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<em>Smart</em> identity system development

SignD Identity GmbH is a globally acting tech firm founded in 2019 and based in Vienna, Austria. The company offers fundamental elements on the road towards digitalization: the digital identity check and a highly integrated onboarding solution. An increasing number of companies are required to audit customers during the onboarding process (e.g. KYC – Know Your Customer, AML – Anti Money Laundering). SignD offers effective and comprehensive solutions to bridge between consumers and service providers securing both parties alike.

“Digital Transformation” is probably one of the biggest challenges every business needs to cope with today. At the same time, many businesses are facing various forms of legal compliance requirements related to their products. Digital onboarding – the critical step of converting an interested party into an actual customer – is turning out to be the biggest stumbling block on the path to effectively selling products or services online. On the other hand, these hurdles also offer significant opportunities for growth.

Various studies show that customers abandon an average of [84 percent](https://www.salecycle.com/blog/featured/2019-retail-ecommerce-remarketing-report/) of online purchases or registrations in the middle of the process. In other words, current online sales of the retail market haven’t yet reached even 20 percent of their potential.

Thus, the vision of SignD is to enable corporations a proactive approach towards current and prospective compliance requirements and save their customers time and money by apprehending the changes in legal complexity and needs. 

![sd1.png](https://public.amsterdamstandard.com/sd1_a1f93baec7.png)



SignD has conceived an open architecture for a flexible, digital framework that is easy to expand and adjust to the wide range of customer’s needs. Initially, basic building blocks containing complex regulatory flows to gain proof of concept have been developed. Vested with that insight SignD approached Amsterdam Standards to mutually plan the implementation of the desired digital framework with all bells and whistles.

![sd2.jpeg](https://public.amsterdamstandard.com/sd2_6c8397fa06.jpeg)

The fundamental framework was taken operational even before SignD marked its first year. Using just a smart phone it enables instant self-serve identity verifications like “Proof of Identity”, “Proof of Residence and Income”, “Anti Money Laundering” including “Politically Exposed Person” checks and challenge deposits when needed.

After successfully going live with the very first clients, more features are to be added to the framework: Business identification, risk intelligence checks, “Qualified Electronic Signature” (QES) as well as “Payment Initiation Services” based on PSD2 and ongoing audits like “AML Monitoring” and other monitoring services are on the near-term roadmap. Moreover, each single audit routine will be improved continuously, assuring clients to use state of the art technology as wells as methodology without the need of manual adjustments.

Accepting legal documents from 200 countries and regions, the SignD entry-level services already provide proof of identity solution embedded within dynamic workflows following the very demands of each individual customer. The overwhelmingly positive market response confirms the need for user-friendly digital onboarding products that facilitate an easy connection between businesses and consumers.

Smart identity system development

The Dare Behind

Gathering Requirements and Set-Up

Framework Delivery

Further Development

The Achievement