Increasing trust with eId for developing business

GRIDS will simplify the online remote onboarding of individual and business customers, mostly SMEs meanwhile it will specifically allow business platforms to enlarge their customer base across borders providing access to a secure digital environment where transaction participants are reliably identified and authenticated and where personal data protection principles are enforced and embedded in the interoperability frameworks.

More Info About GRIDS

Services

KYC Checks for other Business Sectors

Provision of comprehensive KYC information and Sanctions/PEP/Adverse Media screenings.

KYC Data for LEI Checks

KYC Data for LEI Checks Integration of eIDAS-based eID services to the existing Legal Entity Identifier check mechanisms enabling a time saving factor and data verification.

Onboarding of Business Accounts by Banks / Financial Institutions

Provision of eIDAS-based eID information about legal entity’s representatives together with KYC information to simplify onboarding processes of business accounts and minimize risk of fraud and time spent for identification processes.

Objectives

GRIDS plans to develop a service based on eID and LEI checks mechanisms which will save time and facilitate data verification, and also proposes providing to other business sectors, beyond the banking and finance, a fast and up to date KYC information service, facilitating the business transactions at pan European level.

GRIDS envisages to design and develop a new, successful, online, remote customer onboarding experience while ensuring compliance with strict and key regulatory requirements that apparently demand sophisticated services for Know Your Customer, Enhanced Due Diligence, Ultimate Beneficial Owner analysis, etc.

Impact and Sustainability

GRIDS industrial eID monitoring group gathers key business stakeholders from different domains with the aim of fostering dialogue among business key players of relevant sectors in order to maximize the potential of voluntary private sector use of eID in the framework of eIDAS Regulation and the digitization of industry services (DSM strategy).

At the same time GRIDS industrial eID monitoring group contributes to gain a deeper understanding of the barriers for adoption of eID by the private sector and the potential role of these stakeholders in the sustainability of the infrastructure.

Stakeholders

Large companies and SMES will hire new financial digital services through a trusted digital mechanism for the verification of their identity.
KYC Consumers: will be provided with one-stop-services that will save time significantly and bring cost saving effects.
KYC Providers: will benefit from the integration of the eID DSI to remain compliant and competitive as well as guarantee a high level of customer satisfaction by accepting eIDs issued from other Member States.