Deloitte and Irish Banks Developing Blockchain Based Education Platform
Deloitte and the Institute of Banking (IoB), Bank of Ireland, AIB and Ulster Bank are together developing the education platform based on blockchain technology reported on 30 May 2019.
In the industry of European financial services, this is the first blockchain based platform that will support the verification, tracking, direct access to, and management of, regulatory and other professional designations, education qualifications, and lifelong learning credentials.
This platform will be helpful in reducing annual costs, reducing risk and enhancing the user experience for the banking industry.
It also helps employees in accessing their educational qualifications, professional designations, CPD, and completed lifelong learning courses and events through the provided digital wallet.
David Dalton, Head of Financial Services at Deloitte said that they are going to develop a great product using blockchain technology to a vital area of banking.
We are delighted to be leading the collaboration with the banks and Deloitte in developing this innovative industry platform using blockchain technology which is the first of its kind in Europe. It’s an example of the innovation happening in financial services and Ireland’s growing blockchain ecosystem. More than 23,500 members hold a professional designation with The Institute of Banking and, ultimately for us, it’s all about sustaining the highest professional standards for the benefit of the customers who are served by the financial services industry.
– Mary O’Dea, Chief Executive of The Institute of Banking
It is expected from the report that the project will complete its pilot phase until the end of summer, and the full rollout of the system expected by the late summer of 2020.
Yesterday, Singaporean blockchain firm PLMP Fintech will be awarded by multi-million in partnership with the government of Indonesia.
