Blockchain HELIX –
a game changer for KYC-processes
In many industries but especially in the finance industry legal obligations require comprehensive validation of user identities before being able to provide a service.
This process requires a discontinuity in media as users are required wait for a validation through slow postal services-based identification. This reduces potential conversion rates of online services. Additionally the user must undergo a tedious process.
However, the cost of onboarding new customers through means of comprehensive KYC processes is also high for companies and institutions. KYC-processes have produced approx. costs of US$18 bn in 2014. Most of this unnecessarily as these processes are repeated over and over again – by other companies.
Blockchain HELIX fundamentally changes this by utilising Blockchain technology to allow institutions and companies to share verified data – while being fully complient and under full customer control over the data.
Blockchain HELIX –
Covering the 10 commandments of digital identities
Users have an independent existence — they are never wholly digital
Users must have access and control to their own data — no gatekeepers, nothing hidden
Identities must last for as long as the user wishes
Transparent and open systems and algorithms
Identities should be as widely usable as possible; e.g. cross borders
Information and services about identity must be transportable by the user – no platform lock
Users must freely agree to how their identity information will be used
Only the minimum amount of personal data needed should be granted
The rights of individual users must be protected
Right to be Forgotten
An individual has the right to demand that data controller erases any or all data held about an individual by that controller
Data you can rely on –
the Trust Provider Network
KYC processes are undergone by customers multiple times when they want to open an financial account. This is an ordeal for customers and hampers the growth in innovative Fintech services.
Additionally validated fully compliant user data is expensive to acquire for companies as well in regards to manpower and necessary monitoring.
Reducing cost of KYC processes to a minimum
Blockchain HELIX uses Blockchain to allow institutions and banks to safely share validated data in an near instant process dramatically increasing the speed of KYC processes while hughly decreasing the cost of onboarding.
This system is called Trust Provider Network. Basically this network connects many different institutions in a standardized platform, allowing them to share work force, increase data quality, streamline processes and optimize costs. The platform is totally compliant with data protection regulations, once users are the only ones that can grant access to trust providers and trust takers.
“We believe blockchain has the opportunity to streamline and potentially transform anti-money laundering (AML) compliance procedures. “
Founder & CEO – Oliver has been working as an IT specialist, consultant in the fields of IT security, enterprise Java portals, social media, intranet/extranet, IT infrastructure, databases and virtualization. He is also the founder of FinTech Headquarter, a community booster for the FinTech ecosystem and blockchain LABs.
LinkedIn | XING
PM & QM – Sandra has worked for years as online marketing manager and in 2015 joined FinTech Headquarter as community manager. Since 2016 she has been our P&Q Manager. She holds a Magister Degree in Sociology, Business Administration and Psychology from Goethe-Universität.
CTO – Lothar has already worked in many projects regarding IT for institutions like Federal Republic of Germany, Mini and BMW. As a docker specialist, blockchain –enthusiast and fullstack developer, Lothar has been able to understand all aspects of the technology, proposing better approachs for the challenges we face.
Blockchain Specialist – Graduated as a mathematician from the University of Trier, Jochen has been for a long time a blockchain-enthusiast and is since middle 2016 as our blockchain specialist.
Dr Jochen Biedermann
Henri de Jong
Blockchain HELIX is looking for growth capital. If you are investor and are interested in investing in our technology - Let us know.
We are more than happy to supply you with any information you may require.
Work with us!
We are always looking for great people to join the team.
We look for passionate students and professionals.
If you see yourself as an innovation enthusiast, please send us your application!
Skills we are looking for: