The ID Register has been recognised with a silver award at the Guernsey Financial Services Commission’s (GFSC) “Soundbox Sprint Innovation Challenge” on Friday 22 June 2018.
The one day event challenged participating teams to develop digital solutions for one or more of three pre-set challenges, including how technology could be used to; optimize efficient and effective client due diligence, improve administration and assist the financially excluded.
The ID Register was presented the award in recognition of the solution it offers for continually changing regulatory requirements and the lengthy paper based processes associated with client due diligence. The online platform makes client onboarding quicker, easier and more cost effective by allowing users to complete one profile of Subscription, KYC and FATCA information and connect it to each of their investments and service providers.
A total of 10 teams participated in the challenges throughout the day, with representatives from financial institutions, accountants, lawyers and technology companies.
Tim Andrews, Director of The ID Register, commented “I would like to thank the Guernsey Financial Services Commission for organizing such an open and supportive event. The Guernsey community is making Fintech work in the real world, supporting clients globally while generating local high value jobs and profitable, growing companies. The event showcases the quality of skilled professionals that Guernsey has to offer and demonstrates that the island is open for business in international markets.”
You can find out more about this year’s Soundbox Sprint Innovation Challenge on the GFSC website here.