The Avoco Open Loop Identity Network

What is the Avoco Open Loop Identity Network?

• A service that provides the rails to create identity and data ecosystems
• De-couple identity accounts from transaction – no account needed, seamless, on-the-fly attribute sharing for secure, privacy-enhanced transactions
• Automated on-boarding of relying parties and identity providers – Trus-T provides the connectivity to hooks up an identity ecosystem.
• Services can use the power of identity federation using established third-party identities to make user journeys and the UX fantastic
• Your customers get an easy way to transact with you.
• You no longer need to worry about storing sensitive data.
• You no longer need to be concerned about providing secure account recovery.

• Onboarding services to the open loop network layer is simple and fast.
• Let your customers use existing identity accounts, including bank account IDs via Open Banking

The extended Open Loop Network Layer service also provides:

• Optional dynamic layering of attributes during a transaction to increase a level of assurance; this helps to increase trusted access and meet AML/KYC requirements
• Event-driven transactions based on configurable rules
• User consent as part of the design
• Consents can be audited and held in an immutable record on a blockchain or traditional store
• A low friction, highly trusted, scalable and secure cloud service is delivered at low cost
• Avoco provides optional support for the use of different eWallets, including decentralized wallets