S'pore group working on Know Your Customer blockchain system
The consortium, which includes 3 banks, said to be the first in South-east Asia
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE Republic is yet another step closer to using blockchain technology to improve Know Your Customer (KYC), currently one of the most tedious, complex and highly regulated of financial processes.
A consortium formed by OCBC, HSBC, Mitsubishi UFJ Financial Group and Singapore's Infocomm Media Development Authority has successfully completed a proof-of-concept (POC) for a KYC blockchain, the parties announced on Tuesday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
