Norbloc

norbloc was founded in 2016 in Stockholm, Sweden by a team bringing together wealth of financial institutions and consulting experience with blockchain and banking software expertise
norbloc developed its flagship product, the blockchain-based KYC platform Fides, to reduce the burdensome, costly requirements surrounding the status quo KYC environment. 
The benefits of utilizing Fides include:
•    Reduced duplication of effort for everyone
o    Customers are relieved of the burden of submitting separate KYC applications to each individual FI; FIs can build on validation efforts of trusted peers
•    Enhanced customer experience and control of data 
o    Customers can seamlessly create a single KYC file to share with multiple parties during onboarding. Additionally, they can update information and securely share data with one single action across approved KYC validating counterparties  
•    Streamlined processes for FIs
o    FIs are provided a consolidated view of their customers with automated workflows to effortlessly ensure data is accurate
•    Superior compliance oversight
o    Detailed control and traceability through auditable trails of actions across all parties (stored on the blockchain in metadata files specifically designed for that purpose)

Fides achieves improved productivity and compliance through a substantial redesign and enhancement of the customer and compliance officer workflows
•    Digitized onboarding and renewal process
o    Customers benefit from a fully-digital onboarding process, featuring an intuitive interface with electronic ID login and APIs to public sources (e.g. corporate registries) 
•    Permissioned blockchain-based platform
o    Fides-registered FIs are securely connected to the blockchain to read, access or share this encrypted KYC data, subject to customer consent
•    Legally compliant design
o    Fides’ proprietary back-end design has been legally assessed to be compliant with GDPR as well as the 4th AML Directive 

Altogether, the Fides platform creates an ecosystem whereby all stakeholders benefit:
•    Customers are provided full control of all their encrypted KYC data on a secure platform, removing previous information silos and the labour of redundant submissions
•    FIs reduce costly duplication of effort and improve compliance by gathering more accurate data while also providing a better customer experience
•    Regulators can view a clear audit trail for their compliance checks without infringing upon customer data privacy laws  
 

Contacts : 

Mr. Nikos Patsiogiannis, COO, nikos@norbloc.com

Mr. Leonidas Stavropoulos, Head of Delivery (Europe), leonidas@norbloc.com

Mr. Astyanax Kanakakis, CEO, astyanax@norbloc.com

info@norbloc.com

www.norbloc.com