Deloitte partners with KILT Protocol to enhance identity protocols on the Polkadot ecosystem
2/ KILT Protocol’s reusable digital identity credentials will support Deloitte’s Know Your Customer / Know Your Business processes (KYC/KYB) and protect financial institutions against fraud, corruption, money laundering, and terrorist financing.
How KILT’s Tech Works
KILT’s tech eliminates inefficiencies around KYC/KYB processes that can compromise consumer data privacy while addressing regulatory compliance for banking and DeFi, age verification for e-commerce, and private logins and fundraising.
Reusable credentials are stored in customer wallets and are controlled by them, with the customer alone choosing who they share their details with. Deloitte will offer a browser extension to help customers manage their credentials.
Deloitte Services’ head, Micha Bitterli, stated that “By offering reusable digital credentials anchored on the KILT blockchain, Deloitte is transforming verification processes for individuals and entities
In the words of Ingo Ruebe, founder of KILT Protocol, “With identity solutions #BuiltOnKilt customers can use verifiable digital credentials across services, retaining control over personal information. As a Polkadot parachain, KILT offers the scale and security needed by enterprise partners.”
7/ For more information on the partnership between KILT Protocol and Deloitte