What is Soyio and what does it do?
75% of users would not buy from companies they don't trust when it comes to how their data is used.
And that is not me, or us at Soyio, saying it: it is the Cisco 2024 Consumer Privacy Survey [1]. It is one of many research- and data-based publications in the Cisco Cybersecurity Series, and it draws on a survey of more than 2,600 consumers across 12 countries around the world.
Soyio was born with the vision of building a platform where privacy and control over personal data become personal again. If you landed here, you may have seen or heard that we do something around identity and consent management. Today I want to walk you through our product so you get an overall picture of what we do.
Soyio is a suite of digital services designed so that companies can live up to their commitment to user rights in a solid way, bringing trust to data exchange and making privacy control easier for every user.
You can use Soyio's services separately or together. Each module brings its own benefits, but using them together is how you get their full potential.
With Soyio you can speed up digital processes, improve the experience for your users and access their verified data, backed by the consents they have granted, thanks to Soyio's digital identity network.
Digital Identity
Many industries that offer digital services are required to verify their users' identity. Think of the bank asking for your ID card to photocopy it, or the clinic asking you to pay for your appointment by showing your ID card and using your fingerprint as verification. Those in-person processes are now moving to the digital world.
These checks matter more and more: they help prevent financial fraud, block unauthorized access to sensitive information and protect users from impersonation attempts.
At the same time, that verification has to be secure both for people and for the company. And people should understand why they are being asked to show their ID document, use their fingerprint or take a photo, and what it is for.
To make these processes easier, you can use:
Identity Verification Module: lets a company verify a user's identity within a digital process, so it can offer its services knowing the person is who they say they are.
Authentication Module: lets the company authenticate users who have already completed an identity verification process with it, using either passkeys or facial authentication.
Agreements and Consent
When someone signs up for a digital service, they generally accept the terms and conditions set by the company, either by signing a contract or by accepting them electronically
Usually these agreements define the terms of the service. But they also govern —more or less explicitly— the use of the personal data the user will provide. Ideally, they should spell out clearly and accessibly what data will be collected, for what purpose and how it will be safeguarded. By accepting the terms, the user is understood to have been informed and to consent to the use of their data.
By signing or consenting digitally, you as a user are understood to know about and accept that your data will be used in the way described. For that acceptance to be legally valid, it is essential that it is voluntary and that users were informed clearly.
At Soyio we offer modules to speed up signing and consent collection.
According to a Visa study on consumer empowerment, 61% of users worldwide prefer companies to have standardized consents [2].
What sets Soyio's modules apart is that they use shared symbols and plain explanations that standardize the uses data will be put to, which makes them easier to understand.
Signature Module: lets the company autofill a document with the information the user provided, and the user can sign it instantly with strong authentication. The company knows that whoever signs is who they claim to be, and as a user you know that nobody will open accounts or sign up for services pretending to be you.
Consent Module: lets the company request consent from its users in a granular, clear and quick way, right at the moment it is needed.
Rights Manager Module (rights of Access, Rectification, Cancellation, Objection and Portability): lets the company quickly open a digital channel where its users can exercise their rights over the use of their data, in line with personal data protection regulations. Thanks to our automations, we help companies respond to every request properly and on time, and generate the evidence they need for audits.
How does all of this connect?
Soyio is an identity network that aligns the interests of users, companies and the regulator. Through our platform:
People take back control of their privacy, understanding what they share, and
Companies speed up processes and build better businesses by accessing verified information about their users, asking for it transparently and earning trust.
The regulator will be able to carry out enforcement and audits by accessing records of every agreement between companies and users
Identity Network and Privacy Control
Users who complete an identity validation with Soyio can voluntarily choose to create a Soyio account, to speed up processes and use the network's benefits to regain control of their personal data.
On one hand, users can speed up future validations and sign documents by authenticating with Soyio, without having to scan their ID document every time.
On the other, they start regaining control over their personal data with every interaction, because soon they will be able to access a private portal where they can:
Keep track of the consents they have granted through Soyio
Access the documents they have signed using Soyio
Review the information they have exchanged with companies using Soyio
Send requests to the companies they have interacted with so they can exercise their rights.
Identity Network and Process Automation
Companies speed up their processes from the very first moment they use the Soyio suite. Every network user who accesses the company's services can verify their identity quickly, skipping steps and getting a better experience right away.
On top of that, company staff can access Soyio's Corporate Portal, where they have real-time information on every agreement, along with the evidence of consents, signed documents and authorizations granted by users. That is useful for regulator audits and also for keeping track of the data uses each user has authorized.
Finally, you can turn on the Rights Manager module and make sure you respond to every request properly and on time, thanks to our automations and automatic replies.
If you still have questions or want to talk to us, you can get in touch here.
[1] Cisco 2024 Consumer Privacy Survey
[2] The Role of Consumer Consent and Regulatory Interoperability in Building a Trusted Digital Economy - Visa Consumer Empowerment Research
