Due diligence: from KYC to WAKOC

Author: | Published: 28 Aug 2018

Blockchain could create new opportunities for verified identity solutions

1 Minute read
The next five to 10 years are expected to see transformational changes in cross-border regulatory reporting and compliance, driven by compelling advances in data management technologies. One of the most promising ways that regtech will help is by eliminating overlaps and commonalities in the data and client verification requirements of different regulations. Many regulations cover common ground; as such, smarter use of shared, verified data - such as that promised by blockchain and distributed ledger technologies - will significantly reduce or even eliminate repetitive reporting requirements.

The next five to 10 years are expected to see transformational changes in cross-border regulatory reporting and compliance. At a time when the regulatory burden grows ever larger, the ability to manage and simplify the compliance mandate will be driven largely by compelling advances in data management and digital technologies.

Initially, this (r)evolution is...