Innovation and regulation can work hand in hand — and Ireland is leading the way! We’re proud that Sedicii and our CEO Rob Leslie were featured in the Business Post’s coverage of the Central Bank of Ireland’s inaugural Innovation Sandbox — an initiative designed to bring innovators and regulators together to tackle some of the financial sector’s biggest challenges.
Sedicii’s project, developed in partnership with ESB and PTSB, uses zero knowledge proof (ZKP) technology to verify customer data without ever sharing or exposing personal information — ensuring privacy, security and compliance in one seamless process.
The results speak for themselves:
PTSB revealed that its “first-time success rate” for initial onboarding of new customers was up more than 20 per cent to reach over 60 per cent, according to Leslie. “And everybody was happy,” he says. “The regulator got what they wanted. Our customer got what they wanted. And the bank’s customer got an easier process to comply with.”
Congratulations to the Central Bank of Ireland team on the success of the first sandbox — and here’s to continued collaboration between innovators, regulators, and the broader ecosystem to build safer, smarter financial services.