce customer friction for business growth and happier customer with KYC Block!
Overall KYC Block Reviews
Thinking about using KYC Block? Check out verified user reviews & ratings based on KYC Block's features, user-friendliness, customer support, and other factors that contribute to its overall appeal.
KYC Block Pros and Cons
"Digital identity Management SolutionAnonymity managementData Protection - Protect documents from fraudulent activities.Data DeduplicationReal-Time EditingRemote Document Access"
"Digital identity Management Solution, Anonymity management, Data Protection - Protect documents from fraudulent activities. Data Deduplication, Real-Time Editing, Remote Document Access"
"Price is high"
2 KYC Block Reviews
Hear directly from customers who have used KYC Block. Read their experiences, feedback, and ratings to gain valuable insights into how this software has benefited their businesses.
PiyushS.
Digital marketing
Used the software for : Free trial
Company Size :11-50 employees
Automated KYC Document Management Solution for Financial Market Infrastructure
KYC Block provides self-sovereign identity, a decentralised approach in which an individual can see where and with whom their information is shared. It replaces multiple documents into a single identity. KYC Block is blockchain-based multi-factor authentication document management service that helps firm/individual to avoid data ambiguity and offers individual more control over their data.
What do you like best about KYC Block?
Digital identity Management SolutionAnonymity managementData Protection - Protect documents from fraudulent activities.Data DeduplicationReal-Time EditingRemote Document Access
What do you dislike about KYC Block?
Price is high
PiyushS.
Digital marketing
Used the software for : Less than 6 months
Company Size :11-50 employees
Automated KYC Document Management Solution for Financial Market Infrastructure
KYC Block provides self-sovereign identity, a decentralised approach in which an individual can see where and with whom their information is shared. It replaces multiple documents into a single identity. KYC Block is blockchain-based multi-factor authentication document management service that helps firm/individual to avoid data ambiguity and offers individual more control over their data.
What do you like best about KYC Block?
Digital identity Management Solution, Anonymity management, Data Protection - Protect documents from fraudulent activities. Data Deduplication, Real-Time Editing, Remote Document Access
What do you dislike about KYC Block?
Price is high
Alternatives of KYC Block
Explore alternative software options that can fulfill similar requirements as KYC Block. Evaluate their features, pricing, and user feedback to find the perfect fit for your needs.
KYC Block FAQs
How much does KYC Block cost?
The starting price of KYC Block is ₹ 2160000/One Time. It has different pricing plans:
- KYC Block : ₹ 2160000/One Time
KYC Block also provides a free trial to users.
What are the top 5 features for KYC Block?
The top 5 features for KYC Block are:
- Audit Trail
- Document Management
- Data Security
- User Management
- Application Integration
What type of customer support is available from KYC Block?
The available support which KYC Block provides is: