IBM Blockchain Helps FinTech Startup KYCK! Address KYC Challenge
IBM Bluemix Garage has unveiled that Singapore FinTech startup KYCK! is to use its blockchain in a project to fast-track the know-your-customer (KYC) on-boarding process in financial organizations, according to a report from Yahoo!. It is hoped that by using the blockchain technology banks will be in a better position to enhance operations for on-boarding customers, reducing the time and expense that is normally required. By utilizing the Hyperledger Project Fabric, IBM Bluemix Garage in Singapore will work to create and test the solution, which is to be built on the Hyperledger Fabric.....
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At this year’s Singapore FinTech Festival, the fintech startup KYCK! and IBM announced a collaboration involving a blockchain Know Your Customer (KYC) project. The Singapore-based company will use distributed ledger technology to onboard clients in a secure environment. Singapore Startup KYCK! Initiates Blockchain KYC Verification. According to IBM,....
IBM's Bluemix Garage in Singapore has announced a new effort aimed at helping financial institutions better comply with know-your-customer (KYC) requirements using blockchain. Announced yesterday at the Singapore FinTech festival, the project (a collaboration with KYC startup KYCK!) aims to provide enhanced identity verification services, enabling KYCK!'s customers to more rapidly on-board customers in a secure environment. The hope is the service will reduce the time and expense financial service providers encounter when on-boarding new customers and complying with KYC regulation. Using a....
IBM has announced a Blockchain project that would help banks address the need to prove the identity of a person or organization, source of funds, business interests, history and also monitor for changes. The Know Your Customer (KYC) is a global anti-money laundering measure that enables banks and financial institutions to understand their customers and their financial dealings, to be able to serve them better and manage its risks prudently. However, compliance with these regulations measures has been a global challenge. At the Singapore FinTech Festival, IBM announced its partnership with....
Bitcoin companies who are part of this year's Innotribe Startup challenge, a contest run by the international payment network SWIFT, have the opportunity to partner with and be mentored by some of the world's most prestigious financial institutions. "What really sets the Innotribe program apart is the coaching we give the startups in how to engage the more established financial services providers," said Mike Sigal, Innotribe's lead coach. "There's a chasm between how startups and banks practice innovation, and helping our startups understand how to communicate their value propositions to....
Blockchain startup Hyperledger won the Innotribe Startup Challenge finale at the Sibos conference in Singapore and bagged $50,000 in prize money. The company specializes in shared ledger technology for decentralized data management and was recently acquired by Digital Asset Holdings. Other bitcoin and blockchain firms that made it to the finals were Bitspark, a remittance service based in Hong Kong, and Elliptic, which is a bitcoin storage and analytics firm. Hyperledger's Blockchain Technology. Prior to winning this year's fintech challenge sponsored by SWIFT, Hyperledger was also one of....