KYC to be implemented by Pakistani banks using blockchain technology

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level.

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The blockchain-based system will allow them to exchange the personal information of customers through what they describe as decentralized.

Pakistan Banks’ Association has signed a contract for the implementation of a blockchain-based know-your-customer (KYC) platform which will be developed by Avanza Group.

The latter unites companies specializing in advanced banking applications, customer experience management solutions, blockchain, and artificial intelligence.


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