Transforming Banking Services with ZADA
Welcome to the future of financial compliance and operations. xplore how Zada's innovative verifiable credentials technology is revolutionizing financial services.
Industry Challenges: Compliance, Fraud & Inefficiency
Regulatory Burden
Financial institutions face ever-increasing compliance requirements. Regulations change frequently across jurisdictions.
Sophisticated Fraud
Criminals employ advanced techniques to bypass security measures. Identity theft and account takeovers cost billions annually.
Operational Inefficiency
Manual verification processes create bottlenecks. Legacy systems struggle with modern digital demands.
Banking & Financial Institution Use Cases
KYC Compliance
Verify government IDs, proof of address, and KYC checks from trusted financial institutions for regulatory compliance.
Customer Authentication
Verify customer credentials for account access and transaction authorization, enhancing security while reducing friction.
Loan & Credit Processing
Verify income, employment status, credit reports, and property ownership for loan applications and credit assessments.
Business Banking
Verify business registrations, licenses, and source of funds documentation for corporate accounts and AML compliance.
Banking Customer Journey
Account Opening
Customer shares government ID and proof of address credentials
Loan Application
Customer shares income and employment verification
Mortgage Processing
Customer shares property ownership and credit report
Ongoing Transactions
Customer uses verified credentials for secure access
Banking KYC Journey
ZADA streamlines Know-Your-Customer processes, reducing verification time from days to minutes.
1
Scan & Connect
Customer scans bank's QR code, initiating a secure connection with the bank.
2
Share Credentials
Customer shared the verified documents already stored in their digital wallet.
3
Instant Verification
Bank instantly validates government IDs, proof of address, and other KYC requirements.
4
Digital ID Issuance
Bank issues customer digital ID credential, delivered directly to customer's ZADA wallet for future use.
Real-World Use Cases
Bank Account Opening
Cut onboarding time from weeks to minutes.
New customers complete verification once and reuse credentials.
Business Loan Approvals
Streamline document collection and verification.
Reduce approval time by 65% with pre-verified credentials.
Regulatory Audits
Complete compliance reviews in hours instead of weeks.
Provide immutable evidence of verification processes.
Cross-Border Payments
Simplify international KYC requirements.
Enable faster global transactions with verified identities.
Operational Improvements Across Processes
Speed
70% faster onboarding and approvals.
Integration
Seamless connection with existing systems.
Efficiency
Reduced manual errors and processing time.
Trust
Customer-controlled data sharing builds confidence.