NexeraID: The Secure Middleware KYC/AML Solution for International Businesses

NexeraID
2 min readMay 3, 2023

NexeraID’s key features such as identity verification without holding users’ data, automatic detection of non-compliant users, and ongoing monitoring of user accounts make it an ideal solution for international businesses to comply with KYC/AML requirements and prevent fraud.

The challenge

KYC/AML requirements are becoming increasingly mandatory for businesses within the decentralized space to prevent money laundering and fraud, among other illegal activities. However, holding users’ sensitive data can be a liability and a risk for companies and users.

The solution

NexeraID provides a middleware solution for KYC/AML verification and authentification which is GDPR compliant and with option to not hold the user’s data. With its advanced identity verification system, NexeraID ensures that the user’s data is protected while also allowing businesses to comply with regulations.

Key NexeraID features:

  • Identity verification without holding the user’s data: NexeraID plugs with the best KYC providers to ensure that users’ identities are verified without holding onto sensitive information, protecting user privacy and data.
  • Customer due diligence: NexeraID automatically detects non-compliant users according to FATF and other guildelines & regulation that will come into force such as MiCA, ensuring that only compliant users are onboarded.
  • Perpetual KYC: NexeraID maintains an automated, integrated workflow of near real-time data checks. Identity verification rules can be updated as needed, adapting quickly and simply to changes in regulations, new jurisdictions, or rapid scaling.
  • Ongoing monitoring of user accounts: NexeraID continuously monitors user accounts, ensuring that compliance is maintained over time and reducing the risk of money laundering and fraud.
  • Improved international business credibility: NexeraID’s KYC/AML middleware verification system ensures that companies comply with international regulations, simplifying their cross-border compliance issues and making it easier for them to do business globally.

Benefits:

  • Increased data protection: Users’ sensitive data is protected with NexeraID’s advanced identity verification system.
  • Reduced liability: Companies can comply with KYC/AML requirements without holding sensitive user data and ensuring eIDAS, ESSIF and GDPR compliance.
  • Real-time risk mitigation: NexeraID enables more confident decisions based on reliable, timely data points. Businesses can accurately identify risks while reducing false positive.
  • Time and cost savings: NexeraID’s automated system saves time and reduces costs associated with compliance.
  • Improved business credibility: NexeraID’s compliance with international regulations increases business credibility, making it easier for companies to do business globally.

By leveraging NexeraID’s KYC/AML features, businesses can streamline their KYC/AML process, enhance their credibility, and protect their users’ privacy.

About NexeraID

NexeraID is a self-sovereign identity issuance and verification platform that empowers companies to seamlessly onboard users to Web3 using self-custodial or custodial wallets and streamline complex compliance workflows while safeguarding users’ identity and assets.

Find more on our website: https://nexera.id/
Follow us on Twitter:
https://twitter.com/NexeraID

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NexeraID

NexeraID is a self-sovereign identity issuance and verification platform that empowers companies to seamlessly onboard users to Web3