8th October – Lancor Scientific, a company that is using blockchain technology to detect early signs of cancer, is undergoing an Initial Coin Offering (ICO) to secure up to $20 million of funding. As part of this ICO, the company will be verifying all investors through integrating Credas’ Identity verification technology.
Robert Elding, Chief Marketing Officer at Lancor Scientific, says: “As part of our ICO, we wanted to ensure our Know Your Customer and Anti-Money Laundering checks were robust. We looked at a range of providers in this market and Credas stood out from the competition because of the flexibility and speed of API integration it offered. They also provided us with a bespoke piece of functionality so that we could truly integrate the technology with our existing systems, and maintain a consistent user experience by white labelling the technology.”
Rhys David, Chief Executive, Credas, comments: “Working with Lancor on this integration has been a great experience for us. It’s allowed us to further explore our integration offering and develop bespoke functionality, we were also able to do a full white label service for an extremely innovative business. We are incredibly pleased with the result and are looking forward to helping other businesses enhance their offering by integrating the Credas tech.”
Launched in May 2017, Credas has developed a suite of products and services designed to cut the time and cost it takes to verify someone’s identity by using real-time facial recognition. Credas enables any business that needs to verify ID documents and match the photos on those documents with the actual person, in real-time.
The Credas verification process consists of three simple steps – a selfie, a picture of the photo ID and a liveness test. Credas does the rest of the work, with many facial recognition and ID authentication algorithms working in the background. The liveness test then ensures that the person is present when the verification photo is being taken.