{"id":22584,"date":"2017-04-05T21:49:26","date_gmt":"2017-04-05T18:49:26","guid":{"rendered":"https:\/\/www.altoros.com\/blog\/?p=22584"},"modified":"2020-02-20T00:39:08","modified_gmt":"2020-02-19T21:39:08","slug":"blockchain-can-help-banks-to-better-manage-the-identity-of-clients","status":"publish","type":"post","link":"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/","title":{"rendered":"Blockchain Can Help Banks to Better Manage the Identity of Customers"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#Understanding_customer_data_in_banking\" >Understanding customer data in banking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#KYC_presents_complex_challenges\" >KYC presents complex challenges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#How_blockchain_can_help\" >How blockchain can help<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#APIs_real-time_monitoring_and_compliance\" >APIs, real-time monitoring, and compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#Looking_forward_to_version_10\" >Looking forward to version 1.0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#Related_slides\" >Related slides<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#Further_reading\" >Further reading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#About_the_expert\" >About the expert<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Understanding_customer_data_in_banking\"><\/span>Understanding customer data in banking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div id=\"attachment_22599\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/Vitalii-Demianets-norbloc.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-22599\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/Vitalii-Demianets-norbloc-150x150.png\" alt=\"Vitalii Demianets\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-22599\" \/><\/a><p id=\"caption-attachment-22599\" class=\"wp-caption-text\"><small>Vitalii Demianets<\/small><\/p><\/div>\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Know_your_customer\" target=\"_blank\" rel=\"noopener noreferrer\">Know your customer<\/a> (KYC) is a key process in the banking industry, revolving around identifying and verifying the identity of clients. It&#8217;s an important issue, particularly in the European Union, where \u201c<a href=\"https:\/\/en.wikipedia.org\/wiki\/Right_to_be_forgotten\" target=\"_blank\" rel=\"noopener noreferrer\">the right to be forgotten<\/a>\u201d is a foundation of individual rights.<\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/vitalii-demianets-20843359\/\" target=\"_blank\" rel=\"noopener noreferrer\">Vitalii Demianets<\/a>, Co-founder and Lead Developer at norbloc, led a <a href=\"https:\/\/www.altoros.com\/events\/kyc-the-ideal-showcase-for-the-hyperledger-blockchain-technology\/\">recent webinar<\/a> focused on how blockchain solutions can optimize the KYC process.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"KYC_presents_complex_challenges\"><\/span>KYC presents complex challenges<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Vitalii described three key issues for banks in building their KYC programs:<\/p>\n<ol>\n<li style=\"margin-bottom: 6px;\"><strong>Duplication of efforts.<\/strong> Today, people need to go through the KYC process for each one of their banks, as well as with any particular bank&#8217;s subsidiaries in most cases. Conversely, banks need to identify and verify each one of their customers, even if they&#8217;ve already been identified and verified by another financial institution. This is clearly a time-consuming, wasteful process.<\/li>\n<li style=\"margin-bottom: 6px;\"><strong>Limited digitization.<\/strong> Many banks, \u201ceven in very tech-savvy jurisdictions,\u201d Vitalii said, \u201cstill use physical forms with the implied administrative and customer burdens.\u201d This is another legacy of a pen-and-paper era.<\/li>\n<li><strong>Spotty audit trail.<\/strong> \u201cCompliance departments and regulators struggle to identify an impartial and immutable audit trail,\u201d Vitalii said, further adding to delays and expense in a business, where today&#8217;s customers expect lightning-fast service.<\/li>\n<\/ol>\n<p>In Sweden, where norbloc operates, big banks may spend US$60 million annually on KYC and related <a href=\"https:\/\/en.wikipedia.org\/wiki\/Money_laundering#Combating\" target=\"_blank\" rel=\"noopener noreferrer\">anti-money laundering<\/a> (AML) each year. Manual labor costs eat up fully 80% of these costs, and paper-based, labor-intensive-driven penalties are approaching 45% of the total budget, Vitalii explained.