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Financial institutions face growing compliance challenges related to identity, with know-your-customer costs that can reach hundreds of millions of dollars per year for large banks. Strict data privacy rules such as the European General Data Protection Regulation also limit the ability to access validated customer identity attributes from other trusted parties. Cambridge Blockchains distributed architecture resolves the competing challenges of transparency and privacy, resulting in faster customer onboarding, lower costs, and enhanced compliance through a single, trusted and consistent view of customer reference data.
Cambridge blockchain offers blockchain-powered enterprise data management and digital identity solutions. It enables financial institutions, corporate clients & identity partners to adhere to regulatory compliance by improving their KYC checks.
The platform allows financial institutions to meet data privacy rules, eliminate redundant identity compliance checks, and improve the customer experience.
William P. Rice
Matthew Commons (CEO); Alex Oberhauser (CTO); Alok Bhargava (COO)
The company plans to utilize its fund to extend its blockchain-based Enterprise Data Management software to new applications. (May 2018)
Less than $1M
SERIES A · $3.5 M · Apr 2019
Debt Financing: $2M (Jan. 2017) and Convertible Note: $2M raised in March 2017.
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