What is the Vault?

Previously, we concluded our two-part series on Digital Identities.

In this next segment of our ShareRing Business Solutions introduction series, we'll be delving into the Vault.

Think in your customers’ shoes for 10 seconds.

‍

When you ask them to scan and verify their identity digitally, what is their first instinct?

‍

We asked the team here at ShareRing Business Solutions, and 92% of our colleagues answered “stress”. If we use this as a base standard, then it’s a pretty poor user experience.

‍

There’s a reason why the initial response is stress, and it’s not what you’re thinking - it’s because your customers are struggling to find their IDs, cards, and documents.

‍

No one has their wallet and documents sorted, and it’s stressful to try and find something instantaneously.

Did we also mention, verification processes are usually repeated over and over again? 

Your customer’s verified ID is never reusable. That’s 2 strikes for poor user experience.

–

ShareRing Business Solutions (SBS) primarily builds customer verification workflows for businesses. What you and your business may not be aware of is that our solution is built around our holy grail product, the Vault.

‍

The Vault is the heart of your customer’s digital identity. After your customers go through the verification workflows, their next action is to store and manage the verified digital ID somewhere safe, secure, and private. That would be in the Vault.

‍

We use the term self-sovereign when describing the complete control and ownership of one’s information. For your customers, the Vault is self-sovereign when it comes to controlling their digital identity. Your business is not typically privy to your customer’s personal information, and it is up to them to control who has access, and who doesn’t.

‍

Don’t misunderstand - this is a major benefit for your business. In this day and age, the more data you hold about your customers, the more likely you’ll be a target for hackers. Let your customers decide which and what information they share via their Vault, and minimize the risk your business has to take on. 

‍

—-

Interested in giving the Vault to your customers? They can access it through Identifi Me, or if you want a solution built into your app contact our business development team HERE.

‍

Keep your eyes peeled for the next installment of our introduction series to ShareRing Business Solutions, where we take a closer look at our verification technology.

‍

Stay notified through our LinkedIn and Twitter page.