Many banks and consortia are dedicating time to exploring the features and associated benefits of blockchain, particularly as they pertain to data privacy, immutability and transparency. Conceptually, it is possible that a blockchain enabled KYC solution could rely on a network of primary sources and trusted third parties to build complete KYC records in an automated way.
“Conceptually, a blockchain enabled solution could rely on a network of third parties to build KYC record, without the requirement for clients to provide documentation.”
Gareth Walker, Head of Proposition, Thomson Reuters KYC as a Service
Thomson Reuters KYC as a Service
KYC as a service offers an innovative platform which integrates regulatory technology, market leading entity data and accredited operational capabilities. It delivers and maintains a set of collected information based on public and private data, unwrapped, screened and validated KYC profiles. Our clients across the industry can rely on us as a critical component of their customer due diligence process.