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inVest
Challenge #2 – Investor Onboarding
Team HUSKY VERITAS
Leo Kuliyev (Citi group)
Jacob Khan, Vadim Keffler, Prerak
Sh...
The Problem
●Duplicated manual investor onboarding process
●Information exchange is not instant
○ e.g. security alerts
○ i...
Proposed Solution – The inVest
● Basic Information
● OFAC
● AML
● US Patriot Act
● Credit Rating
● Biometrics
● Blockchain...
Benefits to Stakeholders
INVESTORS
LENDERS
BROKERS FINRA
Improved Stability
Reduction in the
Systemic Risk
Reduced Time to...
Prototype Demo
● Bank A adds information about the customer into
the ledger
● Bank B pulls information following consent f...
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2019 MIT Fintech Buildathon | Organized by the MIT FinTech Club, with sponsorship from the Financial Industry Regulatory Authority (FINRA) and Deloitte

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2019 MIT Fintech Buildathon | Organized by the MIT FinTech Club, with sponsorship from the Financial Industry Regulatory Authority (FINRA) and Deloitte

Jacob Khan
Leo Kuliyev
Perak Shah
Chirag Shah
Tracie Gordon
Umit Sami
Chirag Shah

Published in: Economy & Finance
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2019 MIT Fintech Buildathon | Organized by the MIT FinTech Club, with sponsorship from the Financial Industry Regulatory Authority (FINRA) and Deloitte

  1. 1. inVest Challenge #2 – Investor Onboarding Team HUSKY VERITAS Leo Kuliyev (Citi group) Jacob Khan, Vadim Keffler, Prerak Shah, Chirag Shah, Tracie Gordon, Umit Sami, Chirag Shah,
  2. 2. The Problem ●Duplicated manual investor onboarding process ●Information exchange is not instant ○ e.g. security alerts ○ information updates ●Resources wasted on customer due diligence
  3. 3. Proposed Solution – The inVest ● Basic Information ● OFAC ● AML ● US Patriot Act ● Credit Rating ● Biometrics ● Blockchain based to enhance security and traceability – creating immutable data ● Push and pull of information with every update ● Self-Updated User Information to avoid penalties
  4. 4. Benefits to Stakeholders INVESTORS LENDERS BROKERS FINRA Improved Stability Reduction in the Systemic Risk Reduced Time to Onboard Feeling of Self Control (Investor in control of information sharing) inVest is Secure Streamlines process (Cuts Time) Banks share rating (Consensus) Real-time Suspicious Activity Alerting & Reports (Red flags)
  5. 5. Prototype Demo ● Bank A adds information about the customer into the ledger ● Bank B pulls information following consent from the customer ● Bank B raises a red-flag on the Customer and Bank A and B get an immediate notification

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