Unknown Speaker 0:00

And superconn complaint.

Unknown Speaker 0:05

Perfect.

Unknown Speaker 0:05

And I believe you received the questions. Simon chin.

Unknown Speaker 0:11

Yeah, I just received the five minutes ago or whatever.

Unknown Speaker 0:15

Okay, so we good to go. So we'd be talking to them. And probably I'd be recording
the call, you know, kind of maybe transcribe and writing out the story. Would that
be okay with you?

Unknown Speaker 0:26

And? Yes,

Unknown Speaker 0:27

both.

Unknown Speaker 0:30

So we start the demo.

Unknown Speaker 0:34

Yep, please. Perfect.

Unknown Speaker 0:36

Here we go. So let's start with kind of let's let's start with the very
storytelling angle, kind of, if you have any angle in your mind at Is there any
particular story angle you have in mind, you'd like to see or you'd like us to get
the story flowing that way, any kindness, specific angle you have?

Unknown Speaker 0:59

Well, I think identity in general and privacy are large scale transglobal that we
are in the crux of we're in the middle. And we believe that our solution allows
companies to be more compliant, faster and easier and cheaper than any other
solution out there. With both identity requirements, and privacy regulations.

Unknown Speaker 1:34

And that leads to a lot of additional things that can happen in the future, like
better compliance, oversight, better audit capabilities, external and internal
reduction of operational costs and headcount, if necessary, in other aspects that
can be very valuable support positions today, try to become more efficient, more
online, and more valuable to their end customers.

Unknown Speaker 2:08

Perfect.

Unknown Speaker 2:09

And when you talk about the innovative landscape, what What challenges do you see
still keeping CIOs, CEOs, if you will? A poll we can deny What challenges do you
see prevailing in the sector? It'd be great if we could shed some light, if you
could talk to me in details and exactly how how does really mitigate kind of all of
them, if you will?

Unknown Speaker 2:37

So the idea, the idea is that some of the challenges that are being faced today by
CIOs, CTOs, chief information security officers, right cisos compliance officers,
privacy officers and so forth, are have to do with identifying the counterparty in
a way that's better than what's out there today. Is that for financial regulation,
that for security regulations, and so forth, it I think that's very important given
COVID situation that we're in, but also the increased regulatory oversight on any
organization that deals with movement of funds, or personally identifiable
information around the world. So that's one of the biggest concerns that we are
addressing by by having superior technology to evaluate the individual and company
that is attempting to open an account or interact with the organizations we serve.
And the second part of it is the privacy regulations that are increasing globally,
on multiple levels. And how organizations today are able to shift the burden of
privacy compliance to a point where they have little to no concern, or any concern
about the authenticity of the data, the location of the data, access to the data,
and users ability to interact with the data as required by the regulators. So it's
not the solution that solves all their problems. I wish it was I don't think there
is one. But it is solution that addresses many of the concerns that have with
identity management, with counterpart understanding and validation, document
processing, so forth, and on the other hand, takes care of the privacy apparatuses
and infrastructure that's required to be put in place in order to allow these
organizations to remain compliant over the long term, and this can be applicable to
any of these privacy regulations, even as they relate to student information,
patient information. And obviously the financial industry and others use your
customer information.

Unknown Speaker 5:08

Perfect, right. So when he talks about that, you know, kind of how he kind of
double clicks in solving these challenges. Let's talk about let's let's talk about
the very first platform, if you will, exactly how you are trying to disrupt the
market, or kind of how you are challenging the traditional ways of how the
companies used to fend off the security concerns, how they used to perform
background checks. And then we'll go in details and talk about your solution, which
will be the real flesh of the story, something some something on the platform.

Unknown Speaker 5:47

So while I'm kind of missing a little bit, so the disruption happens by the ability
to create an unmatched ability to really identify the counterpart, whether it's,
you know, deep fakes, or video KYC, or credential verifications, or background
checks, we have a holistic view of what digital identity is. And in our view,
digital identity is not just scanning someone's identity, or capturing someone's
selfie, it's a much more holistic view of the different parts that make us who we
are. It's a three dimensional digital image of individuals. And companies that are
then used by corporations or even government organizations or other organizations
to validate that the counterparty that they're dealing with, is who they claim to
be, in whom the organization thinks they should be. So that's one aspect of really
disruption that stays because even though they are KYC, providers, and they are
what called with, some of them call themselves identity providers, they provide
just one aspect of someone's identity and immunization identity. And that's
insufficient, in our view, to really determine that you are working with the entity
that you're working, there's a lot of fraud there, it actually online fraud has
increased exponentially, almost during COVID. So being that we are in an online
world today, these challenges are even larger. So that's one area and the second
area is privacy, in how we affect the ability of organizations to offload the
private data to individuals in a staged approach, and thus providing themselves
with higher levels of compliance with each and every privacy regulations that
currently is around the world. And that's a really disruptive concept where we are
able to provide this infrastructure to organization, an easy to use and easy to
implement, methodology that enables them to really shift the responsibility of the
data outside of the organization.
Unknown Speaker 8:03
Right, that's perfect. Now, now, let me read an excerpt from your website. And it
was quite intriguing. And that's the main reason I picked it up here. are scanning
technologies cover all major global lining documents, which are processed using our
lead OCR and machine learning technologies? Would you like to shed some light on
your KYC solutions?

Unknown Speaker 8:28

Yeah, so some of our some of the components of our KYC solution, as I said, are
highly advanced. And there are I would say, the best the top of the solutions in
the world today. There are some that similar but we really do think that we are
able to use machine learning and AI in order to really ensure that the documents
that we're looking at are assessing where we're uttering that they're coming from
the cup, the country that they claimed to be coming from, and they don't match to
the user who is presenting them. And that sounds straightforward, and, and almost
commoditized into this world. But there are a lot of claims out there of these
capabilities. And we've seen multibillion dollar players in the space. It provides
accuracy of 20%. It's below processing these types of documents, our accuracy rates
are well above 95%. So that's a transformational shift in the ability to process
these things very quickly, and very accurately, and provide the real comfort to the
organization, that the data that they're receiving from us and from their users is
prophetic and can be audited in ways that are not available otherwise, elsewhere.
So that's from the KYC perspective. As part of our solution, we really believe that
that's unique in this market. The selfie capture technology, the matching of that
information. It's some of the things that we are currently developing technology
that we use, including blockchain, including other things that are in the
background, really transform the reliability of the data that we generate from the
scanner versus other planets.

Unknown Speaker 10:30

Perfect, right. I guess, when you talk about the gear wheel and all, it really
brings me to the next question, again, another line from a website. And it's pretty
intriguing. We screen end users against the playoffs engine databases, SOS from
regulatory authorities, third parties and government sites from around the world.
This include with se eu, UK with a fi and hundreds more at would you also like to
elaborate? Would you also like to make explicit the features of verifies AML, slash
sanctions, fears and illusions and its benefit

Unknown Speaker 11:04

here? Yeah, so we include them all in sanctions. AML is part of that, obviously,
anti money laundering. But we scan against multitude of sections. In other
databases around the world, we ensure that our information is scanned in real time.
We match that information to the information gathered from the identity documents
from the user entry fields, and from other documents. This can change on a regular
basis. So we provide this service on an ongoing basis to several of our clients,
where they can come in and have scans run with their users or clients, or customers
on a regular basis. As they define, you've had scenarios where people have asked us
to scam us up on a weekly basis, monthly basis, quarterly basis, annual basis. Or
just one time the client needs. And those databases that are available, as
mentioned on that, quote, can be also customized for each client. So some countries
require certain databases to be scanned. Some companies are doing as required by
law. And some of them are going way beyond what's required by law. So it really
depends on the customer. And we have full flexibility to serve all of these needs
and appropriate request.

Unknown Speaker 12:29

The dust and dozens more question Perfect. Now I guess after we talked about
solution, I think let's get a very detailed pragmatic view or let's let's see your
actions help as much as possible in action. I think it's a great time to talk about
a case study, if you will, it'd be great if you could talk about the basic format,
like the challenge, the solution you offered and kind of the outcomes your client
experienced. Is that possible? If it's an NDA with your client talk, you can talk
about its vertical.

Unknown Speaker 12:59

I might make sure that I understand. So you're asking me now to ask for the case
study or, or you want to just overview of the client of the solution through

Unknown Speaker 13:12

a case study accompany the total case study, challenge solution and outcomes. If
it's possible.

Unknown Speaker 13:19

Yeah, yeah. So we we got

Unknown Speaker 13:23

sorry, please go digital.

Unknown Speaker 13:25

Yeah, so for example, one of our clients in the financial onboarding their
customers on a regular basis. And they need for compliance purposes, and also for
additional future purposes, to really have a reliable identity screening solution.
For those, so what we do is, we provide them with an interface that they can use to
integrate into their system that interface with their their first line of defense,
then they integrated that first solution via an API into their back end
infrastructure. And they've designed their own screens, reporting functionalities,
and dashboards based on the data that we've provided them. The system has been in
production for over a year now. And this allows them to see the different levels of
data that's collected. If they wish to, they could go into full depth, full view of
PII, again, as required, by law from their perspective, or external auditors, or
they can have other views that include less information if necessary. So they were
very happy with the solution. They've been using it extensively. And it gives them
that peace of mind that from the compliance perspective, they're covered there,
they don't have to worry about it. There's full audit ability. The customer service
agents can interact with their customers need to not interact with their customers.
directly. They're very happy with that. We also developed our four Mobile SDK
solution. Right?

