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Blockchain: A Game changer for KYC

Blockchain: A Game changer for kYC

Dates:  5 July 2018 (8.30am - 1.00pm) 
Venue: Securities Commission Malaysia
Accreditation: SIDC CPE-approved: 5 CPE points


 New KYC-as-a-service solution using blockchain technology that will facilitate the customer onboarding process for financial institutions
 
With this proof of concept, this programme will demonstrate the benefits of using blockchain to reduce the costs of one of the most important burdens of our institutional clients: KYC and customer onboarding.
 
The integration of distributed ledger technology into compliance systems and processes could save financial institutions in compliance costs. Using blockchain technology, data security could be improved, manual processes could be digitized, customer onboarding documents could be verified for authenticity, the speed and accuracy of daily regulatory reporting to regulators could be increased, and digital identities could be created for companies.
 
Blockchain is about shared control and not just shared data. Blockchain also offers anonymity and security despite the shared control.

  • Programme Delivery

    Programme Objective

    .At the end of the programme, participants will be able to assess the application of blockchain technology in client onboarding also known as Know-Your-Client (KYC) process.

    Learning Outcomes

    By the end of this programme, participants will be able to:
    • Describe the definition of e-KYC
    • Compare the processes involved in traditional and e-KYC
    • Explain how blockchain works in e-KYC processes
    • Describe the AMLA policies and procedures used in traditional system vs. blockchain
    • Explain how blockchain potential benefits could impact the business processes
    • Evaluate the efficiency, cost savings and potential returns in blockchain application
    • Discuss the issues  and challenges in integrating e-KYC into blockchain technology

    Methodology

    Interactive presentations, Discussions and Question-and-Answer (Q&A) sessions

    Target Audience

    Individuals
    IT officers, risk management officers, compliance officers, legal officers.

    Institutions
    Asset management companies, advisory firms, legal firms, accounting firms, fund management companies, stockbroking firms, investment banks, insurance companies, telcos, airlines, alternative financing platforms (ECF, P2P, VCs)

    Competencies

    Functional (Process Skills) - Know Your Client
    Functional (Technical Skills) - Digital Technology Application
  • Programme Outline

    8.30 am Registration
    9.00 am
     
     
    Aligning the Technology with the needs of the financial markets
    • What does e-KYC mean
    • How different is the traditional KYC requirements  to e-KYC
    • The challenges faced in using traditional KYC in relation to e-KYC
    • How does Blockchain works
    • Things you can do with Blockchain
    • Understanding the implications of using Blockchain in e-KYC
    • Potentials of Blockchain
    10.30 am Coffee Break
    10.45 am
     
     
    Blockchain Systems for Customers Identification
    • What is the differences between blockchain and database
    • Regulator’s expectation in the application of e-KYC
    • FATCA in e-KYC
    • Blockchain-based system of management for unlisted over-the-counter (OTC) and marketplaces (pilot project)
    • Advantages of using Identity Blockchain for eKYC
    • AML policies for entities using Blockchain and the traditional financial system
    11.45 am
     
     
    Blockchain Impact: Costs, Savings, Efficiency, Accuracy
    • More efficient, secure and cost-effective
    • Operating model to unlock sustainable gains, savings
    • Influence on C-Suite
    • Use of smart contracts
    • Long-term competitive advantage
    • Fraud & Identity theft
    • Abuse of digital identity
    • Issues and challenges in integrating e-KYC with blockchain
    1.00 pm End of Programme
  • Programme Fees

    Normal Price
    RM 550