Kyckr Limited, a fintech firm with headquarters in Australia and Ireland, has announced the completion of phase one in the development of its corporate identity blockchain service.

The service is being built using the Credits blockchain platform. Credits, the blockchain infrastructure provider, was recently awarded the first UK Government G-Cloud framework agreement for the supply of blockchain platform-as-a-service on the Digital Marketplace. The Credits platform is also used by the Isle of Man government.

“This is a very important day in the development of Kyckr’s service portfolio. Being able to provide authoritative corporate data that has been made immutable and secure through deployment on the Credits’ blockchain platform will open up many new opportunities in financial services, controlling supply chains and other regulated industry sectors”, Kyckr’s Global Head of Innovation, Rob Leslie said.

Kyckr said that this new capability will accompany its commercially proven automation model for KYB and is ready for the next phase of commercialisation. The corporate identity blockchain solution will be a significantly more voluminous per click business model than its automation model when it is running at scale. It added that the uniqueness stems from the same day, direct links to corporate identity sources, including over 150 business registers around the world.

In addition, the firm has also appointed two senior business development personnel – Edward Doyle, Regional Director for Europe, and Filip Verbeke, European Business Development Manager, Finance Magnates reported. Doyle is a fintech and regtech business leader with 15 years of experience, while Verbeke is an expert in anti money laundering, regulatory compliance and fraud prevention.

“The addition of Ed and Filip to the team is our first major step in strengthening our business development capabilities, critical for closing well qualified pipeline at hand. Both Filip and Ed also bring their own relationships and pipeline having successfully sold to most of our targets for many years”, David Cassidy, Kyckr’s Managing Director, said, as quoted by Finance Magnates.