Centralway Numbrs is based on the principle of applying the “full stack”. By the term “full stack” we mean complete independence from third parties in every area of the company. In particular, we take this approach in our technology by developing the entire IT platform independently and without the help of an external supplier. In doing so, we are above all motivated by the incentive to always offer our users the best possible user experience.
This is why our team has been working for several weeks and months to develop its own video identification process. If a user is interested in a financial product in our Numbrs store in the future, they can request this in the chat and can be identified in a few minutes using a video identification process in a convenient, safe and legally compliant way. In the future our users will be able to save themselves the cumbersome trip to the post office and the unnecessary exchange of letters.
The only thing our users need is Internet access, a smartphone and a valid ID document. Our video identification process complies with the complex requirements and obligations of the Money Laundering Act, Data Protection Directive and of the relevant regulatory authority, for example, of BaFin.
The development of the video identification process is a mammoth project which requires a great deal of working weeks and a huge working commitment from our team. In particular, the technical development of the process is highly complex, expensive and time-intensive. Only the best developers are able to implement the requirements for this feature.
Added to this is the comprehensive documentation of the security standards, processes and a lengthy, bureaucratic audit process. All in all, this is an expense that usually only specialised companies generate and their entire business models are based on it. For Centralway Numbrs, it is primarily an extension of the app’s functionality. Many of our best employees work with great commitment and passion day by day on this project. We are proud of this.
Last week, we started the function’s licensing procedure under the guidance of the CERT Data Protection Institute. In the coming weeks, our technology team will be working to implement this function. We plan to deliver the video identification process to all users during the course of September.