Nebraska News Desk

New Technology to counter fake identities and documents globally wins the global banking innovation award 2019

March 14
19:36 2019

Seattle, Washington – March 14, 2019 – A new technology that can verify any person or any document online directly from any original source around the globe won the top innovation award at the Annual Banking Innovation Ignite 2019 – DEMOvation challenge held at Hyatt, Seattle, Washington. (https://bankinnovation.net/)

“This global award shows how big of a challenge Identity verification has been, for both fintech’s and regulators, and how elegantly this new technology really solves it,” says Vishal Gupta, founder & CEO of Diro, who presented the new technology to the Industry experts that included Innovation heads of global banks.

The competition was organised by Fintech INV accelerator based in New York and the 6 global finalists were required to Demo their technology to the Industry that included executives and Innovation Heads of globalBanks & FinTech. The top two innovations having the maximum votes from the audience were then questioned by an expert panel of 3 judges on stage. The two-day event was held at Hyatt in Seattle and sponsored by Fiserv, IBM, CCG, HyperScience, and Clinic.

Diro (www.diro.io) has filed over 15 global patents in identity technology that forgoes uploading of Photo ID or videos when proving identity online. The Diro technology allows businesses to leverage existing KYC done by any government, banking or utility company around the world. This is a fully compliant way for KYC as it confirms the Identity information directly from the Original Sources and makes it completely tamper-proof thru blockchain. The international AML laws require companies to obtain “Independent & Reliable” information as part of their due-diligence checks, which Diro solves for.

Internet today is a wild-wild-west as it is possible to fake or steal anyone’s identity information and is hard to catch these criminals behind fake accounts, fake news, and fake reviews. Diro uses blockchain to capture the successful authentication of a user against any third party website like the user’s bank etc. It further extends the time-tested SSL/TLS technology, that powers today’s global ecommerce, in combination with blockchain to capture the authenticity of the profile information and making it almost impossible to hack.

“Diro’s technology is not only better than video KYC but has the potential to be better than in-person KYC, as it captures data directly from its original sources,” says Per Jirstrand, CEO of Block5 Ventures. (www.block5ventures.com)

This is the third big accolade won by the start-up including the Blockshow Asia organised by Cointelegraph and the National Award in India presented by the Cabinet Minister of Commerce.

Diro is funded by the leading consumer tech VC in India and the UK government R&D credits, and is now focussed on scaling the business internationally.

Media Contact
Company Name: Diro Inc, Delaware
Contact Person: Vishal Gupta
Email: Send Email
Phone: +91-9811847425
Country: United States
Website: www.diro.io

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