Cambridge Blockchain provides digital identity enterprise software for financial institutions.
Financial institutions face growing compliance challenges related to identity, with know-your-customer costs that can reach hundreds of millions of dollars per year for large banks. Strict data privacy rules such as the European General Data Protection Regulation (GDPR) also limit the ability to access validated customer identity attributes from other trusted parties.
Cambridge Blockchain’s distributed architecture resolves the competing challenges of transparency and privacy, resulting in faster customer onboarding, lower costs, and enhanced compliance through a single, trusted and consistent view of customer reference data.
In July 2019, Cambridge Blockchain announced that they have partnered with LuxTrust, a leading Digital Trust Services Provider in Luxembourg, to create IDKEEP, a privacy-protecting European identity platform. IDKEEP is currently in the private beta-testing phase.
In December 2020, Blockchains Management acquired Cambridge Blockchain.