Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Fujitsu develops Digital Identity technology to secure Online transactions

Japanese based Fujitsu Laboratories Ltd. today announced its Digital identity exchange technology. This tech enables individual users and business services involved in online transactions to confirm the identity of other parties involved in the transaction.

To reduce risk counterparty frauds in online transactions Fujitsu Laboratories developed a blockchain-based tech solution that analyzes the risk of falsification and the trustworthiness of the other party’s personal credentials when a user conducts a transaction online. This is achieved by a mutual evaluation of the user when a transaction occurs, and by inferring the relationships between users based on past transaction data.

The Blockchain-based technology analyzes the trust relationship of each user which allows the system to determine the trustworthiness of the counterparty engaged in an online transaction. It allows users to easily confirm their personal credentials while they’re entering in an online transaction. This solution helps companies to build a digital ecosystem which makes online transactions safe and secure.
The Japanese based tech company will continue to develop a digital identity exchange technology as a trust-based service platform and will conduct trials in a variety of fields.

In addition, Fujitsu aims to implement this technology during the financial year 2019 as new functionality in its Fujitsu Intelligent Data Service Virtuora DX Data Distribution and Utilization Service which is believed to be a cloud-based solution for data utilization technology solution powered by blockchain technology.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »