KYCLink

1. PROJECTS QUESTIONS

Answers to question in this chapter are mandatory!

KYCLink is web application which uses AI algorithms and image processing to verify identity of a client.

In addition to this it’ll connect to Montenegro internal GSB network (General Service Bus) to verify national documents by their number.

System is composed of 5 main segments:

• Verification web page
• Admin panel
• API
• OCR - Optical Character Recognition
• AI live face detection service

Every bank uses it’s own internal client management system and there is no point in trying to change their main system. That’s why KYCLink can be connected via API to any existing bank system.

For every new client which requires KYC verification bank system will make 1 API call with email or phone number of their client. At that moment KYCLink will send verification link via email, SMS or Viber.

End client will be presented with KYC form when they open a link. It works on any device and no installations are needed.

When client completes all of the steps, our backend will process new request and send response via Webhook to the bank.

OCR is used to read uploaded documents and extract needed information. AI live face detection will detect is uploaded selfie a real image. If client is from Montenegro our system will query GSB and check that documents are valid. For other countries we’ll use partner systems.

In which stage of the development is your idea?

Early stage of development

How does your idea contribute to the improvement of financial services in Western Balkans 6 region?

Financial institutions will be able to comply to with KYC standards even if the client is not present physically. This opens a number of new opportunities for regional banks.

Institutions will be able to open accounts remotely, this will increase the number of companies founded.

What technologies does your idea rely on (please also specify programming

languages and frameworks)?

Web application is developed in PHP using the leading web framework, Laravel Framework. Certain frontend elements are using Vue.js and Vanilla JS.

Prototype is using Vision AI api from Google at this point. Our plan is to use Open Source AI models for OCR.

KYCLink can be implemented into any app or workflow. It’s super important for banks but also it can be used by other private companies which provide certain financial services.

KYCLink will prevent fraud using fake documents, fake personas or online attempts.

Marina - Competitive Analysis, KYC global solutions exploration.

Ivana - Domestic laws and regulations input. Insights how banks are doing this now.

Ivan - Development of the solution

2. BUSINESS MODEL CANVAS

Answers to question in this chapter are not mandatory. 

If you want your project description to be of better quality, we recommend that you answer as many questions as possible.

KEY PARTNERS

Who are our Key Partners?

Who are our key suppliers?

Which Key Resources are we acquiring from partners?

Which Key Activities do partners perform?

KEY ACTIVITIES

What Key Activities do our Value Propositions require?

Our Distribution Channels?

Customer Relationships?

Revenue streams?

KEY RESOURCES

What Key Resources do our Value Propositions require?

Our Distribution Channels? Customer Relationships?

Revenue Streams?

(Types of resources: Physical, Intellectual, Human, Financial)

VALUE PROPOSITIONS

What value do we deliver to the customer?

Which one of our customer's problems are we helping to solve?

What bundles of products and services are we offering to each Customer Segment?

Which customers needs are we satisfying?

CUSTOMER RELATIONSHIPS

What type of relationships does each of our Customer Segments expect us to establish and maintain with them?

Which ones have we established?

How are they integrated with the rest of our business model?

How costly are they?

CHANNELS

Through which Channels do our Customer Segments wants to be reached?

How are we reaching them now?

How are our Channels integrated?

Which ones work best?

Which ones are most cost-efficient?

How are we integrating them with customer routines?

CUSTOMER SEGMENTS

For whom are we creating valve?

Who are our most important customers?

COST STRUCTURE

What are the most important costs inherent in our business model?

Which Key Resources are most expensive?

Which Key Activities are most expensive?

(Fixed Cost [salaries, rents, utilities], Variable costs, Economies of scale, Economies of scope)

REVENUE STREAMS

For what value are our customers really wiling to pay?

For what do they currently pay?

How are they currently paying?

How would they prefer to pay?

How much does each Revenue Stream contribute to overall revenues?