Nexera ID and cheqd Unite to Improve Digital Onboarding and KYC Standards

Nexera ID and cheqd have united to create an innovative standard in digital identity and customer interaction. This collaboration focuses on customer-managed digital credentials, leveraging the technological strengths of cheqd and Nexera ID's customer management systems. Together, they are preparing for a new phase of digital identity across various online applications.

Underpinning this partnership is the innovative concept of "customer-controlled" credentials. By harnessing the technical prowess of cheqd and the sophisticated customer management system of Nexera ID, they are paving the way for a new era of digital interaction. This approach places the user at the helm, heralding a paradigm shift in customer relationships that will dominate the digital identity space across both Web 2.0 and emerging Web 3.0 applications.

The collaboration between Nexera ID and cheqd is expected to empower users to take command of their digital identities, bolstering security and privacy. A standout innovation from this collaboration is the reusable KYC feature. This not only expedites the onboarding process but also fortifies data security.

This collaborative effort between Nexera ID and cheqd spells numerous advantages for customer applications:

• Drastically minimize the time, costs and resources required for onboarding new clients.

• Foster a customized user journey, enhancing satisfaction and loyalty.

• Unlock a new, sustainable revenue model by granting customers stewardship over their data.

This initiative is not only a step forward in improving the KYC framework but also aligns perfectly with the forthcoming eIDAS 2.0 regulations in Europe, positioning it at the forefront of customer acquisition and data exchange.

The technical synergy between cheqd’s network infrastructure and Nexera ID’s customer management system creates an all-encompassing identity verification solution. Cheqd excels in network infrastructure, offering credential issuance and monetization tools, while Nexera ID leads with its dual-capability customer management system that integrates credential verification seamlessly.