BBVA and Alfa Bank use blockchain startup BlockNotary’s solution for identification purposes

BBVA and Alfa Bank use blockchain startup BlockNotary’s solution for identification purposes

Monday, March 27, 2017 9:57 AM UTC

BBVA, a multinational Spanish banking group, and Alfa Bank, the largest private commercial bank in Russia, are using blockchain startup BlockNotary’s solution.

Denizen is a completely online division of BBVA. The bank uses BlockNotary Interview to onboard new customers, in its proof-of-life and identity verification processes. During the account application process, Denizen has to confirm the client’s identity and receive a copy of a picture ID. To begin the sign-up process, a client opens the bank’s mobile app and enters his or her personal information, records a video per specific instructions, reading a code and showing an ID.

Once the process is complete, the client’s video and document scans are uploaded to Denizen servers. The Denizen KYC (Know your customer) team then responds to the client’s account request.

“In this case, the BlockNotary Interview SDK is integrated into the iOS and Android versions of the bank app. Additionally, Interview SDK is integrated as an Ionic native plug-in for the web version of the bank app”, BlockNotary said.

In yet another instance, Alfa Bank’s Potok online service is piloting BlockNotary Interview to record video statements between borrowers and the bank. Potok enables individuals to make loans to businesses. The bank’s role is to provide KYC information to Potok and handle payments.

As part of the lending process, the bank is required to verify the identity of the borrower and receive a copy of the loan contract. The bank sends a link for an interview to a borrower. The borrower downloads the Potok mobile app, opens the link received in email or text message, validates their phone number and agrees to the terms of service. The borrower then…

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