Blockchain as a service: Know your client (KYC) using Blockchain IT Services

Published on November 3, 2021

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How Blockchain assists banks, retailers, Insurance companies, financial institutions in the KYC Process?

Blockchain is among the hottest technologies in the market place today. Blockchain has the potential to change how we transact business on the internet, empowering users to make secure transactions online. Everything is going digital. Be it filling up of forms, taking court dates or uploading documents for verification. NEFT, IMPS and UPIs have made financial transactions easy by just making a single click.

Know your client is a process undertaken by several industries such as Banking, Financial services, and insurance. Digital is helping develop operational efficiencies for business. The ‘Know Your Customer process, better known as KYC, helps institutions verify the identity of their clients. KYC is a regulatory and legal requirement that has to be fulfilled by the BFSI companies for both new and existing clients. The video demonstrates how blockchain improves the process and minimizes the cost of compliance.

LTI positioned as a “Leader” in Avasant’s Blockchain Services RadarView 2018 Report. Click here to know more

Blockchain IT solutions can boost the ROI of IoT-related investments for the oil and gas, retail and manufacturing industries, as DLT helps address common scalability, privacy, and reliability concerns. By partnering with LTI, you can drive enterprise-wide Blockchain initiatives with ease. We can help you accelerate the time to market for such projects through rapid prototyping, an agile development approach, and by leveraging our strategic partnerships with leading enterprises and academic institutions.

(LTI) L&T Infotech’s Blockchain Services can help enterprises across industries overcome the inherent challenges of their current processes whether it is Banking, Finance, CPG, Retail or Insurance Industries. This video explains how blockchain can be a game-changer, and how LTI can help enterprises onboard Blockchain networks and solutions, through rapid gestation and allied services. Know more –

Solving for Clients with Blockchain –

• Sovereign identity management solution for a large financial services company to reduce the cost of client onboarding, and create a user centric ecosystem.
• Micropayments solution to enable new revenue streams for Media Houses, from pay-per-view transactions.
• Trade finance solution for a leading bank to reduce the trade cycle time and cost.
• Global raw material marine shipment process for a CPG Major to enhance visibility and accountability in the supply chain.
• Asset registration and tracking for a government agency to safeguard buyers’ and sellers’ interests.
• Inventory financing solution for a leading manufacturer to bring the buyer, the supplier, and the bank on the same platform to enhance end-to-end process visibility and reduce cost of financing.

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Who Is Using Blockchain Technology

Who Is Using Blockchain Technology, Blockchain as a service: Know your client (KYC) using Blockchain IT Services.

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