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Deloitte develops blockchain PoC for customer onboarding

Wednesday 10 May 2017 | 10:00 AM CET

Deloitte has developed a new blockchain proof-of-concept called ‘Kick Start’ (KYCStart) to perform customer onboarding.

The blockchain PoC model focuses on onboarding customers across various platforms and organizations by introducing extensible Digital Identities and the concept of regulated KYC Added-Value Service Providers. Thus, customers can control directly to whom they share their personal information and documents, making a track of these authorizations in the distributed ledger with the help of smart contracts.

In the blockchain model, the KYC Added-Value Services Providers are regulated entities, authorized to conduct KYC (Know-Your-Customer) services for user communities that are willing to enter in business relationships with various institutions such as banks, insurance companies, funds, asset servicers, among others.

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