FastKYC
A decentralized KYC platform that simplifies identity verification for both businesses and customers.
Created on 6th February 2025
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FastKYC
A decentralized KYC platform that simplifies identity verification for both businesses and customers.
The problem FastKYC solves
FastKYC – Decentralized KYC Platform
KYC processes are slow, repetitive, and costly for both businesses and customers. Users are required to re-upload documents and undergo verification every time they sign up for a new platform. Businesses struggle with high operational costs, fraud risks, and compliance challenges due to manual verification processes.
What FastKYC Solves
One-Time KYC, Multiple Uses: Customers complete KYC once and can use it across multiple platforms, eliminating repetitive verification.
Faster, Fraud-Proof Onboarding: AI-driven OCR and facial recognition provide accurate, real-time identity verification, reducing approval times from days to minutes.
Seamless Business Integration: A plug-and-play solution that allows businesses to quickly adopt FastKYC with Google login and Aptos blockchain-based identity management.
Privacy & Security First: Utilizes blockchain to ensure data integrity and compliance, reducing the risks associated with centralized data storage.
Cost-Effective & Scalable: Automates the KYC process, lowering costs for businesses while ensuring compliance with regulatory standards.
FastKYC simplifies, secures, and accelerates identity verification, making KYC efficient and reliable for everyone.
Challenges we ran into
Limited Access to Credits – We faced constraints in acquiring sufficient computational resources, but we optimized our approach to ensure efficient usage.
Lack of Government APIs for Verification – Since official APIs for document validation were unavailable, we built our own AI-driven verification system to ensure accuracy and security.
Tracks Applied (4)
AI & ML
Grand Prize
Web 3.0
Aptos
Aptos