Tradera
We gained greater trust as a marketplace through Signicat’s identity-proofing
Selling items online offers us freedom, saves a significant amount of time, and allows us to live more sustainably. Quality items should have a long life, shouldn’t they? However, sometimes this endeavor raises many questions and doubts – ranging from concerns about security and platform pricing to the most crucial factor – trust. Tradera enables its 3 million users to dive deeper into sustainable living at no cost, as a commission fee only applies when an item is sold. Nevertheless, how do we maintain a thriving and trustworthy online platform with 6 million weekly visits?
– Selling online empowers us, but it also comes with significant responsibilities. That’s why, when building and maintaining a trustworthy platform, we must keep our security level at a top-notch level. This is where Signicat comes into play, helping us not only to enhance our security but also facilitating our journey towards market expansion.
Head of Trust and Safety, Compliance & Privacy @ Tradera
Challenge
To ensure a safe and trustworthy marketplace, Tradera recognizes the importance of Identity Proofing – a service aimed at verifying an individual's true identity. Meeting high uptime requirements is also crucial for an excellent user experience. Tradera's commitment to quality led them to choose Signicat, a prominent player in the digital identity industry, as their Identity Proofing vendor.
Tradera is also focused on expanding into new markets. Their challenge is to find a partner to help them achieve rapid growth smoothly and effectively. With Signicat's support, Tradera is more confident in scaling into uncharted markets.
Solution
Identity proofing was the solution to Tradera’s challenges. It is highly important for the company, especially in high-value transactions, where authenticating the user´s identity is crucial to prevent fraud and ensure compliance with Anti-Money Laundering (AML) regulations. This practice also safeguards against identity theft, financial fraud, and illicit money flows, thereby enhancing security and trust.
Tradera now utilizes Signicat’s identity proofing to verify the identity of individuals joining their platform, confirming that the person is indeed who they claim to be.
tradera.com is the largest online marketplace in the Nordics for sustainable shopping. (Image Source: tradera.com)
Result
Tradera now uses Signicat for identity proofing in a secure and efficient manner. Trusting a new buyer's identity quickly, while adhering to the highest security standards, allows the company to maintain its reputation as a trustworthy platform.
Tradera's online marketplace is a place where people can feel secure and trust each other. There are no complicated manual steps, convoluted processes, or confusing user experiences. Users can now enjoy a smooth and fast sustainable shopping experience.
Tradera highlights that the onboarding experience with Signicat has also been excellent, and that working with Signicat's APIs is a breeze, allowing them to automatically conduct identity checks in real-time as part of their digital processes.