ARV partners with IBM to build a national digital corporate identity system for Thailand’s standardized corporate onboarding process

BANGKOK, Jan. 31, 2022 /PRNewswire/ — AI & Robotics Ventures Company Limited (ARV), a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), announces that it is launching a blockchain-based National Digital Corporate Identity (NCID) platform, developed in collaboration with IBM (NYSE: IBM).

The platform will reduce the time it takes for corporate onboarding, also known as Know Your Customer (KYC), at banks. By improving the identity verification of corporate authorized signatories, what used to be a paper-intensive process that could take more than four weeks to complete, is reduced to less than a week. The swifter and leaner process will offer more opportunities for banks and corporates to engage in opportunities which otherwise…