Revolutionizing Client Verification: The TTG and Tokenbridge Collaboration
Tokenbridge’s engagement with TTG, a firm actively involved with global banks, pension schemes, and prominent wealth managers such as Natwest Group and Santander, signifies a paradigm shift in client verification methodologies. TTG specializes in locating and verifying missing customers and holds a substantial 60% market share in the Child Trust Fund sector, connecting 3.5 million clients under the age of 21 in the UK with government-issued savings accounts.
Implementation of Hyper-Personalized Tokenization
Tokenbridge has been entrusted by TTG to design, advise on, and implement cutting-edge technology to extend hyper-personalized tokenization capabilities to its clients. These innovative tokens are poised to offer clients a secure, infallible, and transferrable record of their personal details using blockchain technology. The primary objective is to streamline the client onboarding process significantly, mitigating costs and friction. These tokens will serve as digital passports, eliminating the need for customers to repetitively complete applications from scratch.
Advancing KYC and AML Compliance Efforts
The implementation of hyper-personalized tokens is anticipated to play a pivotal role in assisting banks to adhere efficiently to KYC and AML regulations. Traditionally intricate and labor-intensive verification processes will be accelerated, marking a significant leap in operational efficiency for financial institutions.
Daron Pearce, Executive Chair of Tokenbridge, emphasizes the critical role of personalization in the digital age, stating, “In the digital age, personalization is no longer a luxury, it’s an expectation.” He expresses Tokenbridge’s commitment to collaborating with TTG to future-proof their business and equip clients with the necessary tools to engage with present and future generations effectively.
Danielle Higgins, Managing Director of TTG, underscores the importance of securely identifying clients in an evolving landscape. She notes, “Tokenization is the natural next step for the financial services industry when it comes to identity, KYC, and AML.” The adoption of tokenization becomes imperative to appeal to a growing digital-native audience and increasingly sophisticated incumbent clients.
Tokenbridge: Driving Innovation in Financial Technology
Tokenbridge stands out as a technology firm and platform with a robust, blockchain-agnostic architecture. Its mission is to reduce costs and simplify processes for fund managers, wealth managers, and infrastructure providers, positioning them better to meet the evolving needs of the next generation of investors.
Strategic Growth and Advisory Board Appointments
In tandem with this collaboration, Tokenbridge has recently appointed four senior advisors to its advisory board. These advisors, comprising senior finance technology and blockchain experts, will guide the firm as it expands and refines its offerings. Tokenbridge is poised to conclude its current funding round in Q1 2024, marking a crucial milestone in its journey of innovation and industry transformation.