ShareRing Link: Enterprises need reputable information in order to remain compliant with regulations

‍

Information is freely accessible across the internet, however with the rise of Ai technology and advancements in fraudulent content it is ever more important for businesses to have access to verified information. ShareRing Link is a digital identity management platform that ensures credibility with information a business receives from their customers. By leveraging institutional grade verification technology, which has also been certified under the United Kingdom’s Digital Identities and Attributes Trust Framework, businesses can confidently engage with their customers across the internet whilst also streamlining their day to day digital interactions.

‍

As with many businesses, there is a need to comply with regulatory requirements around knowing your customer (KYC), customer due diligence (CDD), and identity verification, eg age restrictions. Failure to comply with the due diligence requirement can result in heavy fines, reputational damage or even a prison sentence and withdrawal of your business permit. 

‍

For businesses bound by these requirements, it becomes pivotal that the information they receive from their customers/users is pre-screened and carries a high degree of trust. As mentioned earlier, there is a significant increase in fraudulent data and misrepresentations in a digital environment, and mitigating risks associated with false information becomes ever more important.

‍

Link was designed to counteract these challenges, particularly for businesses that are undergoing a digital transformation. Much of the time, a business needs to have the correct infrastructure technology in place to successfully migrate its conventional operations and customer relationships from the traditional model over to an online environment. This means having trusted verification technology, seamless technology integration, efficient data exchange workflows, highly secure and safeguarded digital environments, and customer friendly user experiences.

‍

With Link Premium, businesses have access to ShareRing Verified and ShareRing Checked information, which have both undergone a series of verification checks to ensure that the information matches the user. These two categories of information are crucial for businesses that need to comply with KYC, CDD, and age/identity verification requirements as it provides a source of pre-screened information for the business to work with.

‍

Pre-screening is vital for any digital business, not only because it provides a source of trusted information but also significantly lowers the risk of dealing with fraudulent data, as well as handling excessive paperwork. Key benefits include:

1. Accurate decision-making: Verified information provides enterprises with reliable and trustworthy data that they can use to make informed decisions. With verified information, businesses can better understand their customer profiles, and access more accurate and reliable data, leading to better trend analysis and strategic decisions.
2. Risk mitigation: Inaccurate or false information can lead to significant risks for enterprises. By relying on verified information, businesses can reduce the risk of making decisions based on flawed data. This is particularly important when it comes to financial investments, regulatory compliance, and legal matters. Verified information helps enterprises identify potential risks and take appropriate measures to mitigate them.
3. Reputation management: Enterprises strive to maintain a positive reputation, as it plays a crucial role in attracting customers, investors, and partners. Verified information ensures that businesses' decisions are based on accurate and reliable facts about their consumers. This helps build trust and credibility among stakeholders, enhancing the overall reputation of the enterprise.
4. Compliance and legal requirements: Enterprises operate within a complex web of regulations and legal frameworks. Verified information ensures that businesses comply with industry-specific standards, government regulations, and legal obligations. By relying on accurate data, enterprises can avoid penalties, legal disputes, and reputational damage associated with non-compliance.
5. Competitive advantage: In a competitive business landscape, having access to verified information can give enterprises a significant edge over their competitors. By staying updated with accurate market intelligence, enterprises can identify emerging trends, customer demands, and competitive strategies. This enables them to adapt quickly, innovate, and outperform competitors in the market.

‍

ShareRing Link Premium start at $490USD / month (20% off if paid annually).