Suggestions for KYC and App improvements - that could reduce number of tickets

Hi, I keep reading complaints about KYC, and I understand that there are a lot of users signing up and a lot of tickets, some unnecessary and some people sending wrong documents etc…Its not just Electroneum, I see people also complaining on other places(some exchanges for example) about KYC, they deposit first money and then find out they need to do KYC before withdrawal. So, my suggestion is this:

  1. Its easy to implement, just make a window which will pop up when people sign up which will tell them that they will need to do KYC, and state all levels clearly and which documents will they need to send;and that KYC is obligatory because of law(FCA)

  2. Also tell them that it may take few weeks(or whatever time is needed);displaying how much tickets are open before them(their queue number) would be great and update it as they move their way up

  3. When rejecting files, don’t just state rejected, but precisely explain why - right inside of app

  4. Encourage people to do KYC before they deposit money and avoid them complaining later

  5. Make a KYC tab inside of app with all info needed and displaying user current level

  6. Tell also that they might need to do KYC again in future, if that is the case

  7. Before people deposit(when they go to recieve), remind people of KYC levels and that they need to do KYC(if they haven’t yet);better to remind them than to hear them complain later

  8. Inside of app make a link that will go to this forum and FAQ, or better yet display FAQ inside of app and make a link to this forum

  9. Inside of web wallet it states(at least for me;ever since I registered back 3-4 years ago) important notice: ‘Your wallet may be subject to limitation / disruption including permanent or temporary withdrawal of access according to regulatory requirements.’, don’t write just that, explain it a litlle more in detail what does it mean and when can that happen, as it could clearly put fear in people and stop them from using app or web wallet

  10. Don’t discourage people from using app(‘Not your keys, not your coins’) as almost all utility is inside of app, also you want people to trust you; I also hear in community that paper wallets should be used and just transfer into app when you need it, and that is nonsense:
    1)It will be locked because of KYC whether you hold it all the time or you just transfered it to use it
    2)It might not get locked only if it is under some treshold(100 EUR in 3 months?, I can’t remember, doesn’t matter), but we don’t want ETN to be just used for small transactions, and also a lot of people would than leave it in app in a first place(and wont bother with paper wallet)
    3)One thing is to encourage people to use paper wallet to not get hacked and another thing is to encourage them so they wouldnt be locked by you(you don’t want people to not trust you - as it is clearly contradictory with what you are trying to achieve)
    4)If you are encouraging people to use paper wallet(to not get hacked), then link to paper wallet creation inside of app and explain it

  11. There has to be more info about ETN and FAQ(as mentioned earlier) right inside of app. If you want ‘mass adoption’, then everything has to be easy accessible as most people are lazy to look for themselves

  12. Maybe non-related, make a link inside of Telegram group to ‘Original ETN Price’ group where they can talk about price

  13. This is meant to be constructive critism and help ETN get better, not a FUD. I know it is not a time to write this as price has risen now, but we need to critize also and make suggestion to get better(and also praise, when things get achieved). On Twitter I see many people always complaining and being all the way one side of spectrum but also here on forum some people always praising, defending and not allowing to criticize Electroneum and being all the way on another side, and the thruth is somewhere in between(as almost always in life).

  14. I’ve done KYC before, so I don’t know if some things mentioned are already implemented, but if they aren’t I think it would help to implement it :slight_smile:

Completely agree. I do not know how what they are doing now is even legal. Also they need to promote the GUI wallet and tell people to use that instead of the CLI wallet.

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f81d746f5fd9512ee4f9 said:

Completely agree. I do not know how what they are doing now is even legal. Also they need to promote the GUI wallet and tell people to use that instead of the CLI wallet.

The team are following the law very closely as required under their jurisdiction. They work hand in hand with a legal firm to ensure everything they are doing is correct. It’s a shame KYC is required for the platform, but that’s the price we pay for giving third parties the regulatory confidence to integrate or partner.

Regarding your second point, the team recommend using paper wallets for the storage of coins…it is even in the Best Practice guidance on the main site…and has been said by the team in interviews more times than I can count. That guidance is universally pushed in every crypto project/exchange and is no different for ETN.

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Well it is legal, everything they do is in terms & conditions, I just think they can improve it by these simple updates, and reduce number of tickets so much as people will know that they need to do KYC. I agree with you, that they should promote GUI wallet instead of CLI wallet.

Please read what I say before you respond:

1.I know KYC is required and it should be, I just stated how it could be improved with these simple to implement updates, and it would reduce number of tickets so much and team could focus on other things and you would see much less complaints on Twitter and Google Play

  1. It is not my second point, I made 14 of them. I know they stated many times that and it is in Best Practice guidance, but fact is that a lot of people download app without visiting a website. Also I explained the difference of using paper wallet to not get hacked and using it because of fear of getting your funds locked. I also explain why depositing the funds into app only when you want to use it does not solve the problem. Please read point 10.

  2. I don’t want to ‘fight’/argue(or whatever), but I don’t like your generic response without reading my points. You are just just defending team, and that won’t solve anything. It is not about defending team(and I am not attacking them), it is about solving issue, and getting improved. Fact is that a lot of people will register, deposit funds, get locked and than complain. And that will just keep increasing, if they don’t do something. Rather than keep doubling support staff, I suggest these small improvements, and I seriously don’t know how anyone who support ETN could disagree. I obviously support ETN and want to improve it(as any investor should).

  3. People will keep complaining and you can keep defending ETN, anyways price is good now, so who cares, right(I shouldn’t, since I don’t have issues with KYC)?

Wasn’t responding to you e8 :+1:

Oh, ok then, sorry I misunderstood :smiley:

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@BegaMutex

I discovered a company (Mitek Systems, Inc.) here in the states that has experience vetting individuals for KYC/AML compliance in the blockchain space.

From their wiki page:
Mitek Systems, Inc is a software company that specializes in digital identity verification and mobile capture built on artificial intelligence algorithms. The company’s technology allows people to deposit checks via their mobile phones[1] and open bank accounts from mobile devices.[2] Additionally, the technology verifies people’s identity with patented algorithms that capture, classify and authenticate photos of identity documents including passports, ID cards, and driver’s licenses.[3] The identity of the person holding the document is confirmed through a biometric facial comparison of the photo on the document to a selfie.

I’d be surprised if the Electroneum team doesn’t already know about Mitek since they are probably the top company in the world for Mobile Capture & Identity Verification. In the off chance that they are unaware, it may be worth passing on this info to the team.

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Hi Moon. I think Yoti had similar services.

The ID checks are not an issue, as per the last set of tweets on KYC from the team, the support team clear them as they come in…its the Proof of Funds checks that are infinitely more complicated and take time. A service like Mitek wouldn’t be able to help with that. But thanks for the info…never hurts to pass that kind of thing on here. :+1:

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36 days ago I got lock out of the app after trying to sent some ETN to an exchange.
Today I had the 3 request for info.

  1. First was my ID check - A MergePdf/Jpg with both sides of the ID
  2. Proof of Adres - a utility bill with name, adres and proof of payment of that bill with a bankstatement.
  3. Proof of income - paycheck and bankstatement of receiving that. I sent that in today.

What will be next?! ?!

I had several rejections of documents, so I had to do some steps over, but in general it take about 7 days to review each step.

Wouldn’t it be easier to combine some of the steps to speed up this proces.

Cheers…will let you know how it goes!

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