Deverium CTO Edvardas Maslauskas and CEO Erika Maslauskaite
Deverium, an international software development company, in collaboration with partners Corner Case Technologies, has secured €2 million in EU funding to develop an identity verification product. The aim is to establish a leading distributed, reusable digital identity platform that targets complex international identity verification challenges.
The new product from Deverium and their partners Corner Case Technologies, experts in cloud-ready web and mobile applications development, aims to address the fact that there is no universally accepted interoperable digital ID solution that works across different countries and is recognized by different governments and organizations.
In the European context, ineffective identification practices cost financial institutions over €5.7 billion annually, with 68% of European consumers abandoning the onboarding process for financial services. Businesses worldwide face high costs associated with onboarding individuals onto their platforms, due to complex KYC/IDV solutions and processes that need to be repeated each time a user accesses services or purchases products through a digital channel. As a result, many users abandon the process, leading to lost revenue for businesses. It is estimated that enhancing KYC processes with automated solutions can reduce onboarding costs by 70% and turnaround time by as much as 90%.
According to Erika Maslauskaite, CEO of deverium, the new product concept was developed after recognizing these global and European challenges in identity verification processes.
“Leveraging our expertise in digital identity, gained through previous collaborations with leading IDV companies, we are committed to creating a comprehensive solution for cross-border IDV challenges. This EU funding provides us with the opportunity to develop a minimum viable product and then scale it globally.”
“The platform is built to give users enhanced control over their data privacy, using innovative techniques to protect personal information. This approach aims to simplify the onboarding process and reduce identity verification costs for businesses.”
Deverium CTO Edvardas Maslauskas and CEO Erika Maslauskaite
“We are employing advanced cryptographic methods and distributed architecture to build a secure and interoperable global digital identity platform. By leveraging frameworks like the EU’s eIDAS standards and scaling them up for global applications, this new solution ensures compliance while facilitating seamless cross-border verification. ”
deverium is an international software development company with a strong local presence in Lithuania, the United Kingdom, and Sweden on a mission to leave a lasting impact on the tech industry and transform the way products deliver the best digital user experience. With a focus on developing enduring software partnerships, deverium creates modern mobile software solutions and digital innovations for enterprises in the US, UK, EU and Scandinavian markets.
deverium has strategic partnerships with leading global PLC and Enterprise companies, identity verification providers, and major players in global parcel shipping and e-commerce such as GBG PLC, InPost, Humm Group, and Red Bull.
The Company is a proud member of Fintech Poland Association and ACT Association – a global trade association for medium-sized tech companies, entrepreneurs, innovators, and independent developers.
Our work would be nothing without the diverse, enriching tech and creative communities
CEO, Co-Founder
Erika, known as the champion of innovation and a curious strategist at heart, is a force to be reckoned with in the world of business development and digital transformation.In the past, Erika worked as an Executive & Board Member at major companies and startups in Tech, Fintech, Telco & Media industries, where she successfully led the Strategy & Business Development divisions. She has also co-founded the largest Innovation & Tech Festival in Baltics, LOGIN. Furthermore, she is an active member of the Lithuanian Tech community, serving as the ambassador of the WomenGoTech mentorship initiative and the board member of Fintech Hub LT.
Co-Founder
Darius is the IT transformation professional and self-described geek with a strong set of technical and interpersonal skills—a killer combination that has bolstered his success over the last ten years. Through years of international work experience, he has managed diverse teams and completed complex assignments in such areas as IT development, organizational change management, and big infrastructure and network development projects. Over his career of more than 15 years in telecommunications and Fintech industries, Darius has transformed big enterprise companies and led enormous business projects in Nordics and Europe. His sharp eye for detail and his dogged pursuit of the most efficient solutions possible have made him into thes keen and reliable tech industry leader that he is.
Head of Technology, Co-Founder
Edvardas is always ahead of the curve when it comes to delivering high-quality digital solutions and products. He has a vast knowledge of various technologies and platforms and a proven track record of leading complex enterprise-level mobile software development projects, while overseeing the whole SDLC process. In addition to his passion for all things tech, he also excels in leading teams, managing relationships, and supporting tech product development. He has led numerous multicultural teams developing products for Fintech companies in the area of AI and Machine learning , earning himself a well-deserved reputation as a mobile technology leader and the go-to person when it comes to digital transformation.
