IBM and Crédit Mutuel Arkéa have announced the completion of their first blockchain project to improve the bank’s ability to verify customer identity. The result of this pilot is an operational permissioned blockchain network that provides a view of customer identity to enable compliance with Know Your Customer requirements.
Frédéric Laurent, COO Innovation & Operations at Crédit Mutuel Arkéa, commented: “Blockchain is a transformative agent in our operational application, as proven by this project — the first of its kind in France. This pilot offers a complete view of customers’ documents across our distributed network. The project helped us to understand and master blockchain for other client uses. Now, we are ready to incorporate this technology in our ecosystem.”