Locally based, digital identity security company SQR has been awarded a five year contract with the Isle of Man Government’s Central Registry.
In partnership with software development and digital transformation experts, PDMS, SQR has been selected to provide an independent identity verification solution for the government’s Central Registry.
The SQR application, which is certified on the UK Government’s Digital Identity and Trust Framework (DIATF), will be used to seamlessly verify the identity of beneficial owners in the Isle of Man.
Government contract
In line with its commitment to maintain the Island’s reputation as an internationally responsible and increasingly sustainable jurisdiction, the Central Registry invited expressions of interest from digital identity solution providers to enhance the quality of its current database of beneficial ownership.
Fulfilling this requirement gives Central Registry the surety that the identities of beneficial owners are credible and digitally verified.
The SQR solution was selected as a trusted, reliable and independent third-party platform, to provide a simple and seamless method of identity verification; offering assurance for the Central Registry that beneficial owners are who they say they are by validating the data that is held on the registry.
Beneficial owners required to verify their identity will be alerted via email.
Once completed, these individuals will benefit from the creation of a free-to-use reusable digital identity, which – with express user consent – can be securely shared with other SQR partner organisations to ease onboarding in the regulated services sector.
The new service will come into effect in July 2024.
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