Block chain Implementation in Financial Sector

Principal Investigator’s Organization (PIO):

OVEX Technologies, Lahore

Principal Investigator (PI):

Faisal Khan

Summary

The core objective is to develop a working product of customer database and KYC compliance for banks on block chain platform. The project is expected to reduce the KYC and compliance cost by at least 15-20%. It also aims to develop a working product for international remittances for banks using block chain technology and expected to reduce the remittance time from 4-5 days to 1-2 days to reduce costs.
The project will provide state of the art block chain based technology to financial institutions to bring their legacy systems at par with the latest technology and make them competitive in the international market.

Theme               Block chain 

Type                   Industry

Website           http://ovextech.com/