Sedicii is thrilled to announce its participation with PTSB in the Central Bank of Ireland’s inaugural Innovation Sandbox Programme for the first address verification service in Ireland. The Innovation Sandbox is a pioneering initiative designed to foster groundbreaking solutions for combatting financial crime. As one of seven participants selected from 38 applications across the innovation ecosystem, this is a significant milestone in Sedicii’s mission to revolutionise secure identity verification and financial security.
This programme highlights Ireland’s commitment to innovation, showcasing how cutting-edge technologies can minimise fraud, enhance KYC/AML/CFT frameworks, and bolster transaction security for consumers. At Sedicii, we are honoured to contribute to this forward-thinking initiative and lead the charge in privacy-enhancing technologies in partnership with PTSB.
Partnering with PTSB: A Secure Collaboration
Our collaboration with PTSB is a prime example of leveraging innovation to combat financial crime. Using Zero Knowledge Proofs (ZKP) and ESB Networks as the authority for address data in Ireland, Sedicii has developed a real-time solution for verifying customer names and addresses during the KYC process. This solution ensures full compliance with GDPR and eliminates the need to share personal data, demonstrating how advanced cryptographic techniques can redefine privacy and security in financial transactions.
A Step Forward in Combating Financial Crime
The Central Bank’s initiative underscores the importance of innovative solutions in safeguarding both financial systems and consumers. By collaborating with regulatory bodies, financial institutions, and technology providers, Sedicii is driving meaningful change in the fight against financial crime and helping to build a more secure financial ecosystem.
To learn more about the Innovation Sandbox Programme and its impact, visit the Central Bank of Ireland website.
The collaboration referenced in this article is part of Project PHACKS, an initiative focused on building collaborative communities to address complex cybersecurity and data privacy challenges. PHACKS is funded by the European Union and brings together organisations to explore new approaches to secure data collaboration utilising privacy enhancing technologies. Through this work, Sedicii contributes its expertise in advanced cryptography, secure data collaboration and digital identity to promote safer, more transparent digital ecosystems across Europe. The views expressed herein reflect the author’s perspective and do not necessarily represent those of the European Union. Learn more about Project PHACKS.