Hello Mifos and Fineract communities,
Thanks to all who attended the recent webinar on regtech led by Kareem at All Compliance Services - a screencast of that can be viewed at https://youtu.be/R2B1X9YufkI
The Mifos Initiative is going to be hosting another webinar from an external expert on topic that is fresh and actively being discussed on the list - digital identity.
Ken Banks, Head of Social Impact at Yoti, will be hosting a webinar on March 18 at 1400GMTvia GoToTraining (https://attendee.gototraining.com/r/6665674191802645506) to outline their newly announced five-prong social impact strategy - https://www.yoti.com/impact/
Please read their guest blog post, https://mifos.org/blog/explorations-yoti-digital-identity/, to learn more about their social impact strategy and the excerpt below on Yoti’s digital identity solution.
Please register to join the webinar and help define digital ID needs across the community - we are seeking organizations interested in piloting Yoti or the parallel efforts with Sovrin/Indy:
Yoti is your digital identity. A global identity platform and free consumer app that puts your ID on your phone. It’s the simplest, safest, fastest way to prove your identity online and in person. Founded in 2014, Yoti began a mission to become the world’s trusted identity platform. We’re committed to doing things differently to other tech companies – like promising to never mine or sell your data; Yoti is designed so that we couldn’t even if we wanted to.
With Yoti, you’re in control of your data. The Yoti app combines your ID document with your biometrics to create a single, secure, verified digital identity which you control using your phone. With a verified Yoti, people can prove their age on a night out, check out faster with age restricted goods in a supermarket, and save time and money proving their identity to businesses or individuals.
Yoti is reinventing the way you sign up and log in to websites too. Web forms and passwords no longer protect user accounts and data. That’s why Yoti uses your unique biometrics to stop fraudsters from getting their hands on your data, as well as removing the inconvenience of having to remember passwords for all the websites and accounts you use.
For businesses, Yoti is an identity platform which provides a faster, simpler and safer way to verify the identity of their customers for know your customer (KYC) purposes. It’s also a multi-factor authentication system, helping to keep businesses’ websites and customer information secure and compliant with new GDPR laws.
Once set up, proving your age, or who you are, takes seconds. Whether you’re buying or selling something on a classified site, verifying someone you met on a dating site, proving your age accessing age restricted online content, at a nightclub, bar or the cinema – Yoti makes the things you do every day safer, simpler and faster. It’s free and available to use for anyone over the age of 13 with an approved ID document.
The private keys needed to unlock and use your digital identity are stored on your phone, putting you in control of your data. Even Yoti can’t see the details you add to your Yoti once verified. That’s because Yoti encrypts each individual piece of personal information using separate cryptographic keys that are further encrypted with a master key that only you own and control. No copies of your ID documents are stored anywhere – we simply extract the information needed from the document.
Yoti is also committed to social change and recently launched a new Social Impact Strategy which you can read about here.