Overview

EarthId

Powered by – MyEarth.Id

MyEarth.Id team is working towards simplifying the process of identity validation and reducing identity thefts and frauds, thereby minimizing the cost of identity management. EarthId is an award winning GDPR compliant decentralized identity management platform, helping you drive data privacy, user consent and digital id verification.

Current Challenge

Identity Management is a cross-industry concern, as the existing IAM solutions suffer from the following problems –

  • Centralized storage, prone to identity thefts and frauds
  • Reliance on outdated technologies like passwords, captcha, physical tokens etc
  • Complicated products, with very high total cost of ownership (TCO)
  • Poor user experience or high friction, leading to lost customers/users
  • Lack of border-less Identity, restricting global adoption
  • Lack of reliability quotient, limiting decision making process
  • Not compliant to data regulations (like GDPR), having massive financial impact

The cybersecurity and the compliance teams across industries, especially Banking, Financial Services and Insurance (BFSI), are looking for a better solution to address the above mentioned problems, and also reduce the overall associated time and cost.

Product Overview

EarthId is an award winning GDPR compliant decentralized identity management platform, helping you drive data privacy, user consent and digital id verification. 

The features include

  • Universal Self Sovereign Identity – allows users to completely own, control and monetize their identity data, while providing access to global services
  • Digital Id wallet – lets user securely store their identity documents on their mobile devices, removing the hassle of carrying physical documents and manual handling 
  • User onboarding – allows users to share pre-verified information with service providers while registering for new services/platforms
  • Smart / Passwordless logins – removes the need of userid/passwords, which are prone to phishing attacks and cumbersome to manage, providing a hassle free experience
  • Digital KYC – reduces the overall time and cost associated with KYC process massively, by digitizing and pre-validation of user’s identity information
  • Anonymized Data / Zero Knowledge Proof -  verify age/sex and other pieces identity information without divulging anything more than absolutely needed
  • Keyless entry – allows access to restricted areas, like corporate offices, co-working spaces, universities, hotel rooms, hospitals etc., using your mobile identity

Out of Box:

  • Decentralized Apps (android & iOS) which allows users to create and manage their identities
  • Software Development Kit (SDK) for customers to integrate with EarthId platform

Customizations:

  • There might be some customization needed while integrating the EarthId SDK with customer platforms, based on their existing IAM solutions and other associated complexities. 
  • Additional implementation might be needed to store non-identity industry specific data, if such a need arises

Implementation/Fit

The cybersecurity and the compliance teams across industries, especially Banking, Financial Services and Insurance (BFSI) are looking for a better solution to address the challenges associated with their existing Identity and Access management (IAM) solution.

EarthId can help the customers with both – either completely overhauling their existing IAM solutions, or just integrating with their existing solution to improve it.

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Niche / Market

Key Benefits

  • Decentralized storage of identity data
  • User consent, privacy and rewards
  • Highly cost and time efficient
  • GDPR compliant
  • Improved user experience and reduced friction
  • Enterprise grade – customizable, interoperable, scalable, secure and stable

Pricing

End User – zero cost; earns rewards while using the app

Customer

  • Pay Per Access/Request for User Onboarding and Digital KYC features
  • Subscription model for passwordless and keyless entry features
  • Commercials can be shared on customer request

While subjective to customer needs and complexity of their platform. Overall cost will be driven by:

  • Initial cost of integration based on existing complexity
  • Design & development of customization needs
  • Pay per access or subscription cost based on features 

Supporting Documentation

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Key Differentiators

  • EarthId is a very feature-rich platform, making it a great value proposition for our customers
  • EarthId can do identity verification across 200 countries, making it suitable for global and multinational customers
  • EarthId is GDPR compliant
  • EarthId’s business model is very cost efficient
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