Pliance - Blockchain for reporting of anti-money laundering processes
| Reference number | |
| Coordinator | Plisec AB |
| Funding from Vinnova | SEK 300 000 |
| Project duration | October 2019 - January 2020 |
| Status | Completed |
| Venture | Innovative Startups |
| Call | Innovative Startups step 1 autumn 2019 |
Purpose and goal
The aim of the project was to develop and test a blockchain-based solution for logging and reporting that anti-money laundering processes (AML) have been carried out. This system will now simplify the reporting process for companies to report completed AML processes both internally and also externally against, for example, financial regulators such as the Swedish Financial Supervisory Authority. At the same time, it will be secure and more reliable than the available alternatives.
Expected results and effects
At the end of the project we now have a working and tested version of the blockchain solution used in production. This means that our customers now have secure, reliable reports on their completed AML processes.
Planned approach and implementation
Work on the project began with continued discussions with customers and potential customers, and then went on to explore, design, and test different methods of conducting tests. By testing different methods, we arrived at a prototype that makes the process easy for us to implement and administer, and requires very little financial resources.