Deloitte Managed Services is a leading European RegTech Provider of end-to-end managed services for KYC and AML services. They combine their extensive expertise with advanced technology, high-quality data and unique mapping intelligence into easy-to-use solutions, no matter which industry or jurisdiction you operate in.

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KYC Credentials to Enhance Regulatory Compliant Fundraising

Polimec, a decentralized funding protocol developed on Polkadot, and Deloitte Switzerland are joining forces to issue reusable KYC/AML credentials enabling access to global fundraising of digital assets.

Banking grade standard KYC/AML credentials, issued by Deloitte, streamline the process of participating in early-stage fundraising on Polimec. The credentials are anchored on KILT, providing an additional level of regulatory compliance, security, and data privacy.

Users share their KYC/AML documentation exclusively with Deloitte, a company trusted by the largest multinational enterprises and governments worldwide. Deloitte Managed Services then provides KYC/AML credentials in Web3, an evolved version of the internet that incorporates blockchain technologies and decentralized systems. These Deloitte KYC/AML credentials present a more efficient and secure alternative to traditional KYC/AML methods, which typically involve significant time and resources to confirm the identities of customers.

Credentials will be available for natural persons as well as for legal entities in consideration of their respective needs:

  • Issuers: The credentials serve as authenticity certificates of the legal entity raising funds, instilling trust and accountability in funding rounds.
  • Participants: The credentials allow access to Polimec and enable the categorization into retail, professional, and institutional.

With the introduction of reusable KYC/AML credentials, Polimec revolutionizes fundraising practices by creating a compliant and transparent fundraising environment with the goal of ensuring data ownership for all stakeholders. Now each credential holder gets to choose who holds their data and decide what data to share with whom.

  • Issuers are able to offer contribution tokens to individuals/entities that have been appropriately certified by using the required KYC/AML standards, reducing their risk of fraud and ensuring a more secure, more compliant and pseudonymous investing environment. This enables the customization of funding round criteria such as jurisdiction and participant types and provides access for investors based on criteria specified by the issuer.
  • Participants no longer need to share KYC/AML documentation with multiple intermediaries and issuers to be compliant. Their sensitive documentation is shared with Deloitte exclusively; they save time and reduce the risk of potential data breaches and identity theft. Participants are also assured of project legitimacy due to the issuer and the founders obtaining KYC/AML credentials.

The result is a fast, accessible, privacy-preserving, and compliant authentication experience.

The KILT infrastructure ensures that KYC/AML credentials can be verified at any time. That verification is documented on Polimec, ensuring that all transactions and network participants can be processed in a regulatory compliant, transparent, and secure manner while preserving data privacy. As a result, Polimec is able to create a secure and regulatory compliant fundraising environment for all involved stakeholders.

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