Finema is fulfilling the market gap in digital identity by providing an enterprise-grade self-sovereign identity solution. We utilize the distributed ledger technology to build a reliable and trusted digital identity platform.
We have a working product with clients on board specifically in the Government sector.
We offer our solution to Enterprises with our primary customers being Governments in Asia-Pacific.
Problem or Opportunity
Finema is fulfilling the market gap in verifying one’s identity, an equivalent digital-based credential to a 400-year-old verifier method paper-based credential. Self-sovereign identity offers a solution to proximity, scalability, privacy, and consent problems not to mention the instant verification of transactions. The traditional time-consuming, operation-based of verifying one’s credentials will be seamless. This new journey will in return enhance the user’s experience, sparking an upward spiral of frictionless digital transactions.
Self-sovereign is no more a concept, it is a mandatory practice that cannot be neglected in every circumstance and should be embedded seamlessly when executing digital transactions.
Finema’s current use-case covers three industries: education, healthcare, and civil servant’s digital identity. In the top three universities in terms of graduates, we have shifted digital student IDs, academic records, and transactions to a digital credential standard. With this standard, students are able to transfer credits between universities, where it was not possible in the past. Companies are able to verify the digital transcript securely and seamlessly. In healthcare, we provide fundamental technology in health ID, medical records, and e-prescription. In the public sector, Finema is managing digital identities for civil servants’ by offering passwordless authentication.
Solution (product or service)
Our platform consists of Decentralized Public Key Infrastructure (DPKI) that has of 4 components i.e. IDIN Blockchain: Enterprise decentralized identity blockchain for organization. Identity Access Mapper for mapping the centralized user databases with DIDs. Electronic Identity Wallet for user to store their credentials ID Proofing solution for onboarding clients using document verification and facial recognition technology with a passport/government ID card.
Indirect competitors are Mattr, Transmute and Blockstack. We are different as we have our own private blockchain and we offer in-house Enterprise Decentralized Identity solution tailor-made for our customers.
Advantages or differentiators
We offer in-house Enterprise Decentralized Identity solution tailor-made for our customers. Our solution is easy to use and deploy which has led to wide adoption and also having our own private blockchain has enabled us secure Government projects.
Money will be spent on
Research and Development Expansion into South East Asia