 Hi everyone. Good morning. Today we are going to talk about instant access and how instant is providing a KYC verification platform using the hyper ledger technologies and bringing portability to the solution. I am Shobrat Radhaas, the VP of engineering at Instant and Alberto Leon, the lead SDK engineer will assist me on the technical deep dive about the solution. So we at Instant consider the digital customer onboarding is broken in today's world and I will explain why we say that. 40% or more good customers are rejected today's world due to a lot of reasons like vendor orchestration failures, automated system false positives, causing financial exclusion and this is predominant to the world where the users are more web 3 users the Zen Z, Zen Y, which new immigrants which has good financial access but they don't have the traditional way of proving their financial identity using a credit system or similar means. So Instant is actually in forefront of giving these empowering these users and bringing to their financial freedom. Instant actually taking a quite different and innovative approach to mitigate this problem instead of just providing API based service like many of the traditional provider in this segment Instant is providing a risk-based approach where it is taking the last liability and identification up to hundred million dollars to its customers and when we say that when instant taking the entire risk of fraud loss in unification based on the customer business and customer doesn't need to worry about the fraud loss they can focus on their core business instead of worrying about the fraud loss. Instant provides a managed service so instead of customers need to operate configure in number of different vendors being it a document verification vendor being into KYC vendor or any other sort of vendor instant manages all the vendors and provide a very simplified and smooth interface to the customer in a managed way so that customer doesn't need to worry about that and they can focus their core business and in that way it simplifies the integration. Also the other aspect of instant's innovation on the technology front is that instead of just providing an API based interface instant provide a SDK toolkit which aligns with customers core technology sits inside the customer's application and provides a lot of underlying information which instant uses using machine learning in the back end to provide innovative insight about the fraud risk of the customer user profile and this low code no code integration can be based on any technology that customer choose or prefer it can be iOS Android web technologies like Angular react or any other things and that provides a very low code no code solution with a single or few lines of code customers can able to integrate the instant system and reduce the complexity. Instant also innovate this one from the business model perspective that instant charges only for performance unlike any other operator in this segment instant doesn't operate based on a metered model that you the business as a business you need to pay for every transaction instant covers only for good transaction when you are able to onboard a customer after instant verifies the customer and that innovation provides a huge potential for the customers to reduce the cost in this system. So that is instant score platform which is called instant accept but on top of that now instant is collaborating with hyper ledger to provide a decentralized solution where the end users can own their identity instead of relying on the third party or any other vendors to own their identity and I'll talk about little bit about more about that that the core technology called self sovereign identity and this in this world there are issuers and verifiers and instant acts as a issuer of our credential or token which the end users can store in an instant and hyper ledger compliant wallet. Once they store the credential on the wallet they don't need to provide the same PII data again and again to every time they want to sign in to the same customers as well as there are interoperability so that this token or the credential can be used for similar compliant businesses who also signed up for instant access. This provides the portability and allow the end users to retain their identity. It also increases the privacy of the system because this is built on something very crucial which is called zero knowledge proof and this is akin to the system in real world in a sense that if you go and for you need to prove that you are an adult 18 years of old maybe you need to provide your driver's license but in digital world with this technology you can just give a binary answer which is called verifiable presentation and that's you don't need to provide all your PII data to prove a certain use cases. This technology is built on blockchain or distributed laser and that actually the core piece that negates the any central authority and thus improve the trust in the system as well as negates any cybersecurity risk and reduces that. So all these top things are built into this portable KYC solution which we are saying instant access which is built on top of instant core platform instant accept. So once instant onboard a customer from the lifetime of the customer that they can actually interact with the businesses using this portable solution KYC and then don't need to re-verify. This reduces the friction in the compliance this reduces the friction in the operation so that you forget your password you need to re-register again you don't need to go through those complex process customer care and all these things you as long as you have your credential in a compliant digital wallet you can use that to prove your credential from then on through its life cycle. So what instant access does on built on top of the hyper ledger toolchain instant access makes it easy for the businesses to transition from the traditional centralized onboarding process to a decentralized onboarding process and in this say customers actually have an option to give all or the segment of its customer base to onboard in a decentralized world and they can do it through configuration with few easy click and they can actually give that choice to the end users when they want to do that and the manifestation happens based on a QR code or a deep link and the end users have a choice to make the decision when they are comfortable to move depart from the centralized world to decentralized world. The instant access because it is compliant with hyper ledger technology stack there is a governance framework involved so the trust the businesses and the end users not only trusting instant solution they are also trusting the all the governance players that involved in this ecosystem including hyper ledger