Sphereon VDX
benefits

Sphereon VDX creates significant benefits:

Streamlined Onboarding and Verification:

• Implements Straight-through Processing (STP) for instant credential verification, enhancing operational efficiency and customer satisfaction. This is achieved by combining Self-Sovereign Identity (SSI), Business Process Management (BPM) and Robotic Process Automation (RPA) technologies to streamline your business processes.

Enhanced Privacy and Data Control:

• Supports selective disclosure, allowing users to share necessary information only, thus protecting privacy and reducing transactional risks. Advanced cryptographic methods are used for selective information disclosure, such as SD-JWTs, aligning with strict data protection standards as described in the eIDAS2.0 ARF.

Increased Trust and Security:

• Uses robust cryptographic technologies to secure transactions, increasing confidence among all data exchange parties. This is bolstered by stringent security protocols that lower the risk of identity theft and fraud, securing all transactions.

Reduced Costs and Resource Needs:

• Decreases the necessity for in-house identity infrastructure, significantly cutting costs and saving resources. Sphereon VDX offers a reusable framework that reduces the need for costly, separate identity services.

Regulatory Compliance Support:

• Eases the compliance burden with eIDAS2.0, AML, GDPR and other regulations, offering tools that simplify adherence and eliminate non-compliance risks. Features are specifically designed to assist organisations in meeting regulatory requirements easily.

Audit Trails for Accountability:

• Ensures all data exchanges are verifiable, enhancing transparency and accountability in operations. Detailed logging and audit trails support compliance tracking and operational transparency.

Reduced Business Risk from Theft and Fraud:

• Minimizes risks associated with centralized data breaches by using decentralized identity management. This not only protects sensitive user information but also reduces the potential impact and costs associated with data breaches.

Portability and Interoperability:

• Enables a portable, reusable identity across services and platforms, enhancing user experience and adoption. Sphereon VDX facilitates easy adoption and implementation across various sectors without extensive changes to existing systems, ensuring a unified approach to identity management.

Disintermediation:

• Reduces reliance on intermediaries for identity verification, enabling more direct and efficient interactions between parties. This leads to enhanced user privacy and streamlined operations, as it reduces the number of entities involved in the verification process.