Sustainability
The advancement of technology has profoundly impacted our environment. Innovations in energy-efficient systems, less reliance on paper and manual processes and renewable energy have significantly reduced carbon emissions and improved resource management. Balancing technological progress with sustainable practices is crucial to mitigating environmental harm and ensuring a healthier planet for future generations.
Balancing costs and sustainablility are a real challenge. As we increasingly move towards automation and artifcial intelligence (AI), it has been measured that one prompt is equivalent to the energy needed to purify a half litre of water.
Imagine 1m annual residential property transactions. Working on averages, there are 1.8 people in a purchase or sale, excluding gifters. Up to 5 IDV & AML checks per buyer and seller equating to 18 IDV & AML checks carried out per transaction. This means that there are 18,000,000 IDV and AML checks carried out annually
Cost of data storage and management, security, mobile phones, paper copies, storage on local drives, central systems, multiple systems. All being repeated up to 5 times and quite often the same data sources are being used to verify the same identity.
7.2m global datacentres, who consume huge amounts of electricity to power them and millions of gallons of water to cool them. This leads to 100m tonnes of greenhouse gases emitted as a result of these data centres.
What would our environmental impact be by reducing the number of duplicate checks even by half?
A Finanically Included Society
We are committed to empowering people to secure a reusable identity that they fully own and can use across various aspects of their lives. Whether it’s buying a new home, opening a bank account, renting a car or gaining access to wider financial services, their identity will be a gateway to opportunity and inclusion.
Today, millions are excluded from essential services due to a perceived lack of identity. This gap not only isolates them but also limits their potential. We must break down this barrier by ensuring that organisations have the right data to accurately assess a person’s identity, preventing unnecessary exclusion.
Building a sustainable society means ensuring that everyone, regardless of their background, has the tools to participate fully in the economy.
We are focused on making this vision a reality.