cloudyBoss: Women engineers pioneer new cloud eKYC “Know Your Customer” solution

Company Name: cloudyBoss

Announcement Date: 22/09/2018
Announcement Category: Product launch/update
Announcement Content:

The cloudyBoss eKYC (electronic ‘Know Your Customer’) solution was developed primarily by Aishwarya Nair and Shumayla Nakhwa, two talented young women engineers who are part of the cloudyBoss Core Tech Group Intern Program.

In a world first, these two creative technical talents have solved the main problem of photo snap spoofing which is an issue that affects most current eKYC systems where a live photo snap is required for authentication purpose.

With identity fraud on the rise, efficiency pressures driven by shrinking workforces and both manual and digital security checks experiencing high failure rates, an innovative Identity Management solution from cloudyBoss is set to stem the flow of vulnerabilities that many industries currently face.

Award-winning software developer, cloudyBoss is well known for its fintech solutions, that include its codeless DLT solution, SKYE, that enables fast and secure smart contracts; and its COBRA banking and forex product, both of which are features of its Extended Enterprise Resource Platform (ERP-X), NEXT+.

The embedded eKYC feature will be available to every cloudyBoss client who will then be able to run it with any of their mission-critical registration or authentication processes.

The cloudyBoss eKYC solution provides two eKYC authentication options: a light baseline one, benchmarked against today’s mainstream eKYC solutions but applied, in cloudyBoss’ case, to lower risk processes still requiring identity ascertainment (for example for corporate loyalty programs); the second option is a much stronger, albeit user-friendly process which utilises the anti-spoofing mechanism in tandem with other identity validations.

This new process raises the eKYC’s bar to new heights and is ideal for applications requiring high levels of security clearance such as government or banking processes, online account opening and high-risk operations for which uncontroversial authentication is paramount.

For the last 12 months, the cloudyBoss Intern Program has seen dozens of talented engineering professionals graduating in a range of cloudyBoss modules. These highly skilled individuals come from all over the world and well over 50% of them are women.

The cloudyBoss team are uniquely remunerated under APEASE (Agreement, Partners Executives and Software Engineers), a smart contract that regulates how services, skills and supplies are exchanged and rewarded. APEASE most closely resembles royalty agreements as exist in the music and publishing industries, where the ‘Artist’ (Supplier) derives revenues on a proportional, and often-times ongoing basis.

APEASE ensures that cloudyBoss’ talented contributors remain associated with the products they have created and that their creativity and loyalty is rewarded long term.

“Our motto, ‘Changing the way we work’ appeals to the brightest minds,” stated cloudyBoss Founder and CTO Giovanni Di Noto. “we apply it first to ourselves, via innovative organisational tools such as APEASE, then to our clients, partners and peers.”

“It is this way of working that has seen these two talented young women, alongside dozens of their peers who are working on other ground-breaking solutions, solve the daunting KYC issue which is currently challenging thousands of organisations the world over.”

The new eKYC solution is one of the unique features of the cloudyBoss extended Enterprise Resource Platform, NEXT+ available from the 24th of September 2018.

Next+, Cobra and APEASE are trademarks of cloudyBoss Pty Ltd.

cloudyBoss is a privately owned, globally distributed technology organisation backed by IBM through its Global Entrepreneurs Program. cloudyBoss’ technology challenges the way we work and frees organisations from old world constraints: it does this by equipping all manner of businesses with tools that allow them to thrive in the new global order.

cloudyBoss baseline product, NEXT+, a cloud-based Extended Enterprise Resource Platform (ERP-X) encapsulates Artificial Intelligence, Distributed Ledger Technology, Machine Learning, Internet of Things, and scale-neutral data nodes. Built and continuously evolving using agile software methodology, cloudyBoss products solve today's complex business challenges of disruption, automation, security and productivity gaps by equipping even the smallest business with the tools to compete globally.

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About cloudyBoss:

cloudyBoss is an award-winning developer of enterprise software that manages business operations and processes for 21st-century entities of all sizes. Apart from software, cloudyBoss’ innovations also extend to business transformation programs and internal business processes such as the APEASE which encapsulates the ‘royalty-based’ relationship between cloudyBoss and parties to which it is connected.

Go to Company Profile for: cloudyBoss

Announcement Contact: [email protected]