Broadening the Market: Self-sovereign Solutions for Mid-tier Fintechs
Self-Sovereign-Identity (SSI) is a new technology and concept for many Mid-tier fintech companies that holds out great possibilities for innovation and, with that, expansion of both customer bases as well as services. Furthermore, it can help drive compliance in ways that most people in Fintech have not been aware of. Mathieu, Founder, and CEO of Northern Block has spent the last 10+ years working with Fintech companies, including Capital One and TMX, developing robust, customer-centric solutions that have helped these organizations increase not only the top line but improve costs netting significant ROI on projects. From this work with clients, Northern Block has been developing a set of products that address both sides of the coin: The user experience through a standards-based Wallet; and an organizational-focused platform to help Fintech companies continuously learn from their customers and prospects with the goal of building true, trusted and private relationships. In this presentation, Mathieu Glaude will provide examples of how leading fintech companies are innovating around the concepts of Self-sovereign-Identity - the user controls their portable data; Identity proofing through Verifiable Credentials; Privacy by Design and; Security by Design.
The examples will be focused on four main areas:
1. Customer onboarding including KYC; helping organizations convert and close more business while addressing a more digital clientele.
2. Reducing friction in customer service, both online and by phone;
3. Increasing up-selling opportunities via any platform and;
4. Off-boarding with a focus on ensuring data privacy laws are fulfilled.
Finally, Mathieu will talk about how fintech companies are engaging with SSI today with the dual goals of broadening their markets while reducing costs.
Coming out of this presentation, you should understand the benefits of SSI for Fintech with examples that you can apply to your business along with an understanding of how to start your implementation path.