Polish Credit Office and Billon have developed a blockchain solution for customer information management.
Polish Credit Office, which is the biggest credit bureau in Central and Eastern Europe, together with a British fintech company Billon will introduce the blockchain technology for client data storage and secure access.
Biuro Informacji Kredytowej (BIK) that belongs to leading Polish banks and maintains over 140 mln credit histories, will establish a long-term cooperation with Billon.
The collaboration with the use of blockchain is expected to yield benefits to BIK, bringing integrity, security and immutability of customer data.
The partners joined forces in late 2017 and since then have developed a solution capable of publishing over 150 million documents per month and compliant with the GDPR requirements.
Billon and BIK have been trialling the blockchain development with eight banks in Poland, and the results show that even the largest institutions could implement entirely paperless customer service.