Blockchain Technology For KYC Training Ppt
This set of slides provides information on the capability of blockchain technology to improve KYC and identity verification in a financial system with distributed data collection,validation of data accuracy,and real-time updated user information.
This set of slides provides information on the capability of blockchain technology to improve KYC and identity verification..
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Presenting Blockchain Technology for KYC. This slide is well crafted and designed by our PowerPoint specialists. This PPT presentation is thoroughly researched by the experts,and every slide consists of appropriate content. All slides are customizable. You can add or delete the content as per your need. Download this professionally designed business presentation,add your content,and present it with confidence.
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Content of this Powerpoint Presentation
Slide 1
This slide provides an overview of KYC which an essential component in the battle against financial crime and money laundering. Customer identification is critical as it is the first step in participating in the subsequent phases of the process
Slide 2
This slide lists current issues with the traditional KYC systems. KYC requirements, such as photo ID verification, address documentation, and biometrics, can take up to three months for banks to verify and complete. Compliance with KYC regulations is, thus, quite expensive. Besides, there is a danger of fraud and hacking
Slide 3
This slide depicts the advantages of using blockchain systems for KYC.
Instructor Notes:
Distributed Data Collection: Blockchain in KYC places data on a decentralized network, where only those authorization can access it
- Enhanced Efficiency: Capabilities such as an unhackable digital procedure and the exchange of user information over a permissioned network can significantly reduce the effort and time required in the early stages of the KYC process
- Validation of Data Accuracy: Blockchain-based KYC technologies provide transparency and immutability, allowing financial institutions to assess data reliable on the DLT(Distributed Ledger Technology) platform. The decentralized KYC procedure streamlines acquiring safe and timely access to updated user data
- Real-Time Updated User Information: When a KYC transaction is completed at a financial institution, the data is shared on a distributed ledger. This blockchain technology KYC system allows other participating institutions to access real-time updated information with the assurance that they will be alerted if there is a new addition or change made to the record
- Decreased Manual Labour: KYC on Blockchain reduces the need for paperwork
Slide 4
This slide illustrates how Blockchain Technology helps save money, time, and effort. The customer submits KYC information to the blockchain. Blockchain allows banks to access KYC data, and other institutions validate the KYC that the bank had previously conducted.
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