We talked to Dmitri Laush of GetID about an affordable and reliable Identity Verification solution for KYC and Customer Onboarding.
First of all, how are you and your family doing in these COVID-19 times?
Dmitri Laush: We’re doing well. We follow all the Covid related rules and restrictions, like wearing masks and working from the home office, etc.
Obviously, travelling possibilities are limited at the moment.
On the positive side, working from the home office has allowed us to create extra time since you don’t have to spend time driving to work and such.
Tell us about you, your career, how you founded GetID.
Dmitri Laush: I have over 15 years of experience in the financial industry. During this time, I’ve gained a lot of knowledge about compliance and regulations in the financial sector, their importance. I’ve also come to realize that compliance and regulations create a lot of challenges for financial organizations, especially during expansion, and how they affect the customer onboarding process. I saw that there are problems that need to be solved. So, we decided to create a solution that could help financial organizations to effectively onboard customers online, prevent fraud and stay compliant with regulatory requirements.
How does GetID innovate?
Dmitri Laush: Our mission is to provide clients and business partners with an affordable and reliable Identity Verification solution for KYC and Customer Onboarding. Our service helps other companies to bring down the operational costs, automate and streamline the onboarding process. We’ve created a solution that’s fast and secure, compliant, flexible and cross-platform. Also, we’re heading towards creating a no-code software which will allow our customers to integrate our solution into their workflow even faster.
How the coronavirus pandemic affects your business, and how are you coping?
Dmitri Laush: We’ve had to switch our day-to-day operations to home offices. That hasn’t really affected the productivity of our team, since a part of our development team had already been in different locations prior to Covid. Several online communication channels and task-planning software allow us to keep the communication flow and productivity on a high-level. Covid has only proven that we’re able to instantly switch to remote work.
At the beginning of Covid, the response time from other companies and customers increased. We can see that the demand for identity verification has risen, but it takes more time for clients to set up and implement our products since they may have their own priorities or limited human resources.
As far a customer acquisition goes, we haven’t seen any real impact so far. Since our software solution is used for online customer onboarding, our clients are businesses operating online.
Even more, Covid has forced several other industries to shift/switch online meaning that they too have to verify and onboard their customers online.
So, Covid has created more demand for online Identity Verification services.
Did you have to make difficult choices, and what are the lessons learned?
Dmitri Laush: As we’re aiming to provide our customers with the best possible product, we need to be constantly upgrading it. So, the most difficult choice is to keep the balance between growth, quality and innovation.
How do you deal with stress and anxiety?
Dmitri Laush: Family support, sports activities and great results in the company are the best stress relievers.
Who are your competitors? And how do you plan to stay in the game?
Dmitri Laush: Some of our competitors are Veriff, Shufti Pro, iDenfy, Jumio.
We want to find our niches. Our flexibility should form a direction where we can be the best.
Our focus is on automatization, no-code solution, flexibility, and customization.
Your final thoughts?
Dmitri Laush: We believe in the optimization of the onboarding process and its security.
Since Covid has raised the demand for remote onboarding, more and more businesses will have to rely on remote customer onboarding. Therefore, it’s important to take care of the onboarding process – to make it fast, secure and comfortable for clients.
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