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Synaps stepping to 2024

As we step into a new year, we at Synaps want to extend our warmest wishes for a prosperous and fulfilling 2024!

Jan 11, 2024

3 min read

Synaps New Year
Synaps New Year

The year 2023 has come to an end, and many things have happened at Synaps! We want to extend our best wishes for 2024 and take this opportunity to recap the past year and provide a brief preview of what's coming in this new year.
And as we're confident this new year will be a success, we've also given ourselves a makeover. Hope you like it.

Our year in numbers

  • 7,552 Corporate entities verified

  • 50,052 Fraudsters blocked

  • 60,002 Animas created

This year main product updates

New certifications of the year :
In a significant stride towards enhancing our compliance solutions, Synaps proudly achieved ISO27001:2022 certification this year, bolstering our commitment to providing superior KYC, AML, and KYB services. Additionally, we've strategically integrated Ubble's PVID-certified remote verification solution into our offerings. This collaboration ensures our clients, irrespective of their size, can access a PVID-certified solution seamlessly integrated into Synaps’ identity verification process. This integration not only simplifies compliance with Article R561-5-2 of the Monetary and Financial Code but also enhances our platform’s ability to mitigate fraud and manage risks effectively during client onboarding.

KYB enhancement :
At Synaps, we pride ourselves on our robust expertise in Know Your Business (KYB) solutions. This year, we've further augmented our offerings, enhancing our ability to authenticate 100% of KYB submissions effortlessly, including specialized capabilities in verifying offshore companies. Our commitment to continuous improvement led to the introduction of innovative features such as reusable KYB and automated share calculations. These enhancements not only streamline the verification process but also significantly boost efficiency and accuracy, reinforcing our position as a leader in the KYB domain.

KYC enhancement :

This year at Synaps, we've made significant strides in enhancing our Know Your Customer (KYC) solutions, with a keen focus on optimizing user experience and efficiency. We've concentrated on ensuring smooth integration for our customers, reducing dropout rates, and improving conversion through instant verification. Our advancements include the introduction of reusable KYC processes, refined with AI and NFC technology for precision and speed. Additionally, we've launched a new user interface alongside an innovative Software Development Kit (SDK) and a streamlined document API, all designed to make the integration of KYC into your applications as seamless as possible. These improvements are a testament to our commitment to providing a KYC solution that is not only robust and reliable but also user-friendly and highly adaptable to our clients' needs.

Partnerships on privacy friendly online identity

Our journey in developing decentralized identity and a reputational Web3 has been groundbreaking.

We've collaborated with notable names like Polygon ID, StarknetID, Eclipse Pad, Cosmoshub, Verida, and more, shaping the future of digital identity.

Looking ahead: our plans for 2024

An overview of our product roadmap

Crypto Private Sale Platform :
In Q1 2024, we will be thrilled to unveil dedicated platform for crypto private sales, designed to empower projects seeking funding and investors managing their deal flow.
Teams seeking funds will gain access to a confidential and secure private-sale hub. This hub is perfect for promoting their projects and drawing in investors.
For investors, our platform will offer a singular, efficient space for managing investments and corporate data as well as accessing new investment opportunities.

KYC and KYB on chain for compliance and Privacy :
Stay tuned for our upcoming multi-encryption system for KYC (Know Your Customer) and KYB (Know Your Business). We're designing a system that is privacy-friendly and aligns with regulatory requirements. This innovation is set to facilitate the onboarding of institutional entities for the next stage of crypto growth.

We believe that permissioned DeFi (Decentralized Finance), RWA (Real World Assets), and many other verticals will greatly benefit from this solution. With our system, your Smart Contract can determine whether the person behind a wallet has been verified, while the user's data remains encrypted by multiple parties. The goal? To maintain privacy for 99.99% of users, as no single party can access their data. However, for compliance with regulations, the data of the 0.01% of potentially problematic users can be disclosed to a judge if deemed necessary by several parties. We are very excited to provide this crucial element to the ecosystem, creating a safe haven where institutions and retail investors can interact seamlessly.

Unified platform for compliance and fraud detection :
We're setting the stage to launch a unified platform that redefines customer experience. It's designed to blend the most effective document and biometric verification methods, incorporating trusted data sources. Plus, it features passive fraud detection signals. Our goal? To fulfill all risk and regulatory requirements while minimizing customer inconvenience.

Synaps New Year
Synaps New Year

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