Invoid: Enabling KYC automation & identity verification in India

Hi, we are Sarthak and @kunwar_raj_sethi , founders of Invoid (https://www.invoid.co) and today we are launching our product on PH ! In 2018, we decided to go ahead with Invoid and began offering KYC solutions for businesses to reduce user drop offs and automating their individual on-boarding across India.We built a simple monolith API for companies to use as a source of their user’s ID verification. Going ahead, we incorporated multiple sources for verification including public accessible databases and introduced proprietary machine learning models to check for frauds in real time. The core reason why companies love us is our developer first approach. We believe that the effort required for integration of this service determined a competitive edge. We just feel that today most KYC solutions compete on who has the best sales team. This looks very much like credit card payment processing, before Stripe and Square actually came along - sales teams went out and won deals. In a post Stripe world, any developer can be up and running taking credit card payments in a few hours. This doesn’t yet exist in KYC, and when it does, it will have the same transformative effect, enabling software companies to embed financial products into their offering, and adding incremental operating leverage to those who do. On an average, we are processing more than 4 million KYC/month. Our customers include some of India’s leading banks, fintechs, investment platforms & shared economy organizations. We are constantly looking to improve at Invoid and your benefit will embark our success. Looking forward to knowing your insights and eager to hear your feedback here or at hello@invoid.co. Also, we would love to show you a demo of our product. Please let us know and we shall reach out in no time! For reaching out to us directly - founders@invoid.co

Sarthak Goel

Invoid

Maker

4yr ago

Aditya

Product Hunt

@kunwar_raj_sethi @invoid @sarthak_goel this is such a wonderful initiative, guys! All the best :)

Thank you @adityavsc ! :)

Devanand Premkumar

@kunwar_raj_sethi @invoid @sarthak_goel Congratulations on your launch. Interesting model for sure. I was under the impression, these automated KYC was not feasible in our country. But the world returns anything not feasible with an appropriate answer and its Invoid. My wishes to you guys ✌️

@kunwar_raj_sethi @invoid @devaonbreaches Thanks for your kind words Devanand! Accommodation of these variations is what makes things more interesting!