Apz Sign is a KYC verification platform that leverages blockchain technology (Polygon MATIC) for document verification. The objective of the project is to implement the live selfie feature to authenticate a user and generate a relevant certificate. The certificate is validated using the blockchain technology.Check Out How
The app tries to simplify the approach of KYC. Instead of submitting/uploading documents every time, the user can do it in a few simple steps. The KYC verification platform leverages a decentralized system powered by blockchain for doing so.
The project had two major challenges, accuracy and duplication. We used artificial intelligence and hashing, respectively to resolve the issues.
The idea is to develop a KYC verification system that is accurate and saves users the hassle to do the same process repeatedly. For doing so, Apz Sign uses machine learning, AI model training, and hashing.
The business solution helps banks, organizations, and other institutions to authenticate the identity of a user quickly and reliably.
Accuracy is the most important issue in taking a live selfie to verify documents. There are many third-party solutions that can offer an accuracy of 60% to 75%. The AI model that we trained for the project, however, assures accuracy of up to 90%.
Another major challenge with Apz Sign is to prevent the uploading of duplicate or fake documents. This is mitigated by leveraging hashing. A hash of the document is saved on the blockchain that allows easy cross-checking of any certificate by simply fetching the corresponding hash of the same.
After the completion of a live selfie to document the authentication process, a certificate is generated. It contains the details of the KYC certifying company and the recipient.
A hash is generated and saved on the blockchain database. When organizations scan the certificate, a hash is generated that is matched with the hash already saved on the blockchain DB. Upon a successful match, the user is authenticated and the organization receives a notification/message for the same.
Apz Sign saves the hassle of repetitively verifying the same user identity for different purposes. It saves the user from uploading documents over and over again, may it be for bank identification, job application, or something else.
The documents are saved as their hashes on the server so that they can be easily cross-verified. A hash is automatically saved in the backend using a private key that is saved in the backend.
Simple documentation verification process
Uses blockchain and hashing
Offers 90% accuracy in taking a live selfie using a trained ML model
Prevents document duplication
Smart contract implementation
Blockchain is a modern technology that has the ability to revolutionize various industries. The worldwide spending on blockchain solutions crossed $6.6 billion in 2021, which is expected to almost threefold by 2024 at $19 billion.
The banking sector has the most spending when it comes to blockchain implementation. It requires extensive authentication to ensure the users stay safe from thefts and losses. Hence, authentication technology is also witnessing a rise in investment.
Apptunix has a decade of experience in developing mobile applications of varying sizes and types. Our team of experienced developers are well-versed in the intricacies and nuances of mobile app development. We leverage the latest technology to develop fully-functional and robust mobile apps.
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