NIFA Releases China’s First National Fintech Identity Verification Platform
Early this week, the National Internet Finance Association of China (NIFA) released China’s first Fintech identity verification platform. This was a response to the requirements of various Fintech industry practitioners and regulatory authorities. In the future, the platform will use advanced identity verification technology to integrate the data and offer its member institutions with one-stop service. It is believed that this platform will help reduce the operational cost and increase the efficiency of verification.