From: RegTech Analyst
In a public call to RegTech businesses, the Central Bank of Sri Lanka has urged companies to help it develop a know your customer (KYC) platform powered by blockchain.
It asked RegTech companies to help develop a proof of concept “Shared KYC Facility” in an announcement on its website.
The announcement motivated the initiative by saying that the growing “demand for digitalized financial services has created an opportunity for Sri Lanka to evaluate the possibility of adopting blockchain technology to further advance Sri Lanka’s financial sector.”
To apply, the tech companies must have at least two years of experience and a proven track record of developing and launching mobile applications.
KYC solutions are increasingly becoming a huge focus of financial firms around the world, which is evident by the fact 34.5% of all RegTech investments between 2014 and 2018 went into KYC enterprises, according to RegTech Analyst’s data.
