Opendata, web and dolomites

VerifiedID

The online platform for Identity Verification that gives back personal data ownership to the citizens

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

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 VerifiedID project word cloud

Explore the words cloud of the VerifiedID project. It provides you a very rough idea of what is the project "VerifiedID" about.

consumers    verified    contract    solutions    aml    unambiguous    close    longer    boost    banks    global    customers       expires    reshapes    verification    anti    relationship    regulation    consuming    gross    few    funds    insurers    regulated    store    regulations    minute    newbanking    accurate    compliance    signing    position    imposes    investment    identity    innovation    updated    complete    17    rules    33    sharing    heavy    citizens    workflow    gdpr    consent    turnover    placing    successful    privacy    fitting    businesses    centralises    onboarding    obtain    accumulated    hold    post    transparency    personal    protects    platform    once    urgent    costly    simply    money    estate    laundering    kyc    services    protection    starting    grant    time    customer    generate    annual    security    revoke    comply    profit    stipulating    company    data    million    currently    fines    clicks    eur    complexity    financial    compliant   

Project "VerifiedID" data sheet

The following table provides information about the project.

Coordinator
NEWBANKING APS 

Organization address
address: APPLEBYS PLADS 7
city: KOBENHAVN
postcode: 1411
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Denmark [DK]
 Project website https://newbanking.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2018
 Duration (year-month-day) from 2018-11-01   to  2019-03-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    NEWBANKING APS DK (KOBENHAVN) coordinator 50˙000.00

Map

 Project objective

Currently, the management of consumers’ personal data is a complex process particularly for the financial sector, which must ensure to hold accurate, verified and updated data to comply with the Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This complexity is present all throughout the relationship with consumers, starting with heavy, costly and time-consuming onboarding processes. Moreover, the EU General Data Protection Regulation (GDPR) imposes new rules on businesses that store customers’ data, stipulating that they must have unambiguous customers’ consent before sharing or processing their data, which protects EU citizens data privacy and reshapes the way that organizations approach data security and privacy. Non-compliant organisations can expect fines of up to €20 million or 4% of annual global turnover. Thus, there is an urgent need for solutions that simply customer onboarding workflow and make easy to obtain consumers’ consent for data processing.

NewBanking Identity centralises the EU GDPR, KYC and AML compliance, fitting the needs of banks and other regulated services as investment funds, insurers and real estate. Our identity verification platform allows consumers to complete onboarding processes for signing up to banks with only a few clicks (less than 1 minute) while also providing control and transparency over how their personal data is used, allowing to grant access to the data and revoke it when data access is no longer required (e.g. once the contract expires). The successful implementation of the innovation project is expected to boost the company’s growth, placing NewBanking in a strong position to generate over 33 million EUR in accumulated turnover and close to 17 million EUR in gross profit, 3 years post-project.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "VERIFIEDID" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "VERIFIEDID" are provided by the European Opendata Portal: CORDIS opendata.

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