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Reimagining KYC Using Blockchain Technology

 

Ganesh Raghavan Padmanabhan

Domain Consultant, Banking and Financial Services (BFS), TCS

Anusha Sivaramakrishnan

Domain Consultant, Clearing and Settlement Group, BFS, TCS

Enabling seamless and secure data exchange at a fraction of the cost.

Blockchain technology can effectively help banks improve their Know Your Customer (KYC) process by:

  • Facilitating near real-time data exchange

  • Using intra- and inter- bank verification

  • Reducing processing costs substantially