Wecan Group, a Geneva-based fintech, is transforming KYC compliance in Europe with a decentralized blockchain solution. Coveted by institutions in financial centers in Luxembourg, this innovation redefines traditional practices, strengthening security and efficiency.
Conquer Europe!
Building on their success in Switzerland, Wecan now aims to expand across Europe. Their solution has demonstrated its relevance for facilitating cross-border exchanges while guaranteeing data security.
According to Vincent Pignon, founder of Wecan, the objective is to “allow our customers to use our solutions in the same way as in Switzerland. » Indeed, since 2015, Switzerland has been developing a collaborative KYC model through the Blockchain Association for Finance.
This innovative architecture allows financial intermediaries to share customer data while maintaining control of their information. Thus, onboarding procedures are considerably accelerated, costs reduced, and auditability reinforced. The blockchain ensuring the traceability of exchanges.
Wecan therefore relies on its blockchain expertise to develop a KYC standard compatible with the regulations of different member countries. This project aims to create a more efficient financial ecosystem, where customer information would be shared securely between authorized institutions, while respecting local legal frameworks. Thus, Wecan intends to revolutionize KYC management across the European continent.
Wecan wants to simplify KYC compliance in Luxembourg
Luxembourg, one of the most influential financial centers in Europe, plays a central role in Wecan Group's expansion strategy. Home to numerous financial institutions, Luxembourg represents a key market for Wecan solutions. Wecan Group sees this as an opportunity to strengthen compliance standards by introducing an innovative approach, offering Luxembourg institutions the possibility of pooling their efforts in terms of KYC while ensuring the confidentiality of customer data.
Thanks to its expertise, Wecan will be able to develop advanced functionalities such as automatic data verification, thus establishing a new standard in regulatory compliance. This approach will greatly simplify the onboarding and multi-bank wealth management processes.
Wecan Group embodies innovation in the service of regulatory compliance. Its solution revolutionizes KYC practices, offering European financial institutions a collaborative, secure and scalable approach.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
