Pikcio, a technology company, will showcase its GDPR-compliant customer data handling solutions on the blockchain at Gitex 2018 in Dubai.
Customer data is the internet’s new currency. For companies, collecting, authenticating and protecting their customers’ data is an effort amounting to billions of dollars each year. Traditional data handling solutions are not built with newly implemented, data protection legislation like GDPR in mind, resulting in an increase of processing costs and time as well as poor customer satisfaction and ROI.
Pikcio has developed a customer data exchange platform on its own custom-built, fully GDPR compliant blockchain, that seamlessly solves all these issues. The company is now able to offer 100 per cent digital native solutions for every organisation facing complex processes to collect, verify and classify customer data.
For businesses, the company’s fully GDPR compliant, customer data exchange has many benefits: It is customizable, it permits companies to benefit from a non-invasive infrastructure, a reduced third-party dependence and a stronger, faster and cheaper user identification. It eliminates redundancies and enhances data collaboration across departments and business lines.
Pikciochain is a data agnostic platform, in order to manage and handle a wide range of use cases and products. It handles both corporate and personal data. The first solutions have been developed in the banking, insurance and healthcare sectors. However, Pikciochain is an open platform where every corporation can create its own solution.
For the banking and insurance sectors, Pikcio’s shared ledger platform benefits all stakeholders by:
• Enabling greater transparency: Immutable ledger that enables sharing of KYC information across banks;
• Reducing operational inefficiencies: Reduces customer onboarding time by 50-75 percent and enhances customer experience;
• Ensuring up-to-date customer data: A single source for customer data reduces potential for fraud.
Founded in 2014, Pikcio is present in 10 different countries including the US, Japan and France, its Mena operations are run from Bahrain Fintech Bay.