<\/p>\n<p><center><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/KYC-Cmpliance.png\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/KYC-Cmpliance.png\" alt=\"KYC Cmpliance\" width=\"640\" class=\"aligncenter size-full wp-image-22590\" \/><\/a><small>Source: Goldman Sachs, Accenture, Celent, Thomson Reuters<\/small><\/center><\/p>\n<p>So, blockchain can reduce these costs dramatically, while <a href=\"https:\/\/www.altoros.com\/blog\/blockchain-to-reduce-intermediaries-in-many-industries-outside-finance\/\" >eliminating<\/a> the need for third-party intermediaries, and speed things up immensely along the way.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_blockchain_can_help\"><\/span>How blockchain can help<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/KYC-Solution.png\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/KYC-Solution.png\" alt=\"KYC Solution\" width=\"320\" class=\"alignright size-full wp-image-22589\" \/><\/a><\/p>\n<p><a href=\"https:\/\/norbloc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">norbloc<\/a> has worked to develop an \u201cintuitive, multi-platform interface with electronic ID login and APIs to public sources to create a fully digital [customer] onboarding process,\u201d he said. Furthermore, an \u201cencrypted database secured by blockchain technology for 100% availability and irrefutable records of transactions enables real-time reviewing by compliance departments,\u201d he noted.<\/p>\n<p>The blockchain technology \u201callows for the secure transfer of a KYC verification stamp of one entity to another, as it is unparalleled in distributed version control of ledger contents,\u201d Vitalii explained to webinar attendees. \u201cIt offers a highly detailed and immutable audit trail on all actions on KYC files.\u201d<\/p>\n<p>Vitalii noted that his company&#8217;s efforts are not focused solely on large, traditional institutions, but also on millions of smaller fintech companies looking to procure a compliant record. In this respect, KYC can change from an expense to a revenue source. According to Vitalii, fintech companies would be very happy to pay a small fee to obtain a compliant record.<\/p>\n<blockquote><p><em>&#8220;The banks would never sell the data itself, as a customer explicitly gives actual data to an institution, but would sell the digital signatures and therefore stamp of approval. Fintechs will know that (any consequent) customer data is valid and correct.\u201d \u2014Vitalii Demianets, norbloc<\/em><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"APIs_real-time_monitoring_and_compliance\"><\/span>APIs, real-time monitoring, and compliance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Some key aspects of creating a successful solution for these banks (as well as those in other countries) include:<\/p>\n<ul>\n<li style=\"margin-bottom: 6px;\">The use of APIs to pre-populate data fields from public data sources, such as corporate registries.<\/li>\n<li style=\"margin-bottom: 6px;\">Collaboration among and within institutions to collect data.<\/li>\n<li>The customer&#8217;s ability to change access rights and have full control over permissions to each field of the data package.<\/li>\n<\/ul>\n<p>When things reach the compliance stage, \u201can institution&#8217;s compliance department and regulators can have real-time monitoring and reports through a separate interface,\u201d according to Vitalii.<\/p>\n<p><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-based-solution-norbloc.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-based-solution-norbloc.png\" alt=\"blockchain-based-solution-norbloc\" width=\"640\" height=\"360\" class=\"aligncenter size-full wp-image-22618\" \/><\/a><\/p>\n<blockquote><p><em>\u201c(Blockchain) enables a full data trail through detailed timestamping and version control, and an audit file on blockchain records all metadata for potential review.\u201d \u2014Vitalii Demianets, norbloc<\/em><\/p><\/blockquote>\n<p>Vitalii noted that a customer interface needs to accommodate desktop and mobile devices, and norbloc is creating a key management system that manages private keys on customers&#8217; behalf. He said banks must have a permissiond blockchain like Hyperledger Fabric (rather than a public, permissionless platform such as Ethereum). Though Hyperledger&#8217;s community support is not as extensive as those of the permissionless platforms, it is strong enough, he said.