E-ID tech for offshore firms launches in Isle of Man

Verify by Tiller tool goes live today

An E-ID and KYC verification tool for regulated and supervised businesses in offshore jurisdictions is being launched in the Isle of Man today (24 October).

'Verify by Tiller' was developed by Jersey-based Tiller Technologies Ltd. and is already being used successfully by many leading offshore financial services, accountancy and legal firms.  

The E-ID solution has also been praised by the government in Jersey for helping to improve the island’s operational and regulatory practices.  

A launch event is being held at The Santander Work Café, Douglas, today from 3pm to 4pm.

Tiller Technologies Chief Executive Jonathan Wauton said: "We’ve had a great response to Verify by Tiller in Jersey and Guernsey, so we’re really excited to show businesses in the Isle of Man how they could gain similar advantages too. 

"Of course, all the Crown Dependencies have unique advantages and challenges as offshore jurisdictions, but there are factors common to all offshore business centres where E-ID technology can help to ensure efficient, cost-effective AML and KYC compliance as the regulatory landscape continues to evolve. 

"At the launch we will be explain how digital E-ID technology works, why it’s being adopted globally as a preferred approach to managing KYC, and then go into the regulatory and operational benefits that E-ID can deliver for international offshore businesses."

Jersey Senator Ian Gorst, Minister for Financial Services, added: "The Jersey government is actively working with financial Institutions and regulated businesses to promote the adoption of cutting-edge technology, such as digital onboarding services, for improved operational and regulatory practices.

"As such I am really pleased to see this Jersey-based initiative."