labs@atheron:~/industries/banking/blockchains$ launch chain --validators

Bank KYC ledger

Shared KYC records for credit unions and banks.

When several institutions want to rely on each other's checks, the hard part is a record none of them owns and all of them trust. A private permissioned ledger gives each participant a node and a signed history. If the group appoints one trusted operator, a shared database does the job for less.

Start a project See the example projects

// what matters here

What is different in this industry.

Records the check, not the documents

The ledger holds who checked whom, when and to what standard. The documents stay with the institution that collected them, which keeps personal information where it was given.

Consent before reliance

A member agrees before another institution relies on an existing check, and the consent is recorded alongside it.

Each institution keeps its own duty

Relying on a shared record does not move responsibility. Each participant still applies its own policy; the ledger shows what was done so it can decide faster.

A node per participant

Each credit union or bank runs its own node, so no single institution can change the history, and adding a participant is a configuration change.

// example projects

Priced examples for this service.

Each one is hypothetical, labelled as such, and priced live from our rate card. Open any of them in the estimator and make it yours.

Example projectWeb appBlockchain

Shared KYC for credit unions

Hypothetical. Not a client, not a result.

// The problem

Several credit unions verify the same business members and their beneficial owners separately, and each keeps its own copy of documents that go out of date.

// What we would build

A private permissioned ledger where each participating credit union runs a node and records that a check was done, by whom and when, while the documents themselves stay with the institution that collected them. A consortium with one trusted operator could use a shared database instead.

// What is in it

A node for each participating credit union
A record of each check: who did it, when and to what standard, without the documents
Consent from the member before another institution relies on a check
Alerts when a check is about to expire
A web console for compliance staff in English and French

// Stack

Hyperledger Besu (private, permissioned)
Next.js
PostgreSQL
AWS Canada

// estimate

Build: ≈ US$140,000 to US$214,000, delivered within 29 weeksCAD 199,400 to 305,000
Hosting: ≈ US$492 a monthCAD 700 a month
Support: ≈ US$2,500 a monthCAD 3,565 a month

Prices in your currency are estimates from today's Bank of Canada rate. All invoicing is in CAD or USD.

Timeline by milestone

Discovery: 2.9 to 3.4 weeks
Architecture: 0.4 weeks
Design approved: 3.4 to 5.4 weeks
Core features: 1.9 to 2.9 weeks
Full build: 0.9 to 1.9 weeks
Devnet: 3.4 to 5.4 weeks
Testing and fixes: 0.4 weeks
Testnet: 2.9 to 3.4 weeks
Security review passed: 2.9 to 3.4 weeks
Launch: 0.9 to 1.4 weeks
Mainnet: 0.9 to 1.4 weeks

Outside our hands, and added to the calendar

Penetration test by your chosen firm: 2 to 4 weeks

How it is paid

Deposit 20%: CAD 39,880 to 61,000
Discovery 2.2%: CAD 4,386.80 to 6,710.00
Architecture 5.9%: CAD 11,764.60 to 17,995.00
Design approved 2.2%: CAD 4,386.80 to 6,710.00
Core features 6.6%: CAD 13,160.40 to 20,130.00
Full build 4.4%: CAD 8,773.60 to 13,420.00
Devnet 17.7%: CAD 35,293.80 to 53,985.00
Testing and fixes 2.2%: CAD 4,386.80 to 6,710.00
Testnet 11.8%: CAD 23,529.20 to 35,990.00
Security review passed 8.7%: CAD 17,347.80 to 26,535.00
Launch 2.2%: CAD 4,386.80 to 6,710.00
Mainnet 6.1%: CAD 12,163.40 to 18,605.00
Holdback, 30 days after launch (10%): CAD 19,940 to 30,500

Start from this example

// questions

Questions we get about this.

Can we rely on another institution's KYC check?

That depends on the rules that apply to you and your own policy, which your compliance team and advisers decide. The ledger gives them the evidence of what was done, by whom and when, to make that call.

Is personal information written to the chain?

No. The chain holds identifiers, dates, the standard applied and signatures. Names and documents stay in each institution's own systems.

What does a KYC consortium need before starting?

Agreement among the participants on the standard of a check, who may read what and how a participant joins or leaves. We help write that down; the technology follows from it.

Back to the industry: Banking About the service: Private and public blockchains

// next

Not quite your project?

Tell us what you have in mind. We will come back to you with a range and the questions that would narrow it. Or book a call and talk it through.

Start a project Book a call