Providing its clients with a KYC processing portal, KYCbench has designed a platform which allows users to apply for multiple ICOs and services by verifying their KYC once with the KYCbench platform.
The client’s experience using KYCbench
After establishing any KYC/regulatory GDPR and ISO27001 requirements for each client, a customized portal will be designed and become accessible by the client and its users. By utilizing customizable fields, the client will be able to access reports generated through the KYCbench platform on its users while the actual documentation is itself encrypted using “Rijndael symmetric encryption” algorithm. The client will not need to access the documentation itself unless specified, and the user will be informed the client requires their KYC documentation in that instance. Usually in the instance the client does not need access to the KYC documentation itself, the client will receive from KYCbench a signed message/certificate for each users KYC validation status: Verified / Not Verified / Blocked.
The user’s experience using KYCbench
When a user submits their details and documentation on the platform, the information is encrypted using the “Rijndael symmetric encryption” algorithm. KYCbench controls access to decrypt this information and not the client. Unless specified by the client and with the user’s explicit agreement before participating in the ICO, the KYC information will not be accessible to the client. After the user submits his/her personal information with KYC documentation uploaded, the user is informed their information is received and the verification status of each document received.
Confirmation of action
KYCbench allows its clients and users to reliably establish whether an action has or has not taken place. Whether the client wants to generate a report on all verified / not verified / blocked users the user can see that request by the client. The client will be able to generate a report easily by inputting multiple fields to get further information. For example generating a report based upon client email addresses to see their verification status and what documentation is missing (if not verified for further follow up with those specific users). In other instances, such as confirmation of airdrop bounties for ICO clients, a report can be generated to show successful entries. The user would then be able to confirm this action themselves by checking their verification status for their airdrop bounty.
KYCbench offers an all-inclusive customizable service for each client’s needs while the user knows when their information is viewed and what information was viewed by entering a strong password and 2FA verification to view the confirmation of action. The information itself will not be accessible by the user at this stage. This stage would simply confirm the client viewed their KYC status. Users documentation would not be displayed in this instance (unless agreed to by the user before entering the ICO whitelist or airdrop bounty beforehand) but for confirmation of action will show the user that the client requested a report that their KYC was verified etc. This confirmation of action will eliminate the need for questions of whether the client has processed their KYC or has added them to the airdrop successfully etc.
KYC data transfer
The data transfer/view is triggered after verification to the tiers necessary for the ICO and/or bounty. The user will know when their verification is complete and will know that their information and/or outcome of verification will be shared with the ICO company / non blockchain enterprise itself prior to entering the data and supplying the documents. If agreed to by the user, the user’s personal information/KYC documents will be accessible to the ICO / non blockchain enterprise via the KYCbench platform. Held securely under encryption viewable only to authorized parties.