# Identity Verification

**What is the Identity Verification?**

Participation in an IPO requires identity verification. This is a straightforward automated process, focused on confirming your identity. 

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The ID Verification takes about 2 minutes, only requires an ID, and there is no human interaction.
{% endhint %}

**Why Do we Verify your Identity?**

When you buy shares in a startup on our platform, you're directly investing in that startup. As these startups operate in the traditional Web2 world, they need funds in FIAT currencies. The banks with whom we partnered require us to complete an identity verification.

**Which Data Do You Collect?**

The following data will be collected:

* Name
* Nationality

**Who Can Access this Data?** 

Your data is confidential, with access limited to:

* Sumsub
* Arcton
* A Swiss bank

No one else will have access to this data, and we won't share your data with anyone else. Swiss law also strictly prohibits such unauthorized sharing.

**Who Handles the ID Verification?**

We've partnered with Sumsub, a renowned third-party service provider that serves over 2000 customers worldwide. They've conducted millions of identity verifications without any data breach. When investing, you'll be redirected to Sumsub's automated procedure.

**Which Laws Protect My Data?**

Your data's protection is rooted in strong legal frameworks. We adhere strictly to the Swiss Data Privacy Act when handling and storing your information. In addition, the banks involved in processing your data are governed by the Swiss Banking Secrecy Act, one of the most stringent regulations worldwide in safeguarding financial and personal information.

**Which Technical Measures Protect My Data?**

We utilize strict security protocols for data protection. Your data is stored with Sumsub, a leading identity verification provider known for its advanced encryption and security infrastructure. Sumsub collaborates with top global institutions and has never experienced a data breach.

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If you're only interested in the secondary market, Identity Verification isn't required.
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