THE

NEW PARADIGM for

MUTUALIZING
KYC COMPLIANCE

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What is FIDES ?

#

Introducing FIDES, the secure platform for compliant external KYC data sharing across Organizations

By utilizing advanced distributed technologies (such as blockchain), together with proven cryptographic protocols, the FIDES platform enables Customers, Organizations and Regulators to securely share verified data and effectively collaborate on a comprehensive and compliant Single Version of Truth

How Does It Work?

# 1

Customer creates digital KYC file

The Customer creates their digital KYC file through an online portal and shares it with the requesting Organization

# 2

Organization reviews digital KYC file

Compliance officers at the reviewing Organization verify the digital KYC file using automated public data checks; once validated, the digital KYC file is placed on a shared blockchain-based platform

# 3

Verified digital KYC file becomes
Single Version of Truth on Blockchain

The digital KYC file is available for sharing and the Customer can consent to automatically propagate any validated updates to all accredited ecosystem Organizations.

# 4

Ongoing compliance is seamless

Organizations accessing an existing digital KYC file can track who validated the data and when it's due for renewal; compliance teams manage renewals through a comprehensive dashboard with full audit log

Advantages for Organizations

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Redundancy

Offers the benefits of a centralized system on a decentralized blockchain-based architecture by storing individually unreadable but collectively complete pieces of digital KYC files across registered Organizations, achieving advanced levels of data resilience

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Security

Avails a proprietary distributed system for encrypting and storing Customer data secured by proven cryptographic protocols adhering to the highest security standards

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Compliance

The proprietary back-end design has been legally assessed to be compliant with GDPR as well as the 4th AML Directive, providing the requisite assurance to Organizations

Advantages for Customers

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Control

Data is under Customer control at all times; Customers have the discretion to update, share or remove access to their digital KYC file with a single action

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Efficiency

By removing the information silos, Customers can administer a Single Version of Truth of their digital KYC data in real-time across all participating Organizations

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Experience

Customers can upload and securely share verified data seamlessly through the FIDES platform, eliminating email back-and-forth and accelerating time to approval

Advantages for Regulators

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COMPREHENSIVE AUDIT

Regulators can access encrypted, immutable audit logs to enhance their compliance checks without infringing on Customer privacy

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STANDARDIZATION

Implementation of standardized KYC forms and procedures enables effective supervision and efficient allocation of resources

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Systemic Risk Mitigation

Recognized common practices advance the overall level of KYC compliance and help mitigate systemic risk across the market

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FIDES

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future of KYC compliance?

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