The Institute of Banking (IoB), Bank of Ireland, AIB, and Ulster Bank teamed up with accounting services firm Deloitte to develop a blockchain-powered platform to provide a single view of their employee’s competency and talent frameworks.
The platform will provide each employee an easily accessible digital wallet containing all their educational qualifications, professional designations, continuing professional development as well as completed lifelong learning courses and events.
This is expected to help banks to have a single view of each employee’s competency and talent frameworks in compliance with the Central Bank of Ireland’s Minimum Competency Code (MCC) and Fitness and Probity regimes for financial institutions.
The new financial services industry employee education data platform, claimed as first of its kind in Europe, will support the verification, tracking, access and management of regulatory and other professional designations, education qualifications and lifelong learning credentials.
The pilot phase of the project is expected to be completed in the late summer, with the roll out of the system to IoB members expected by summer 2020.
Deloitte’s Dublin-based EMEA Financial Services blockchain lab, which was launched in January 2017, is assisting the Irish banks for this project. It was launched with the aim to advise clients on blockchain technology‘s application. It enables enterprises to test use cases, right through to the technical architecture and the design and development, and the deployment of it.
Source: Read Full Article