Soramitsu and PT Bank Central Asia Tbk (BCA) tested a self-sovereign identity solution for companies in the BCA Group, using the open source distributed ledger (blockchain) Hyperledger Iroha. The solution is based on the advanced concepts of decentralized digital identifiers, verifiable claims and cryptographic algorithms that will lower the costs of the KYC procedures while speeding up the customer onboarding process and other business processes.
BCA is one of the leading commercial banks in Indonesia with a core focus on transaction banking business and providing loan facilities and solutions to the corporate, commercial and SME and consumer segments. At the end of September 2018, BCA had the privilege of serving 18.5 million customer accounts, processing millions of transactions every day through 1,243 branches, 17,440 ATMs and more than 500,000 EDC machines, as well as transactions made over the 24-hour internet and mobile banking systems.