identitii’s patent-pending tokenisation technology allows both parties of a payment transaction to be verified in real-time.
identitii turns traditional payments into enriched payments, including purchase orders, invoices, quotes and more. identitii reconnects the purpose of a payment with the payment itself.
identitii’s tokenisation of payments allows your customer to know where their payment is in real time. Storage of transactions on the identitii distributed ledger enables you to view linkages between suspicious payments, enhancing compliance and improving customer insights.
The buyer adds a description to each transaction, with a maximum input of 12 characters.
The identitii Token is a unique identifier for the transaction. This allows customers to add additional information such as invoices, extended descriptions and other important data that is stored in identitii’s secure blockchain.
The buyer’s bank screens the identity of seller and reason for payment with limited information, and is exposed to AML/CTF and regulatory compliance risk.
The buyer’s bank verifies the seller’s identity and reason for payment with the identitii blockchain.
The seller’s bank screens the identity of seller and reason for payment with limited information, and is exposed to AML/CTF and regulatory compliance risk.
Using the same process, the seller’s bank verifies the buyer’s Identity and reason for payment with the identitii blockchain.
Both the buyer and seller wait for payment with no knowledge of when the payment will arrive.
Both the buyer and the seller can track the payment in realtime with the identitii Token.