The Tracing Group uses Tokenbridge’s blockchain tech for KYC, AML and ID processes

Tokenbridge, a B2B tokenisation platform, has partnered with financial client data firm The Tracing Group (TTG) to integrate blockchain technology for streamlining its know your client (KYC), anti-money laundering (AML) and client identification processes. 

TTG has enlisted Tokenbridge to implement technology facilitating “hyper-personalised tokenisation capabilities”. The tokens would enable TTG to simplify customer onboarding by securely recording personal details via blockchain and streamlining processes like opening bank accounts. This initiative would reduce costs and eliminate the need for customers to repeatedly fill out applications while also assisting banks in efficiently meeting KYC and AML regulations.  

Daron Pearce, executive chair of Tokenbridge, said: “Personalisation is no longer a luxury, it’s an expectation. Clients expect banks and managers to offer seamless access to services and financial services businesses want to ensure streamlined and secure processes allowing them to enhance client service and improve operational efficiencies while remaining compliant.” 

 Danielle Higgins, managing director of TTG, said: “Tokenisation is the natural next step for the financial services industry when it comes to identity, KYC and AML – to stay relevant, firms will need to consider this technology to appeal to a growing digital-native audience and increasingly savvy incumbent clients.” 

© 2023 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Through AI and ML and cloud-enabled ecosystems, managers are finding ways to cut operating costs, supercharge the customer experience and add value to the bottom line.
FIND OUT MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST