I was working for a startup that was building a stablecoin product, which is basically a  gold-backed stablecoin (G-Coin) . For that, we needed to do identity validation for retail as well as business to business consumers. We didn't have a lot of B2B consumers, so we didn't explore that use case too much. However on the consumer aspect, we were basically doing all the data collection for each user on the app [ReactNative], and sending all PII data to IdentityMind via API to check the information against databases to make sure the digital identity of the user is known, transactional patterns are understood and their ID document is genuine and to make sure that they actually reside at their physical address, face matching against the ID and so on.

We would do initial merchant applications and ongoing merchant reviews. What we would essentially do was plug all the information into IdentityMind, and we were using it essentially as an ongoing sanctions check platform. What IdentityMind carried out were daily or weekly checks with the sanctions with the multiple functions across multiple jurisdictions. If there were issues, we would be alerted; if there was any issue regarding, for example, if somebody appeared on a sanctions list. Once we get the alert we can investigate, ask, and follow up with the appropriate action.