<\/p>\n<p>\u201cBlockchain is only a means to an end,\u201d according Vitalii Demianets. However, it can serve as an important means, as he outlined a full-bodied solution for financial institutions developed by his Swedish-based company.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Looking_forward_to_version_10\"><\/span>Looking forward to version 1.0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The norbloc&#8217;s team is looking forward to the product&#8217;s version 1.0, which will allow the integration of transient data that complies with the right to be forgotten. Vitalii said by consulting with more than 50 bankers and regulators, as well as a legal firm, he believes blockchain can successfully address the KYC market in Sweden or elsewhere.<\/p>\n<p>norbloc is using Hyperledger Fabric v0.6 as it moves to \u201calleviate most of the key challenges of the existing KYC process,\u201d he said. The company is testing its solution with six financial institutions in Sweden, and plans to migrate to <a href=\"https:\/\/www.altoros.com\/blog\/hyperledger-approaches-version-1-0-with-better-scalability-and-security\/\" target=\"_blank\" rel=\"noopener noreferrer\">version 1.0<\/a> when it becomes available.<\/p>\n<p>Yet, blockchain understanding has a long way to go, &#8220;especially within the business and regulation segments of financial institutions,\u201d according to Vitalii. \u201cThere is still ground to be covered in educating people.\u201d<\/p>\n<p><center><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/the-know-your-customer-processes-statistics-for-banks.png\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/the-know-your-customer-processes-statistics-for-banks-1024x689.png\" alt=\"the-know-your-customer-processes-statistics-for-banks\" width=\"640\" class=\"aligncenter size-large wp-image-22622\" \/><\/a><small>Potential savings for banks using a blockchain solution for KYC<\/small><\/center><\/p>\n<p>\u201cNevertheless,\u201d he said, \u201cthe business side of financial institutions want a problem solved efficiently and effectively, and in our opinion blockchain is the best database choice for this application.\u201d<\/p>\n<p>Want details? Watch the <a href=\"https:\/\/www.altoros.com\/events\/kyc-the-ideal-showcase-for-the-hyperledger-blockchain-technology\/\" target=\"_blank\" rel=\"noopener noreferrer\">webinar recording<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Related_slides\"><\/span>Related slides<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><center><iframe loading=\"lazy\" src=\"\/\/www.slideshare.net\/slideshow\/embed_code\/key\/MYcIl4y3Xi2kc\" width=\"595\" height=\"485\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" style=\"border:1px solid #CCC; border-width:1px; margin-bottom:5px; max-width: 100%;\" allowfullscreen> <\/iframe><\/center><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Further_reading\"><\/span>Further reading<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/blockchain-for-trade-finance-real-time-visibility-and-reduced-fraud\/\">Blockchain for Trade Finance: Real-Time Visibility and Reduced Fraud<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/managing-risk-and-building-trust-for-blockchain-in-finance\/\">Managing Risk and Building Trust for Blockchain in Finance<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/hyperledgerblockchain-requirements-adoption-bottlenecks-finance-real-estate\/\">Hyperledger Requirements and Adoption Bottlenecks in Finance and Real Estate<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"About_the_expert\"><\/span>About the expert<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div>\n<div style=\"float: right;\"><a href=\"https:\/\/www.linkedin.com\/in\/vitalii-demianets-20843359\/\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/Vitalii-Demianets-norbloc-bio.png\" alt=\"Vitalii Demianets, norbloc bio\" width=\"150\" height=\"150\" class=\"aligncenter size-full wp-image-22601\" \/><\/a><\/div>\n<div style=\"width: 600px;\"><small><a href=\"https:\/\/www.linkedin.com\/in\/vitalii-demianets-20843359\/\" target=\"_blank\" rel=\"noopener noreferrer\">Vitalii Demianets<\/a> is Co-founder and Lead Developer at norbloc. He is a full-stack software architect, with a specialization in blockchain protocols and embedded software. Previously, Vitalii was the lead developer of KnCMiner, and prior to that, spent 15 years as the Head embedded software engineer at telecom equipment manufacturer Factor-SPE in Ukraine. He holds a MS in Applied Mathematics from the Moscow Institute of Physics and Technology. You can check Vitalii&#8217;s <a href=\"https:\/\/github.com\/dvitas\" target=\"_blank\" rel=\"noopener noreferrer\">GitHub profile<\/a>.