stdch-final-final.mp4
KEY CHALLENGES:
- Develop an intuitive Video KYC solution that captures live photographs and basic customer details in a conversational manner, aiming for seamless user experience and inclusivity across demographics, languages, and education levels.
- Ensure compliance with regulatory requirements and data privacy standards while maintaining the security of customer information throughout the KYC process, emphasizing scalability, efficiency, and accessibility for Standard Chartered's global customer base.
PROPOSED SOLUTION:
- Developing a robust KYC platform involves a multi-layered approach. Centralized database architecture with encryption safeguards user data. Smart Contracts on Ethereum ensure automatic KYC authentication. Biometric verification enhances accuracy. Real-time validation checks mitigate fraud. This ensures secure and efficient customer onboarding.
- The platform prioritizes inclusivity with multi-language support and ensures FINMA compliance through continuous monitoring. Decentralized storage enhances security, while machine learning detects anomalies. Integration with external systems via APIs ensures scalability, leveraging blockchain for data security and integrity.
BUSINESS IMPACT:
Upon deployment, the integrated KYC platform with anomaly detection is anticipated to revolutionize banking operations, yielding significant business impact. Over the next two years, it is projected to generate $200 million in revenue through heightened accuracy in customer verification, substantial reductions in manual effort, and bolstered trust among stakeholders. This transformative solution promises streamlined processes, improved efficiency, and enhanced compliance, positioning the institution as a leader in customer onboarding while unlocking substantial revenue potential.
Team Name: FINTECH FINCHERS
Members:
- ANKIT SINGH
- ANURADHA KRISHNAN
- ARNAV SHARMA
- CH MALVIKA REDDY
- LAIKHURAM KOROUHANBA KHUMAN
- PRATHAM AGARWALLA