Our lives are becoming increasingly connected with digital platforms and services. Due to this, there is a need for a solution that securely manages and controls our personal information. White Label digital identity wallet offers a powerful solution that has been developed by combining two crucial factors security and convenience. These protect users’ data from cyber threats, hacks, and identity thefts.
Developing a White-Label Digital identity wallet requires a deep understanding of wallet technology and digital identity intricacies. This is when you need a reliable White-Label wallet development company with expertise that accelerates development, allowing enterprises to focus on their core potential.
1. The global identity solutions were estimated to be worth $27.9 billion in 2022, expected to rise by 70.7 Billion by 2027 at the compound annual growth(CAGR) of 20.4%.
2. As per the studies conducted by Gartner, 30% of the national government will enable digital identity solutions for smartphones by 2024.
3. According to studies, 90% of consumers will use single-identity service on a single site instead of sharing it on every site.
Enterprises must invest in a white-label digital identity wallet due to numerous reasons. It offers various benefits that affect its operations, customer relations, and overall business strategy. Let us shed light on the reasons:
Digital identity refers to information and characteristics determining your online identity and helping you interact with services and platforms. It involves personal information like name, age, address, username, and biometrics.
Verifiable Credentials are a secure and trustworthy approach to verifying your identity. The information is often checked by verifying organizations like employers or financial institutions. These are crucial as they give users more control over their personal data. When shared in a private preserving format, data allows individuals to share credentials without disclosing their personal information. This enhances security, privacy, and convenience while minimizing fraud and theft.
The significance of White Label digital wallet has increased among individuals and enterprises as the world is becoming extremely interconnected:
Developing a wallet from scratch can require resources and consume much time. White-Label digital wallet is a pre-tested solution proven to work, eliminating the risks of developing a custom solution.
Digital identity and verifiable credential products can enhance identity information security and encrypt the credentials using advanced technologies. This prevents identity theft, fraud, and malicious activities on the platform. Users get complete authority over their data and can choose what they want to share.
These solutions are complaint with regulations like KYC (Know Your Customer), AML (Anti-Money Laundering), and GDPR (General Data Protection Regulation) needed to verify an individual’s identity and personal information.
The solutions streamline the organizations’ process, enabling them to quickly and easily verify their credentials and identity. This saves time, reduces cost, and improves operational efficiency to a great extent.
Below are the primary use cases of White-Label digital identity wallets for firms that can benefit from these solutions:
The wallet follows the standards furnished by World Wide Web Consortium(W3C), a community that sets the standards for World Wide Web.
2. Manage App Store Profile
Managing app store profiles along with user relationships has become easier than ever due to this feature provided by the platform.
The wallet can be customized per the preferences and can be aligned with the brand identity.
4. Credential Verification
The wallet credentials are instantly verified, especially while wallet-to-wallet or in-person transactions.
5. Automatic Updates
The wallet provides automatic updates for the smooth working of the application.
Techniques like encryption and Selective Disclosure ensure that the user information remains private.
7. Easy Integration
Easy integration speeds up the time to market the wallet so that the users can harness its capabilities.
Establishing reliability and enhancing user experiences has become important in this rapidly growing digital space. You must invest in Antier’s innovative white label digital identity wallet, developed using advanced technology and maintaining the brand’s identity.
Our team’s solutions have been crafted per your business requirements. This helps you offer customers a secure and user-friendly platform used for management and identity verification while aligning them with the brand value.
Associating with Antier is not just a technology investment but a partnership that helps your brand grow, promotes innovation, and makes your venture successful in the evolving digital space.
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