Bahrain's only financial network launches the world's first state-owned KYC utility with blockchain technology

On May 1st, Fenergo, a provider of digital customer lifecycle management (CLM) solutions, announced that it is partnering with Bahrain's only financial network, Benefit, to design and implement the world's first state-owned “know your customers” (KYC). )" utility. Through this platform, relevant financial institutions can quickly complete KYC and anti-money laundering (AML) compliance procedures, while implementing data authentication on the chain, and the concentration of customer data eliminates the need for repeated requests for information, so that other financial institutions in the Bahrain ecosystem can repeat use.