Tradle's pitch to Rabobank

Hello everyone. Tradle is building a KYC network on blockchain.

KYC work is hard on the bank.
And every bank repeats the work, which forces the customer to repeat it.

Is the customer happy? This is the customer we interviewed yesterday…

A simple solution is to concentrate KYC data in one place, so banks can share, which some KYC registries have done recently.

But is it compliant … with consumer protection laws?

A KYC registry may find itself with some hard choices, bouncing between the financial crime regulation and consumer protection laws. The liability for non-compliance is with the bank! And this situation will get worse with the new stricter financial crime and privacy laws coming into effect, which promise newer, bigger, better fines.

The solution is to put the customer in the middle. Tradle uses the blockchain to make the customer a KYC registry. Every KYC entry is authenticated, and protected individually by the keys held by the bank and the customer.

There is no intermediary or KYC registry in this picture. The transfer of KYC records, between banks and within the bank is initiated by the customer with a contextual, auditable, revocable Consent.

The consent is the key. Let me show you the journey to that consent.

Sarah approaches ABN Amro, verifies her driver’s license in an online chat. Later on she comes to Rabobank. In a similar chat, she can offer a previously verified license by ABN Amro…with ‘ONE TAP KYC’ to Rabobank.

Right now we are focusing on a customer journey, but later the whole ecosystem will benefit.

We are discussing core KYC issues with your people at the bank. And we are in agreement that the Trade solution may help alleviate some of the issues that we’ve discussed. When compliance officers say, I like it….this is a sign.

We’d like to propose a pilot in the following areas.

  • Retail KYC sharing between current accounts, insurance, leasing
  • Wholesale, KYC remediation
  • Options: minimal integration or full integration

These are the issues that we’ve discussed with your people. The benefits for Rabobank are:

  • KYC, a practical application of Blockchain, today.
  • Learn the blockchain, and its potential for the future of Rabobank.
  • KYC – opens doors for more apps. Why? Every application starts with Identity.

We are serious about it and will fly to Netherlands to work with your people on the ground to ensure success.