A great way to get started although it may not scale well with the organization.
Use Cases and Deployment Scope
Being in the blockchain/web3/crypto space comes with ever-changing regulations or the lack thereof. IDnow has done a fantastic job of staying ahead of the market by becoming a bit of a thought leader. They have done a great job of garnering the public's trust with their well-documented process and it allows us all to feel confident that our KYC process is solid.
Pros
- Regulatory requirements.
- AML requirements.
Cons
- Customer service.
- Less buggy identification process.
- Wait time for support.
Most Important Features
- Regulatory Minimums.
- Wallet.
Return on Investment
- Positive: higher KYC success rates.
- Positive: less fear over regulatory requirements.
- Negative: lots of time and effort debugging from time to time.
