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Welcome to RAPID, The Onboarding Portal. RAPID is the main component of RVG’s data management platform utilizing the concepts of Passports, Tokens and Smart Contracts to streamline the collection and secure storage of onboarding information. RAPID will allow clients (end-users) and financial institutions to accelerate time to market while keeping important data secure and readily accessible to both entities as needed or required by regulators.
RAPID functions as an identity exchange. Standard industry questions are asked of a respondent, then the responses stored. The responses are then externally verified using any combination of user-defined methods, ranging from blockchain network consensus, external vendors and API’s, to legacy manual recognition and processes. RAPID creates a unique “Passport” belonging to the respondent, consisting of all their information and data. When two counterparties decide to onboard with each other by looking at each others Passport, their unique relationship is captured as a “Token”. A Token in this sense is a digital file containing all related information from this mutual onboarding process.
RAPID is a working POC built on a proprietary mesh, written in HTML5/JS, Python, and Go. RAPID creates a digital identity on a shared platform for onboarding of retail, SMB’s, and Financial Institutions. It keeps the information and data in the hands of the client and using independent and external verifications including; blockchain, external API’s, and legacy manual processes. It also provides audit features, transparency, and accountability while increasing efficiency and improving time-to-market issues.
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