MIT Solve

Solution Overview

Solution Name:

YouID by Youverify

One-line solution summary:

YouID by Youverify is a solution that enables users (businesses and individuals) to control, manage and utilise their identities digitally.

Pitch your solution.

The modern digital environment provides individuals with a plethora of services from providers who require individuals to provide personal information in return for access to those services. Given the negative impact that can arise if such data falls into the wrong hands,YouID aims to the answer the following questions:

How do we enable individuals manage their personal identity data better?
How do we enable individuals easily share their personal identity information with third parties, maintain control over their access to their personal information and duration of access?
We are proposing a product - YouID; a solution that will enable users digitally store various forms of identity documents, connect individuals and businesses via a marketplace enabling access to the best opportunities while protecting their identity online.
Scaling YouID solution globally will support safe digital identity management by providing a safe and secure digital identity wallet for users.

Film your elevator pitch.

What specific problem are you solving?

The YouID solution will solve identity management challenges in Africa by providing individuals and businesses with a secure way of storing their digital identity as well as providing access to opportunities while fostering strong business relationships in the economy.

Most commercial transaction today require an exchange of one personal information or the other. As a result of the negative impact from the ineffective protection of data, individuals have become weary and skeptical about online services. Some challenges that will be solved by this solution include:

Reduction in time it takes to fill forms online or offline especially when the amount of information required is a lot
Knowledge and usage of personal information
Duplicity of same information to various service providers including government authorities
Accuracy and reliability of information provided
Ability to remember passwords and login details for all the tools, platforms and online services in use

What is your solution?

Solution: YouID by Youverify - Safe and secure digital Identity wallet that helps users protect their identity online while enabling users access the best opportunities globally based on your identity.

What does it do: The solution is divided into 2 segments, viz:

For Businesses: allows businesses create customizable forms which enables them collect and access the encrypted personal details of their clients, customers, potential users or anyone at all in a printable and downloadable format. Details could be as basic as just name or even as detailed as KYC requirements (Govt. IDs and Address) and even Social ID. Businesses also have the option to publish their services in the marketplace when they upgrade to higher plans.

For Individuals: allows users to store their personal details in an encrypted format, so that they can use it to access services from businesses or give access to their personal details, without having to fill a form. Users can give or revoke access to their personal details. Users can also get password breach notifications when their accounts has been compromised on any other platform. Users go passwordless on other platforms to access online services using YouID(2FA)

Processes and Technology it uses: Kotlin (mobile), Node.js (Back End), Vue.js (Front End) and Agile methodology (Scrum framework)

Who does your solution serve, and in what ways will the solution impact their lives?

Target population: individuals and businesses in Africa.

We are starting with Africa. It is estimated that over one billion people living in Africa are unable to prove their address and identity. Due to lack of a reliable verification and data infrastructure, these people are unable to access a variety of everyday essential services. Organisations like banks, telecom, aviation and online platforms in Africa are struggling to efficiently comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations while ensuring seamless customer on-boarding.

Researches and engagements with potential merchants to be onboarded on the platforms will be ongoing to properly understand their needs. Feedback from individual users will be gathered during testing stages and beyond to update the solution iteratively.

The YouID solution will address the population need in Africa by providing a safe and secure identity management system as well as contribute in the overall economy growth.

Which dimension of the Challenge does your solution most closely address?

Scale safe and private digital identity and financial tools to allow people and small businesses to thrive in the digital economy.

Explain how the problem you are addressing, the solution you have designed, and the population you are serving align with the Challenge.

The YouID solution seeks to ensure a seamless access into the digital economy while guaranteeing the safety and security of a user's personal data and information.

By achieving this, it will scale safe and private digital identity and financial tools to allow people and small businesses to thrive in the digital economy

In what city, town, or region is your solution team headquartered?

Lagos, Nigeria

What is your solution’s stage of development?

Pilot: An organization deploying a tested product, service, or business model in at least one community.

Explain why you selected this stage of development for your solution.

The YouID solution is currently being deployed to the online Beta community in order to obtain organic feedback and responses from users in the community. The community is made up of over 300 members who are currently on our waiting list for the YouID

Who is the Team Lead for your solution?

Gbenga Odegbami - MD/CEO Youverify Inc.