Unknown Speaker 15:11

And look at what surprises in store for veryfi. What kind of roadmap? Are you
looking at it?

Unknown Speaker 15:22

So, so it's a good question we we've been using various qualities I mentioned, Ai,
OCR, skin, blockchain, all of these solutions have many ways to improve OCR, it's
probably the most solid technology that, you know, is more, it has less development
needed there. But the machine learning aspects behind the images or images that are
captured is very advanced, and we keep on continuously improving it. We are using
machine learning and AI to improve the knowledge of the users that we process and
the companies we process. So we create higher levels of proficiency all the time.
On a recent survey that I was part of which offer financial services audience, it
was a notation that 41% of the participants were concerned about the paper
processing of KYC and AML. And obviously, our solution can mitigate all of these
concerns. But there are organizations that are using some sort of technology to
process user data. And we believe that our existing solution and future
developments can really help them, enhance their efficiencies, reduce their overall
cost, improve client relations, improve privacy and regulatory compliance. So we're
constantly developing these additional layers that provide assurance of the data
integrity, but also, at the same time, increasingly improve user privacy
compliance, company corporate privacy, compliance, and the ability of organizations
to provide their consumers with something that's not available today, which is
control over their documentation. Right.

Unknown Speaker 17:17

No, no, no, let me ask you a very interesting question. It's kind of off the people
it it's not in the question. Would you like to draw an analogy between your
personal life and your professional life? I have interviewed people who have
thought of thought like, when they were young, they kind of had this fascination
with globes maps. And later on in their life, they became the domain top to the
GSI, industry, GPS, you know, anything analogous analogy, any kind of pedal, if you
will, would you like to draw between your job life and your life, which kind of
really keeps you going, if you will?

Unknown Speaker 17:53

Well, the two things one is, as a kid, I was always fascinated with computers. But
I was also fascinated. So I started early on. And before I was 10, I was
interacting with computers, building computers, and so forth. But since since then,
I've realized that it's early age, if I want the computers to serve the individuals
versus the other way around. And what we're trying to do with verify is to create a
system that's easy to use, no matter if you're 10 years old, or 95 years old. It's
simple, easy, intuitive to use. And it doesn't matter what technology is behind it.
And more we make the technology simple, easy, user friendly, friendly, the more
adoption will see. And the more satisfaction we'll generate from our clients and
end users. And that analogy of having the ability to technically break something
apart and put it together. It's wonderful. Like most people just want something
that works in his job faster and better and cheaper than what is out there today.
And that's what we're delivering and verify. Right? Right. Perfect.

Unknown Speaker 19:08

Okay, perfect. That's a good one. So apart from all this, anything, would you like
to add a highlight? I might have missed out in this question or any any special
thing? Probably you'd like to get hung up, get those highlighted and article throw
extra light on?

Unknown Speaker 19:25

Yeah, I think one of the things that I want to highlight is the fact that we have a
growing team. And some of the members of the team has been have been with me for
years. And they've helped me build this. This is not a one man shop that I've
developed everything and all the ideas of mine. So this is a very intellectually

Unknown Speaker 19:48

intellectually intriguing conversation that happens all the time between me and the
rest of the management team and junior team as well. And ideation is free flowing.
And we use that constantly to improve In our product, and we use user feedback and
customer feedback for us, you know, outside parties like yourself is feedback
providers, when we see opportunities or when they see opportunities to improve on
the product. So this is not just this is an echo, and everybody else, it's
secondary. This is a team effort that has brought about a product and solution.
That's better than what's out there today and will continue to be better in years
to come.

Unknown Speaker 20:34

Right, perfect. I think we're good. I've got good material. And what would be the
next step is I have recorded this car, my team would transcribe and get started
writing on it. Once it's done, I'll have it to you for you edit, you put your
feedback, you send it to us. And once it's good, we run for the print. Sounds good.
Wonderful.

Unknown Speaker 20:55

Wonderful, wonderful. Thank you very much, Joe. I appreciate it.

Unknown Speaker 20:58

No worries. A great speaker. Thank you so much.

Unknown Speaker 21:02

Thank you

Transcribed by https://otter.ai