Today the Institute of Banking (IoB) in Ireland
announced a new blockchain credentialing platform in collaboration with the Bank of Ireland, AIB, Ulster Bank and Deloitte. Qualifications and ongoing professional education can be verified using the blockchain in line with the Central Bank of Ireland’s Minimum Competency Code for financial institutions.
The aim is to enable banks to have a single view of all their employees’ qualifications and learning and for employees to have a wallet containing all the data. The Institute hopes that other professional bodies in Ireland might be interested in using it. Credentialing was also the focus of a similar
PwC project for the Scottish Institute of Chartered Accountants.
Talking about the blockchain project, The Institute of Banking CEO Mary O’Dea commented: “More than 23,500 members hold a professional designation with The Institute of Banking and, ultimately for us, it’s all about sustaining the highest professional standards for the benefit of the customers who are served by the financial services industry.”
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