<\/small><\/div>\n<\/div>\n<hr\/>\n<p><center><small>The post is written by Roger Strukhoff; edited by Carlo Gutierrez, Sophia Turol, and <a href=\"https:\/\/www.altoros.com\/blog\/author\/alex\/\">Alex Khizhniak<\/a>.<\/small><\/center><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Understanding customer data in banking<\/p>\n<p id=\"caption-attachment-22599\" class=\"wp-caption-text\">Vitalii Demianets<\/p>\n<p>Know your customer (KYC) is a key process in the banking industry, revolving around identifying and verifying the identity of clients. It&#8217;s an important issue, particularly in the European Union, where \u201cthe right to be forgotten\u201d is a foundation of individual rights.<\/p>\n<p>Vitalii Demianets, [&#8230;]<\/p>\n","protected":false},"author":9,"featured_media":22627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[7],"tags":[938,672,753],"class_list":["post-22584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-opinion","tag-banking","tag-blockchain","tag-hyperledger"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blockchain Can Help Banks to Better Manage the Identity of Customers | Altoros<\/title>\n<meta name=\"description\" content=\"With projects like Hyperledger, banks may improve audit trail in comliance departments, digitalize onboarding, deduplicate efforts, reduce paperwork, etc.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain Can Help Banks to Better Manage the Identity of Customers | Altoros\" \/>\n<meta property=\"og:description\" content=\"Understanding customer data in banking Vitalii Demianets Know your customer (KYC) is a key process in the banking industry, revolving around identifying and verifying the identity of clients. It&#8217;s an important issue, particularly in the European Union, where \u201cthe right to be forgotten\u201d is a foundation of individual rights. Vitalii Demianets, [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/\" \/>\n<meta property=\"og:site_name\" content=\"Altoros\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-05T18:49:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-19T21:39:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-to-improve-know-your-customer-processes-with-norbloc-solution-v11.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Roger Strukhoff\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Roger Strukhoff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/\",\"url\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/\",\"name\":\"Blockchain Can Help Banks to Better Manage the Identity of Customers | Altoros\",\"isPartOf\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-to-improve-know-your-customer-processes-with-norbloc-solution-v11.gif\",\"datePublished\":\"2017-04-05T18:49:26+00:00\",\"dateModified\":\"2020-02-19T21:39:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/#\/schema\/person\/56ea20d6f280f7a442e89e5884b06fd8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#primaryimage\",\"url\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-to-improve-know-your-customer-processes-with-norbloc-solution-v11.gif\",\"contentUrl\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/04\/blockchain-to-improve-know-your-customer-processes-with-norbloc-solution-v11.gif\",\"width\":640,\"height\":360},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.altoros.com\/blog\/blockchain-can-help-banks-to-better-manage-the-identity-of-clients\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.altoros.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Blockchain Can Help Banks to Better Manage the Identity of Customers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.altoros.com\/blog\/#website\",\"url\":\"https:\/\/www.altoros.com\/blog\/\",\"name\":\"Altoros\",\"description\":\"Insight\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.altoros.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.altoros.com\/blog\/#\/schema\/person\/56ea20d6f280f7a442e89e5884b06fd8\",\"name\":\"Roger Strukhoff\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.altoros.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/03\/roger_strukhoff_user_icon-150x150.jpg\",\"contentUrl\":\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2016\/03\/roger_strukhoff_user_icon-150x150.jpg\",\"caption\":\"Roger Strukhoff\"},\"description\":\"Roger Strukhoff is Director of Research at Altoros. 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