Verifoxx provides identity verification as a service using Zero Knowledge Proofs, allowing businesses to comply with KYC regulations without requiring customers to share personal data. This technology enhances data security during customer onboarding and payment transactions, minimizing the risk of data exposure.
Funding
$300K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses are required to comply with KYC and AML regulations, which traditionally involve collecting and storing sensitive customer data, creating privacy risks and potential liabilities. Customers are often hesitant to share personal information due to increasing concerns about data breaches and identity theft.
Solution
Verifoxx offers an identity verification service that leverages Zero-Knowledge Proofs (ZKP) to enable businesses to verify customer identities without directly accessing or storing their personal data. This approach allows companies to comply with regulatory requirements while enhancing data security and minimizing the risk of data exposure. By utilizing ZKP architecture, Verifoxx ensures that customers maintain control over their data, fostering trust and streamlining the onboarding process. The platform supports identity, age, and payment verification, as well as automated transactions, providing a comprehensive solution for secure and privacy-preserving customer interactions.
Target Audience
Verifoxx targets businesses in finance, healthcare, education, and ticketing that require secure and privacy-preserving identity verification solutions to comply with regulations and enhance customer trust.
Features
- Identity and age verification using Zero-Knowledge Proofs
- Payment verification without requiring customers to reveal card details
- Automated transactions following identity verification for enhanced security and speed
- Blockchain-based network for maximum data protection
- Compliance with KYC and AML regulations
- Streamlined onboarding process for businesses