'Digital passport' to combat online identity fraud

Born out of Canadian entrepreneur James Varga’s belief in change, the company have created a secure solution with the potential to revolutionize the way we trust, engage and transact online.

Redefining online trust

“Technology is part of our everyday life” believes Varga. “Trust is a critical part of this new world. It’s something we’ve struggled with since the inception of the Internet and continuing to use the same outdated approaches that have proven themselves ineffective is fruitless” he continues. “The solution has to come from something new and this is what we’ve developed with miiCard.”

Drawing on a previous venture with MoneyDashboard, a personal finance management tool, he realised that using bank-verified identities online could offer convenience and security whilst dramatically reducing fraud. He believes that an inventive approach is key to business success: “innovation is all about setting new ground, things that cannibalize existing markets, things that disrupt the old models and change the way we operate."

An intelligent means to an end

Vargas believes that process must change. And despite the undeniable need for the solution, widespread take-up of the miiCard hasn't happened overnight.

Recognizing a pain point in the consumer finance model, they built ‘DirectID’ – a product which embeds the core verification of miiCard into major consumer finance processes, providing high-level verification in a seamless and singular user experience.

Customers can then create a miiCard off the back of DirectID verification, a stepping stone to the company’s wider vision of creating a trusted 'Bring Your Own Identity' service.

Resources are everywhere – so pay attention to your customers

Insight is everywhere – if you’re prepared to pay attention. The greatest demand for a miiCard currently comes from Twitter users – keen to achieve the ‘blue tick’ of verification.

“Embrace the unexpected.” Vargas suggests. “We didn’t anticipate this demand from Twitter, as we always saw miiCard having a clear fit in the financial services market. As a small team, it’s not a core focus for us but is something we do nurture as there is a clear need for social media verification today. Many of these miiCard members are some of our best and most vocal supporters in the online community.”

Pushing the boundaries

With online fraud at an all-time high, miiCard allows secure transactions to be made with confidence and trust. Working relentlessly to explore the business potential of the product, Vargas believes that the “miiCard vision is to be the universal standard for online identity verification globally – and it’s by continually embracing innovation that we will get there.”

How you can take the next step

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