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Fintech Belgium - MeetUp on The ideal RegTech partner of banks and FinTechs - Olivier Rocloux - Finoryx - 07-02-19

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Fintech Belgium - MeetUp on The ideal RegTech partner of banks and FinTechs - Olivier Rocloux - Finoryx - 07-02-19

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Fintech Belgium - MeetUp on The ideal RegTech partner of banks and FinTechs - Olivier Rocloux - Finoryx - 07-02-19

  1. 1. © finoryx 2018 Regulatory Compliance Made Easy for Startups Olivier Roucloux February 2019
  2. 2. About Finoryx Created in early 2015 Unusual and unique combination of experienced consultants in Finance and in in IT (20+ years) The first to building true Blockchain business case Imagined capital market model based on blockchain Proven track record of Blockchain solutions delivery Involved in many regulatory projects (EMIR, Mifid, CRS) Adapting the KYC-Chain solution to meet European regulations - Easy onboarding of corporates - Validation against global DB - Meta data on Blockchain 20+ clients (Exchanges, ICO, STO, …) Integrated by
  3. 3. Thanks to EBF
  4. 4. Don’t Forget Self-Certifications Three very interesting examples of self-certifications regulations:  FATCA, from the IRS, impose to fill a lot of forms if you are American, or having interests in the US, …  CRS, kind of simplified worldwide FATCA. Impose you to provide your Tax Identification Number to your financial institutions Both FATCA and CRS imposes to Financial institutions to make a due diligence of what the client is « claiming »  MIFID, impose a financial institutions willing to sell you investment products to check your investment profile (aggressive, conservative, etc) Financial institutions can only propose you products that fits your profile ! Such self-certification is part of your digital identity
  5. 5. Proof of Concept, Made in Luxembourg
  6. 6. Single Institution Solution (POC) Individuals perform self-certification Self-certification & Onboarding Out of the box solution Self-certification Approved documents corporate perform self-certification Financial institution Information system API-based communication Operations monitor onboarding
  7. 7. Self-Sovereign Identity Solution (phase 2) Individuals perform self-certification Self-certification & Onboarding Out of the box solution Self-certification Approved documents Operations monitor onboarding corporate perform self-certification Financial institution Information system API-based communication Blockchain Self-certification Documents Stored in your wallet Meta-data on Blockchain
  8. 8. Community Solution (phase 3) Individuals grant access To their existing self-certification Self-certification & Onboarding Out of the box solution Self-certification Approved documents Operations monitor onboarding Corporate grant access To their existing self-certification Financial institution Information system API-based communication Blockchain System validate authenticity of documents using meta data on blockchain
  9. 9. Conclusion Our answerKey issues You want efficiency to gain time You want to make sure you really check who the client is You want a solution that can be reused in your day to day business You need a solution that works And is available now! Easy onboarding of individuals & firms Dedicated customer portal Smooth compliance workflow Automated Sanctions Screening Politically-exposed & terrorism checks Participant risk-scoring Self-certification forms (CRS, Fatca, Mifid) Biometric validations Meta data on Blockchain Re-usable data using self-identity wallet Core product with 20+ clients Three Belgian implementation Fast Deployment Question ? olivier@finoryx.com
  10. 10. Thank you

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