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The Central Bank of Ireland Innovation Sandbox

Combatting financial crime with privacy-preserving Digital Identity Verification.

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The Challenge

Combating Financial Crime in a Digital World

Financial crime remains one of the biggest threats to the stability and integrity of the global economy.

In 2024 alone, an estimated $1 trillion was lost to fraud, scams, and illicit financial activities. Traditional KYC (Know Your Customer) and KYB (Know Your Business) processes often rely on manual document checks, centralized databases, and inefficient verification methods. All of this leads to:

  • High fraud risks
  • Regulatory compliance challenges
  • Privacy concerns

Solutions

Vidos is Solving These Challenges

Dashboard mockup

  • Interoperability with eIDAS 2.0

    Prepares institutions for future regulatory requirements and a transition into new digital identity technology adoption.

  • Real-Time KYC/KYB Compliance

    Ensures that institutions meet stringent AML/CFT regulations while reducing the burden of manual verification.

  • Privacy-Preserving Identity Verification

    Enables financial institutions to verify businesses and individuals without exposing unnecessary personal data.

  • Fraud-Resistant Digital Identity Checks

    Uses cryptographic signatures and decentralized trust frameworks to eliminate identity spoofing and document forgery.