Banking Industry KYC/Verification Solution - ShareRing
Identity Verification for Banking

Banking identity verification, without the friction.

ShareRing gives banks and ADIs reusable, privacy-first KYC that passes AUSTRAC, UK DIATF, and ISO scrutiny. Customers verify once through an encrypted Vault, your compliance team gets a signed result in seconds, and the cost per onboarding drops by an order of magnitude. Already trusted by regulated platforms across Asia-Pacific.

Onboard in seconds. Stay compliant for life.

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UK DIATF Accredited
AML/CTF Compliant
ISO 27001 Certified
190+ Countries Supported
THE COST OF LEGACY KYC

The real cost of running full KYC on every new customer.

$5M+
Annual KYC Spend
Mid-tier banks burn millions every year on manual verification, document scanning, and compliance overhead. Costs keep climbing as regulations tighten.
3-5
Days to Onboard
Customers jump through hoops. Document uploads, video calls, manual reviews. Modern banking should be faster. Your competitors are.
40%+
Customer Drop-off
Nearly half your prospects abandon the onboarding process. They verify once and expect it to stick. Instead, they repeat it again. Bad experience. Lost revenue.

The real problem: you are storing personal identity documents. Passport copies. Government IDs. Driver licenses. Every document you hold is a liability. A breach costs you millions. Australia saw $50M in privacy penalties last year. Are you next?

Customers have already verified. They got a passport. They passed a government background check. Yet you ask them to upload it all again. Then your competitor does the same thing. Then their insurance company. It's wasteful. It's duplicative. It's why customers hate fintech.

WHAT SHARERING DOES DIFFERENTLY

Verify once. Trust everywhere.

ShareRing Me

Your customer verifies once. They carry that credential in their app. Present it to any business in the network. Passport scan? Done. AML check? Done. They never repeat it.

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ShareRing Link

No-code verification portal. You set up a workflow. Customers complete verification in 90 seconds. You get a credential result. No personal identity documents touch your servers. $0.85 per check.

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ShareLedger

Immutable blockchain audit trail. Every verification event is logged on-chain. No passports, IDs, or personal documents stored. Just cryptographic proof that the check happened and passed. Built for regulatory scrutiny.

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Regulatory alignment

AUSTRAC AML/CTF

Reusable KYC built to the AML/CTF Act 2006 and AUSTRAC enrolment requirements for Australian banks and ADIs.

UK DIATF M1C

Aligned to the UK Digital Identity and Attributes Trust Framework, Medium-High Confidence profile, for cross-border reuse.

ISO 27001 + GDPR

Information security controls and privacy-by-design aligned with GDPR, CCPA, and Australian Privacy Principles.

TRUSTED BY REGULATED PLATFORMS

FundedHere. Singapore's first licensed crowdfunding platform.

Over $20 million raised across 30+ campaigns. 1,800+ verified investors. Two-tier KYC: automated flow for retail, encrypted high-assurance channel for institutional and HNW investors with notarised docs and NFC ePassport verification. Ongoing AML screening. Zero personal identity documents stored on FundedHere servers.

Investor Signs Up
→
Completes KYC via ShareRing
→
Credential Issued
→
Platform Verifies
→
Investment Approved
$20M+
Raised
1,800+
Verified Investors
Zero
CREDENTIALS STORED
<2 Min
KYC Completion Time
COMPLIANCE LANDSCAPE

The new rules are live. Are you ready?

regulatory AML/CTF Amendment Act introduces sweeping new requirements for financial institutions and gatekeepers. Enrolment opened on 31 March 2026. Most Australian businesses will need to comply by the deadline.

Key date: July 1, 2026. Full compliance required. No extensions.

Customer Identification

Full CDD at onboarding. Document verification. Biometric liveness. Sanctions screening.

Ongoing Monitoring

Transaction monitoring. Periodic re-verification. Risk-based approach to existing customers.

Record Keeping

7-year minimum retention. Auditable trail. Accessible to regulators on request.

Suspicious Activity

Threshold reporting. Suspicious matter reports. AML/CTF regulators integration.

You are likely in scope if you:

  • Provide payment services (wallets, remittance, prepaid)
  • Operate a licensed financial services business
  • Manage crypto or digital assets
  • Operate a crowdfunding platform
  • Facilitate customer transfers of funds
  • Platforms a regulated financial platform operating in Australia

You are probably fine if you:

  • Operate an e-commerce store (no payment processing)
  • Provide SaaS tools with no financial component
  • Run a traditional retail business
  • Provide logistics or service delivery only
  • Operate a blog or content platform
  • Don't touch customer money directly
Frequently asked

Common questions from banking teams

Is ShareRing AUSTRAC aligned for banks and ADIs?
Yes. ShareRing supports AUSTRAC AML/CTF obligations for authorised deposit-taking institutions and banking reporting entities. Results, credential issuance, and audit trails are structured to match AUSTRAC expectations, and the same controls cover equivalent regimes in the UK, EU, and Singapore.
How does reusable KYC work for a returning customer?
A customer who has already completed KYC with any ShareRing-connected institution carries a signed credential inside their ShareRing Me wallet. When they open a new account with your bank, they present that credential. Your onboarding flow receives a pass or fail result and the attestations you need, without having to re-run the full document check.
Do you store customer documents or PII?
No. Documents remain encrypted inside the customer wallet. Your bank receives cryptographic attestations confirming identity, age, address, sanctions screening, or whatever attributes you require. You do not inherit storage risk for raw ID images, passports, or utility bills.
How long does onboarding a new customer take?
For a returning customer with a valid ShareRing credential, verification settles in seconds. For a first-time customer completing full KYC in our flow, end-to-end verification typically completes in 2 to 4 minutes including document capture, biometric match, and sanctions screening.
Which banking frameworks and certifications does ShareRing support?
AUSTRAC AML/CTF, UK DIATF M1C, ISO 27001 controls, GDPR, CCPA, and APP. Compliance documentation and Service schema are published on the Banking page so your risk, privacy, and procurement teams can review the controls without a separate NDA cycle.
Explore ShareRing

Keep exploring our solutions

Peer industries use ShareRing to verify customers without storing their documents, and our core products power every flow.

Industry

Finance

AUSTRAC-aligned reusable KYC for wealth, funds, and fintech teams.
Industry

Crypto Exchanges

FATF Travel Rule ready KYC for VASPs, DCEs, and Web3 platforms.
Product

ShareRing Link

No-code verification platform that plugs into your onboarding in hours.
Product

ShareRing Me

Reusable digital ID wallet. Customers verify once and carry it anywhere.

Compliance is that easy. Let us show you.

ShareRing gives you enterprise-grade identity verification without building it yourself.

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