ShareRing Financial Services Enhancing eKYC Process for Smooth Registration

As per a recent announcement, ShareRing now makes uploading government-issued identity documents, such as national identity cards or passports needed during the eKYC onboarding process, more fluid. This enhancement is a refreshing development for new and old users who use ShareRing Financial Services. Earlier, they were redirected to the ShareRing Vault to upload their identifying details. However, they also had to repeat the same procedure during the eKYC onboarding process. ShareRing pointed out this lapse and the resulting inconvenience.

According to ShareRing, users can have a more personalized experience using this service due to changes made for better onboarding. During the registration, not only can users take and upload a single page of their documents, but they can take photos and upload as many pages as required if those pages are especially needed. The only requirement that users should consider before proceeding is that they should upload the most recent versions of their identity documents. Details of expired documents uploaded to the Vault will be removed, and users will be asked to upload up-to-date and valid details. 

The platform has also said users are free to name their documents, select type, and state the issuance date in the non-custodial and ShareLedger-based ShareRing Vault. The Vault is one of the core components of ShareRing. Users can control their critical documents without relying on a third-party agent. The naming and organization of documents in the Vault give more latitude and personalization to users. 

ShareRing is also taking user convenience a notch higher. It has also revealed that users are free to print their uploaded documents from the Vault. Because of this feature, it will be effortless for users to retain a physical copy of the original document without necessarily having to hold the genuine document at hand.

Financial institutions will constantly monitor applications and receive real-time notifications on users who have uploaded documents as part of KYC. Since tracking is easier and users are confident that they still retain control of their personal information, the time required for processing is lower, thereby saving on resources. eKYC capabilities from ShareRing will first be launched and applied by Teachers Credit Union in the Caribbean. 

Earlier, ShareRing announced the launch of Skinny ID for a frictionless onboarding process of new users into the ShareRing ecosystem.


Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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