CLEAR expands into financial services and launches its first reusable KYC solution

One-touch KYC solution brings together a seamless onboarding experience and CLEAR’s embedded 17 million person user base. Despite the proliferation of similar KYC offerings, over 40% of potential customers abandon the sign up process due to friction, including KYC verification. This reusable KYC product allows a customer to quickly complete the process once, and not have to repeat the same steps when signing up with another financial services company.

CLEAR, the secure identity company, announced its first product in financial services – continuing its push into new industries – with one of the only reusable Know Your Customer (KYC) solutions. In compliance with KYC regulations, CLEAR’s one-click KYC technology will ensure that the end consumer is who they say they are – confirming their identity through a series of verifications. New users will be able to enroll once, unlocking the ability to verify with CLEAR across its growing network of partners across healthcare, hospitality, sports, entertainment and other industries.

„Identity verification and secure authentication is fundamental to modern financial services, and CLEAR’s reusable KYC solution delivers something new: a frictionless consumer-focused signup that will help partners successfully enroll customers,” said CLEAR CEO, Caryn Seidman Becker. „While this is new to financial services, it will feel familiar to our 17 million members who have benefitted from how we have leveraged technology to save them time.”

This expansion of CLEAR’s identity platform comes from its acquisition of Sora ID who developed the technology that is KYC compliant, and is transferable across financial institutions – creating a unique, reusable product. Delivering a differentiated user experience will benefit financial services and banking – helping convert more potential customers into active consumers while securely verifying identity.