IBM recently announced a blockchain project with Singapore fintech start-up KYCK! to help enable financial services providers to more rapidly on-board their customers in a secure environment. This and other similar KYC projects using IBM Blockchain aim to help reduce the time and expense required to on-board a new client.
KYCK! is a startup, co-founded by three Singaporeans to provide users with information pertaining to the Southeast Asia Exchanges and access to brokerage demo accounts with easy on-boarding opportunities. As former sales traders, the co-founders experienced the inefficiencies of the customer on-boarding process due to stringent financial compliance requirements. This gave them the idea of starting a business that focused on improving the client on-boarding process and enhancing the overall customer experience by deploying secured and appropriate technology capabilities.