Home Smart 100 2011 Electronic Verification and Authentication (SMART 100)

Electronic Verification and Authentication (SMART 100)

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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.

Electronic Verification and Authentication

This innovation initially came to life when…

This innovation arose from a desire by the originators to give themselves control over their own electronic identities and online information. The first germ of the idea started when one of the team started to write his story and wondered how he could prove his story was not fiction. The ideas became more focused when the developers of the idea had to identify people for an online payments service. The development started when it became apparent the AML/CTF legislation required organisations to reliably identify people and there was no privacy-friendly service on the market.

WHAT & HOW

The purpose of this innovation is to…

Edentiti provides electronic verification and authentication of identity. It enables an organisation to reliably identify an individual electronically and to continue to have confidence that future electronic transactions are with the same identified person.

It does this by…

Edentiti provides functionality to individuals to let them prove who they are and to prove it is them transacting. The functionality lets an individual gather information about themselves from other trusted organisations in a reliable verifiable manner and it gives the individual ways of proving it to them by doing any particular transaction.

PURPOSE & BENEFITS

This innovation improves on what came before because…

Alternative solutions require organisations to attempt to prove that the individual is the person identifying and authenticating themselves. These services are provided by multiple vendors to the organisation who verify identities and provide methods of authentication such as matching of biometrics. Edentiti provides the same service in one package focused on the individual.

Its various benefits to the customer/end-user include…

The benefits to the end-user are that they remain in control of their electronic identities. The benefits to corporate customers are that it is cheaper, more reliable, and privacy-friendly.

COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Edentiti’s innovation is to combine existing functionality around the end-user. In effect Edentiti provides individuals with their own online portal that helps them transact online.

Its predecessors/competitors include…

Alternatives offer the same functionality but disbursed across multiple vendors.

TARGET MARKET

It is made for…

Any organisation that wishes a customer to provide them with information from multiple external sources can use this innovation. The service is being sold as different IDs that a person can use for particular purposes. Examples are XXXXXID, where XXXXX is an organisation with multiple business units or XXXXX is a group of organisations with a common product or service such as HEALTHID, CREDITID or UNIVERSITYID.

The market is any organisation that uses any form of electronic transactions with individuals or organisations.

DISTRIBUTION STRATEGY

It is available for sale through…

Currently it is made available through direct sales and partner organisations but it will be made available online early in the next financial year.

Our marketing strategy is to…

Currently the innovation is mainly promoted through referrals of existing customers. In the future the system will “sell itself” through individuals becoming identified for other purposes and being reminded that they can have the same identification service for their organisation.

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