Optimizing KYC for Businesses with QoreID
One of the major challenges that comes with conducting business online is internet fraud. People use fake identities or provide wrong information over the internet in order to commit crimes that would otherwise have been difficult when transacting physically. QoreID’s goal was to close this gap with a regulatory and compliance software that allows business to verify the authenticity of their customers identity and reality, as well as the credibility of their biodata by cross referencing the customer information provided with that on government databases all done in real-time (via APIs and SDKs integrated seamlessly into any business's application).
Lead Designer
2022
Reg Tech
Challenge
Setting up verification services for compliance or background checks can easily become tedious because of the level of detail involved. We needed to design an app that digitized and met the varying needs of different use cases without making the process complicated.
Process
Research & Analysis: We conducted user interviews and surveys to understand the pain points and user needs. We also studied competitor apps and industry trends to gather insights
Some of our Key Findings included:
Our users requirements was within a finite range of objectives regardless of their industries. The documents to be checked as mandated by regulatory requirements varied across industries but the objectives were generally the same
End users (people to be verified) had different government issued identity documents and they needed the flexibility of being able to choose which one they had to complete these identity checks.
These verification and KYC checks had to be a seamless part of onboarding journeys in such a way that the end users didn’t feel like the verification process was an additional and separate process.
The verification process had to be very short and completed in real time where possible such that these end users could be onboarded and verified within minutes so that they had full access to our users products and services immediately.
Early Sketches & UI Design: Based on the findings from our research, we came up with wireframes and lo-fi designs that we tested with a small group of users.
Hi-Fi Design
We made changes to the design based on the result of the tests and came up with a Hi-Fidelity Design that we eventually launched with.
Key Learnings
Some of my key learnings on this project were:
Quality products are a result of successive iterations. The current version of QoreID is better than it’s initial versions and is a result of continuous improvement through continuous research, testing and implementation.
Usability Testing is an invaluable part of any successful product design process. We were able to refine our ideas based on results of tests carried out with users.
Maintaining effective communication and collaboration across team members on all levels at different phases was the key to successfully building QoreID. My major success on this project was ensuring synergy within the team to meet our goals and key objectives
Positive results and much more to do
The design and deployment of QoreID has been successful and generally impactful in making verification checks more robust and seamless in this part of the world at the time of writing (5 months after launch). However, there’s still a lot to improve on and continuous efforts are being made in this regard. Some of our positive results are:
Onboarding and verifying end users takes less than 5 minutes to start and complete
Our users are now able to create verification workflows easily based on their specific use cases to use to verify their customers.
Our Users are now able to get key insights and analytics from designed verification reports to understand behaviour of their customers and make key decisions based on this.