New updates have been reported about Persona (PERSO)
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Persona, a leader in identity verification, has introduced Persona Connect, a groundbreaking solution aimed at transforming how organizations share and reuse verified identity and business data. Unveiled at Money20/20 USA, Persona Connect provides the infrastructure for secure data exchange, addressing the challenges of fragmented identity verification systems. This innovation is designed to reduce friction for users, accelerate business growth, and enhance compliance with regulatory standards. By enabling organizations to create their own secure, consent-driven networks, Persona Connect allows seamless sharing of KYC and KYB data across various sectors, including crypto and traditional finance. This approach aligns with recent FinCEN guidance encouraging financial institutions to collaborate on data sharing to combat fraud and improve AML oversight.
Rick Song, CEO and co-founder of Persona, emphasized the collaborative future of identity verification, stating that it should facilitate industry progress while safeguarding user privacy and compliance. Persona Connect empowers companies to customize their data-sharing networks, ensuring explicit user consent and maintaining privacy. The platform’s flexibility allows organizations to determine data-sharing parameters, reducing duplicate checks and compliance burdens. Initial adoption by crypto companies like BitGo and CoinFlow highlights Connect’s potential to streamline onboarding processes and uphold crypto’s values of speed and accessibility. As Persona showcases Connect at Money20/20, the company aims to demonstrate how this solution can build trust and foster collaboration across industries, ultimately enhancing user experience and regulatory compliance.