Biometric ID, a huge step for Banking – Domingo Alvarez
KABN — Financial platform with biometric enabled blockchain identity.
Pegasus Card sponsored by VISA. Works equally with Fiat or Cryptocurrency.
The world is constantly changing, advances in technology are always an important part of people’s lives, adoption in the last fifteen years has been so accelerated that it is impossible to ensure on what date the people decided to stop going to the bank to carry out all your transactions by digital means, almost everyone does it and nobody stops to think about it. Today, everybody uses all kinds of intelligent equipment to speed up their tasks, the phones went from being devices that only served to communicate with other people through calls, to be intelligent companions in everyday life.
The traditional banking system is suffering to keep the pace with all the technological advances of today. Traditional way to document management is too slow compared of how fast the processes became thanks to technology. Collecting and analysis of data in written documents is a bottleneck to every digitalized process, it prevents information from flowing properly, slowing a process that it shouts asking for speed.
In the past, it was impossible to solve the problem of slowness in the process of identification and management of bank customer data, it was asserted that the study of documentation in printed format with traditional methods was absolutely necessary, and that there was no better method around. Today, blockchain technology offers a far superior proposal to traditional data management, granting security, speed and transparency in the data, at insignificant costs, saving money and time in comparison to current system.
Neo Bank platform.
This type of banking offers mobile tools and services to the costumers, giving them “in theory” better user experience, while significantly reducing operational costs because this system works with less human resources than traditional banking.
The numbers of users of electronic banking today is huge, almost 92% of Millennials use it daily, but as a negative note, 75% of them find that the current banking system has an operation that is below their expectations. This discomfort opens a business opportunity directly pointing to the way those services fit to consumer’s needs. Most millennials are willing to change their current financial applications for new ones, in search of a better user experience.
KYC verification manages a large amount of sensitive and private customer information that is not relevant to banking, information that they usually share with those external companies who verify the data for them.
The regulations against money laundering (AML) are even more intense in relation to the verification of user data, they need a lot of information, including the political and international ones.
Information management is a very tedious process, it requires a lot of effort and time, in addition to huge amounts of human resources, making it an expensive task. New companies struggle to hire information management firms due to the high fees charged for their services.
This issue is becoming a huge snowball that is rolling down a hill, the pressure exerted by the constant regulations of the Securities and Exchange Commission (SEC) forces all actors to fit into the regulations, even if this means incurring in big money losses.
Why KABN?
KABN is a financial platform that offer biometric identification in the blockchain, and the possibility of making purchases with Pegasus Debit Card, which is sponsored by VISA.
It’s a payment system that significantly accelerates customer ID and at the same time protects the privacy of users in relation to sensitive information.
The project of KABN financial platform, was born with the intention of offering a superior service that adapts to the current and future requirements regarding KYC (know your client), AML (anti money laundering) without negatively affecting the users, who will get a pleasant experience using the platform day by day.
Today’s financial platforms have proven unable to offer superior customer service. KABN aims directly to improve the user experience respect to mobile banking, offering a superior quality service, with a friendly interface while complying with the regulations established by the competent agencies.
KABN is another example of the revolutionary capacity of blockchain technology, proving that it is capable of improve the experience both for the business sector and for users at the same time.
ABOUT KABN NETWORK
Website Whitepaper
About the KABN Team
KABN was founded by former banking, payments, and loyalty executives. Founders & Officers.
· Ben Kessler — CEO
· Michael Konikoff — Chief Revenue Officer
· Jason Imola — Interim Chief Compliance Officer
KABN is here to change banking industry for good and forever.
I am Domingo Alvarez, thanks for reading.
Bounty0x — @ingonetcrypto
Published at Sun, 28 Jul 2019 19:31:27 +0000
Bitcoin Pic Of The Moment
Liberty Teller Machine installed in Boston’s South Station on 2/19/2014. Photo taken 2/20/2014.
By drywellguy on 2014-02-20 17:49:59