Compliance and KYC specialist Accuity has integrated its financial crime screening suite with R3's distributed ledger technology platform, Corda.
The move enables financial crime screening of customers and transactions on Corda, helping firms comply with regulations such as the EU Fourth Anti Money Laundering Directive and the USA Patriot Act.
Hugh Jones, CEO, Accuity, says that DLT has the potential to disrupt how financial services are offered but that for the technology to break through to the real world, enabling compliance is crucial.
Adds Jones: "We are now looking at working with our customers to pilot this solution for a number of other use cases such as KYC, payments and trade finance compliance."