Verida, cheqd, and FinClusive are set to launch a new digital solution for know-your-customer (KYC) and know-your-business (KYB) after a successful proof-of-concept period in 2022. The app aims to simplify the onboarding process for firms and governments by providing a ready-made system for customer verification, while ensuring compliance and data security. The partnership leverages the expertise of each company to tackle issues such as high costs and time inefficiencies in the KYC process. The solution also gives users greater control over their personal information by storing it on the Verida wallet and its secure decentralized network.