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OCBC, HSBC, MUFG and Singaporean regulator develop KYC blockchain platform

Asian Private Banker - R3 CEO: We are open to private banking collaborations

Amid much hype about how blockchain can be used to standardise know your client (KYC) processes, OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG) have teamed up with the Info-communications Media Development Authority of Singapore (IMDA) to develop a KYC consortium that leverages blockchain technology, according to a joint press release. The KYC blockchain runs on distributed ledger technology,…

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