including sovereign foundation including trust over IP foundation and many other organization and Alberto my colleague will delve into more details on to these but on top of that instant also provides a standardized level of assurance which is based on the features our customers chooses so for example at the very minimal we provide a level of assurance third level of assurance but the customers can choose additional verification features like OTP or document verification to level up that assurance for their users if a customer doesn't want to use the interoperability aspect of this they can still use the passwordless login into their own ecosystem and many of the customers that instant works with have their product silos that they have many different onboarding across their product chain and this is the password less KYC actually a very good use case for the enterprises use within their product silos with that I will hand over to my colleague Alberto to deep dive on to the hyper ledger and the technology chain hello can you guys hear me morning guys Alberto here I'll talk about a little bit more about the the technical side of what we use a hyper ledger along with our product so thanks to Bhattra first of all he explained a little bit about instant access we do a sign-up process the KYC process and we'll show a little in a little minutes what that demo looks like but I just wanted to talk a little bit about decentralized identity first and how it's kind of you know evolving and progressing foundations like hyper ledger along with W3C which you know brought us HTTP HTTP and other famous protocols we use today and this newer internet era you know are working with decentralized technology as well their current working groups with hyper ledger W3C identity foundation and many other consortiums who are looking forward into you know creating these new protocols so I'll talk a little bit about the technology that's kind of based in decentralized identity of course we have the ledgers the blockchain which is the main core focus the central is I decentralized ID which represents you know any other ID were you know used to using except they have a common you know signature and some cryptography which we'll talk about in a second did come protocols which is the communication we that they that we use or between different actors within the ecosystem which we'll get into in a second as well verifiable credentials which represent you know this new way of you know representing yourself and your data and level of assurance of course and a JSON LD schema so if there's any developers out here if you're familiar with JSON the JSON LD is very something very similar is the format that we use for verifiable credentials so this is what the DID looks like the the ID for ledger technology basically these you have a schema a method and a specifier these are really cool because they work with ledgers and they are permanent resolve of moral and they are very persistent so this is what the DID architecture looks like you know the as you know a driver's license that you may hold in your wallet you're the controller of that driver's license there is a DID subject and there's a controller there's a DID document that contains information about that credential along with some cryptographical signatures and all of that stored in the verifiable data registry which basically represents the blockchain right and it could be it could be either other things too it doesn't have to be the blockchain but this is what we use currently for our product and we have the verifiable credentials of course these are the you know the new IDs you go holding your wallet and these you know have some certain data to them you have credential metadata you know some basic information about who holds that ID who controls that ID and other extra information we have claims which is the attributes to the ID you know like name phone number whatever it may be and the proofs the proofs is what makes this a little bit different to other credentials which contain signatures by the issuer and other important cryptographical information and the verifiable presentation is just an abstract part of verifiable credentials but this is what allows the users to just present certain type of information which will take a look in a second all right so what does a flow and the roles kind of go into the decentralized identity world well we're probably you know used to seeing you know the normal process of you know basically you know if you want to go buy a six pack of beer at the liquor store you would you know present your ID to confirm your age right so to get the driver's license for example your state ID you would have an issuer for example that will play the DMV and then the holder you know you're the person who actually holds the ID and then the verifier so the clerk would be the one that verifies your ID and all this kind of all connects to the verifiable data registry which is the blockchain so this is the new process that we're kind of working with Hyperledger and the tools which I'll get into a second so that's this is the really cool thing about it we're basically taking IDs and kind of putting them into the blockchain which makes it more frictionless for companies and also for users kind of are sure that their data is being protected so with Hyperledger we use three main components Hyperledger Indy Hyperledger Arius and Hyperledger Ursa Indy is what we use the framework we use to interact with the ledgers Hyperledger Arius is what we use to come to communicate with the different actors so between the issuer holder and verifier and Ursa which is the cryptographical framework that we use to decode and encode things so the great thing about Hyperledger is they provide these tools open source big community lots of developers and it's really easy to kind of leverage this into your project and at least coming from a developer's perspective this is really cool because these concepts are rather new and kind of unfamiliar to most developers and these these frameworks really help developers just basically not to be too familiar with the concept and just use the basic functions which is really great this is what the stack looked like at the very bottom we have the blockchain then next to it we have the Arius protocol which is the communication as I mentioned and then the crypto library which is Ursa which is to encode and decode things so the trust framework so we can talk about technology and we can talk about you know the different frameworks that we use to in order to kind of leverage a Web3 technologies but we also work with governance as well so this is what the trust framework work looks like so basically it's two pillars or one pillar will represent technology and the other pillar will represent governance so on one side we can talk about you know the blockchain but then we can talk about the governance of that blockchain right the rules and best practices for that blockchain and different users can subscribe to your own governance so the second layer would be you know how we communicate between the different actors the different you know subjects within the ecosystem and you know the governance framework would be you know who talks to who and how right so this is the different layers of what that represents so in other words we don't just want technology we also want governance right to make this even more perfect so with instant access and hyperledger we create this great synergy our product basically takes you through the onboarding KYC process of your customers but we add you know this extra layer of hyperledger blockchain which makes you know process very frictionless and even you know you guarantee security for your users and you know they're using Web3 technology so it's really great so for our product instant access once you sign up for our product you'll basically get access to a dashboard where you can configure what kind of liveliness check by your metrics you want to check with your end users when they're signing up for your product and then we have a wallet that we provide but doesn't necessarily need to have BR wallet we you can use any wallet and I will show you a quick demo what that looks like so this is Acme Bank Acme Bank is just a demo bank in order to kind of just show you guys what this looks like so Acme Bank basically you know you would sign up this could be very well your your kind of homepage where your users sign up to you'll kind of enter you know PI data basic data and from here you can't see our product but it's running in the back end you can configure this however you like we're gathering by your metrics we're scanning you know for bots we have AI models which kind of provide a way to facilitate whether this user is a bot we're checking that the same data isn't being you know sent various time within a certain amount of time frame we're also checking all the data about how how real this person is and we'll get to the end here well we'll see here we'll give be given the option to actually get a credential so here users once they sign up and they're logged in they get the credential just by clicking that this is the wallet we'll get the credential same data we just entered we will just validate that we have all the proper information here so we have some extra data expiry date these are the attributes or the claims that I mentioned before you'll get sent the VC by the issuer in this case is Acme Bank and this credential can be used to log in into the same bank so just go to log in you'll be provided the same button but this can be a QR code and that will open up the wallet again and then I'll say hey do you want to share this data with this with this company right and all you see here is the email and that's pretty much it and there you share the data and that will kind of frictionless which was something that my partner SD mentioned and have you signed in automatically so here the bigger picture is let's say you subscribe to the same governance other companies and this Apple Mart another demo e-commerce page and if this Apple Mart subscribe to the same governance technology you can easily you know sign up but instead of entering your PII data and the regular sign up data what you'll do is just scan the QR code it'll ask you know for you to share your data but since it's already been issued by a company like instant that's already validated me as a real user I can just simply share the credential with Apple Mart and that would automatically onboard me without going the regular through the regular PII process and sign up process and I'll leave this back to Subbatha to talk about the dashboard and he'll talk a little bit more about that thanks Alberto so Alberto just demonstrated how instant customers can leverage and open up the instant wallet and instant compliant wallet and provide the end users a credential which is backed by hyper ledger which is backed by decentralized technologies and prove them that they can actually own their own identity identities but as a customer the businesses can come to log in to instant dashboard and can still verify all the informations all the processes that instant provided and instant applied to verify that end user before they actually provided a credential and that manifested in the justification what are the positive positive aspect of that user that manifested the KYC aspect of the system document verification device manifestation biometrics behavior check and the machine learning model that instant is applied so in a summary that these are the benefits of the instant platform as a whole so you get the fraud loss in notification which is a business model shift that we are doing in the industry that as a business you don't need to worry about the fraud as a risk anymore instant is taking over the fraud loss in notification from you as a business not just a meter service it also provides the frictionless onboarding you get to choose a SDK of the technology choices from yours and integrate that with few loss and with the portable KYC it brings that frictionless communication to the end users and cut down the operational overhead and bring trust to the system it built on the open standard based on all the good things that hyper ledger and other organizations are doing that provides the openness of and trust into the system and it also we also provide additional account monitoring that we don't not only help the customers to onboard the end users we can also monitor the entire life cycle of the engagement of the end users with the customer with account monitoring which is our next product extension which is called instant verify so this is a case study where instant help the leading retail lender to drive 11 million fraud loss with to zero and eventually the entire amount of the revenue save was more than 24 million dollars for that customer so the road ahead we have the best product for instant access but there are more things to do so one thing is to establish a ITF governance framework across the KYC with bringing the other players into the market and have our interoperability standardization of the KYC level of assurance so that that can be interoperated within the industry as well as creating a digital services marketplace so that the end users can find the compliant businesses which actually provides instant access obviously more deeper partnership with OSS communities like Hyperledger is in our roadmap as well so more customers less friction zero fraud losses in minutes thanks everyone we can take any questions you have