Integrated modeling of the customer identification process in the banking industry using blockchain technology in line with regional planning and sustainable development

A vital element for all institutions and organisations is to identify the identity of the customer. The Customer Identification Process (KYC) is a customer identification program that verifies and records customers' identities and addresses. The customer identification process that financial institutions (FIs) are required to follow whenever they establish a financial relationship with a new customer is financially burdensome but does not add any productive value. The customer identification process is a regulatory and compliance obligation for the conventional banking and financial system to capture customer information before processing and providing any financial services. In banks, the customer identification process is embedded in the account opening forms, which allows customers to provide accurate information and ideally update them as soon as any changes in customer identification data occur. Currently, the customer identification process is carried out separately by different businesses, and the same data is provided by users to several businesses and independently verified by each of them. It will be much more efficient if the customer identification process is securely shared between organizations to provide the customer a better quality of experience (QoE). However, due to the lack of trust between organizations, this data is not shared between them, hence the need for a solution that can guarantee trust and reliability. In this research, using blockchain technology, the development of a new and native model is discussed, the purpose of which is to accelerate and improve the efficiency of the customer identification process. In this research, using the design science method (DSR) and Hevner et al.'s  [۱۹] approach, we will try to understand the situation, identify the needs and goals of the customer, provide the necessary plan, and then create a comprehensive and optimal customer identification model based on blockchain technology.

کلیدواژه ها:

Know Your Customer (KYC) ، Blockchain ، Design Science Rsearch (DSR) ، Self-Sovereign Identity (SSI)