How they describe themselves: identitii’s token technology provides banks with a platform to exchange detailed payment information with no change to legacy systems. identitii uses tokens and a distributed ledger to enrich traditional payments with attributes and documentation. identitii was a participant in the Accenture Fintech Innovation Lab 2015 in Hong Kong, and has launched three proofs of concepts with Top 10 Global banks.
How they describe their product/innovation: identitii creates an information layer that sits above legacy systems to provide enriched information about a payment. identitii’s tokens have multiple benefits for banks including providing better customer experiences. identitii turns traditional payments into enriched payments, including purchase orders, invoices, quotes and more, enabling straight through processing & reduced manual intervention. Attached attributes allow rules based processing of payments, improving compliance with regulators. identitii’s tokens enable banks to “Know Your Transaction” by storing an auditable record of compliance checks & supporting documentation.
Product distribution strategy: Direct to Business (B2B), through financial institutions, licensed
Bus. Dev.: Benjamin Buckingham, VP Strategy & Operations, email@example.com