Oracle Teams with Everest to Deploy Blockchain for KYC and Digital Identitybr>
Blockchain firm Everest has partnered with Oracle Financial Services to enable customers to use Everest’s Application Programming Interface (API) and adopt identity verification and biometric identification services provided by Everest.
Founded in 2017, Everest designed a solution to bring institutions or organizations lacking a transparent, decentralized, and digital ledger system into the 21st century digital economy. Through the use of digital identities, electronic wallets, document management, and biometrics, Everest allows users to digitally verify their identity for public services and claim their social and economic rights.
Oracle Financial Services provides retail banking solutions, corporate banking, payments, asset management, life insurance, annuities, and healthcare payers. The company’s data and analytical platforms help financial institutions drive customer insight, integrate risk and finance, fight financial crime, and comply with regulations.
The Everest partnership provides Oracle the ability to bring identification verification and validation services to major financial institutions across 180+ countries. The Oracle Financial Crime and Compliance Management (FCCM) product portfolio provides a wide gamut of AML capabilities across the value chain along with comprehensive data management and advanced analytics capabilities. Integrating with Everest’s identity verification and biometric identification will enhance the Oracle FCCM KYC services and reduces silos and redundancies within the KYC onboarding process.
“The integration of Oracle FCCM with our Identity Verification and eKYC arms banks with the infrastructure to leverage the latest technologies and propel banking into the 21st century,” says Bob Reid, CEO, and co-founder of Everest.
“Integrating Everest’s identity verification and eKYC services with our FCCM platform augments our expanding partner ecosystem and enables better KYC effectiveness for our global customer base,” says John Edison, vice president and head of Financial Crime and Compliance Management Products, Oracle Financial Services. “We are enabling our customers and financial institutions with the capabilities needed to remotely onboard customers across multiple jurisdictions, especially during the ongoing pandemic.”