New Technology - New Capabilities
Using new technologies such as blockchain and distributed filing systems, we can truly empower the customer with their own data in a way which brings huge savings to the financial services industry, works alongside existing systems and the forthcoming PSD2 APIs, and which automates identification in financial services.
Customer-controlled data is the future of banking
ObjectTech is not a tech looking for a business problem - we tested our solution in collaboration with banks and the fCA in the room.
Self-sovereign identity combines new technologies so that for the first time, individuals can truly own and control their own identity data. This means that we can simultaneously allow banking which is 'more open than open banking', which gives all of the user experience benefits of PSD2 and aggregation, but which allows a direct relationship between bank and customer and respects the privacy of the customer to control their own data.