Exclusive Interview: This How DOOT Is Solving KYC Problem With Real-Time SaaS-Based Identification Tool
Here is an exclusive interview with Siddhaant Mohta, who is the Co-Founder at DOOT.
This exciting startup claims to be world’s first ever iD messenger: a tool for real-time authentication and sharing of critical verification data.
How does it work? What is the company’s vision?
Checkout the questions and the answers right here!
1) As a startup what are your goals in 2021?
We have three key goals in 2021:
- Broaden our existing partnerships with service providers
- Increase R&D to enhance our product offering
- Enhance product reach by increasing awareness
We aim to have 20+ service providers on-boarded by year end 2021, which will include essential service providers such as civil aviation, urban transport, and other stakeholders from industries such as financial services, telecom operators, educational institutions amongst others.
2) What is your business model?
DOOT is an IDaaS provider both to consumers as well as day-to-day essential service providers like banks and airports. The DOOT app is free for consumers to use.
We will be charging our clients for proprietary products within our ecosystem that offer the following solutions:
i) Digital KYC
ii) Contactless Real Time Authentication
iii) Ultrasound Payments
3) Looking at the way things have changed, what are the new things that you as a company are adapting to?
The Indian government has ushered in an era where everything is going digital under the ‘Digital India’ programme. In addition to that, the COVID-19 pandemic has sped up the adoption of contactless technology, which is here to stay. We have adapted our technology and product to provide digital, contactless solutions to industries such as civil aviation, urban transport, education, financial services and hospitality.
4) What is DOOT and how does it work?
Doot is an IDaaS provider. Our ecosystem validates and authenticates a user’s profile using valid government issued identification data points. This pre-authenticated data can then be shared by users on their consent and by their choice in three different use cases:
- Digitally, to complete ID verification processes such as KYC for banks
- Using SVAN- our patented ultrasound technology- in real time for access control
- To make contactless payments using DOOT Pay, our proprietary payment technology
5) Can you describe your target audience?
Our target audience is all citizens of India who want to access ID based services digitally or in real time, using a mobile application from the comfort of their home.
6) What are the security concerns of people sharing their documents with DOOT?
DOOT offers industry standard end-to-end encryption and has safeguards against lost device and other potential cyber attacks. Therefore, we do not envision any security concerns for DOOT users.