Blockchain Financial Services start-up creates tokenized biometrically-validated KYC and AML for ID and crypto wallets via mobile and online devices
Toronto, Ontario–(Newsfile Corp. – February 28, 2018) – Crypto KABN Holdings Inc. (“Crypto KABN” or the “Company”) an innovator in financial services, technologies and products for the blockchain industry, is pleased to announce that it is launching a revolutionary Blockchain-enabled biometric validation platform, called ID KABN, as the first component of its suite of financial and technology services, at the FFCON18: Velocity Conference in Toronto on March 5, 2018.
ID KABN simplifies Blockchain attestation, the process of validating that information provided to support identification verification is truthful. This can minimize and / or eliminate fraudulent activity. According to Nilson Report, published in October 2016, credit card fraud worldwide totaled $21.84 Billion in 2015.
“ID KABN allows consumers and vendors to engage in a trusted manner, where each party can effectively guarantee the user’s identity,” said Mr. Ben Kessler, CEO — Crypto KABN. “ID KABN verification and registry services can be used whenever immutable information is required. Initially, we are focused on delivering solutions for the financial services sector; however, we are evaluating government, healthcare, and other sectors,”
Javelin Strategy & Research reported in 2016 /2017 that identity theft, as a form of fraud that often results in unauthorized credit card and debit card transactions, was at a 6-year peak at 15.4 Million in 2016, up 6.7% from 2015. The ID KABN solution can potentially minimize and / or eliminate this and other types of fraudulent activity, including eCommerce fraud, as it provides a compliant, KYC / AML biometrically-enhanced user identification.
ID KABN provides consumers with an easy-to-use biometric identity and third parties whitelisted registries. Users can scan any one of up to 1,600 documents from over 180 countries, which can then be instantly validated and combined with personal biometric ID Keys, including face, fingerprint, voice print, video print and digital signature, to create a unique and immutable record of an individual’s identification.
ID KABN provides:
- Biometric ID validation and full KYC (Know You Customer) and AML (Anti-Money Laundering) verification that is appended to their ID KABN identity.
- Whitelisted jurisdictional registries that can be used by third-parties to instantly verify the consumer.
- Crypto wallet integration, allowing users to both validate their identity and wallet for seamless integration into select cryptocurrency and exchange offerings.
The ID KABN solution is compliant with PII and GDPR protocols.
“While many existing attestation solutions use schemes that allow users to see what kind of authorization they are giving to a third-party application, ID KABN allows the consumer to control their identity through biometric data and third parties to access any verification through smartcontract registries.” says Gary Schwartz, Managing Director of Pegasus Fintech, Inc. a leading accelerator in the blockchain space. Gary will be presenting ID KABN and leading a panel of Blockchain experts at the FFCON18 conference.
About FFCON18: Velocity
FFCON18: Velocity, presented by the NCFA (www.ncfacanada.org), is focused on blockchain, cryptocurrency and alternative investing and will be held on March 5-6 in downtown Toronto at the Design Exchange and partner sites. FFCON18: Velocity is the expanded 4th annual of Canada’s leading financial technology and funding conference. brings together leaders and decision makers at the intersection of finance, technology, entrepreneurship, innovation, investors, and global digital communities.
About Crypto KABN Holdings Inc. (Crypto KABN)
Crypto KABN is an innovator in financial services, technologies and products for the blockchain industry. Our mission is to disrupt traditional thinking about solutions for identity verification, storage and financial card services by providing meaningful and relevant products and services to accelerate adoption of blockchain-based solutions.
The Crypto KABN suite of solutions include:
IDKABN — Biometric Identification and validation
Hot KABN — Active storage solutions for blockchain-based data
Cold KABN — Offline storage solutions for blockchain-based data
Card KABN — Interactive financial solutions for cryptocurrency and fiat programs
For Further Information, please contact:
Mr. Ben Kessler, CEO
Crypto KABN Holdings Inc.
Mr. Gary Schwartz, Managing Director
Pegasus Fintech, Inc.