Billon and the Polish Credit Office (Biuro Informacji Kredytowej – BIK), the largest credit bureau in Central and Eastern Europe, have announced they will implement blockchain for storage and secure access to sensitive customer information. Billon’s blockchain technology will benefit the bureau through superior security, integrity and immutability of data. The fully-GDPR compliant solution guarantees total visibility, trackable history and full data integrity for any client-facing document including banking records, loan agreements, insurance claims, telephone bills and terms & conditions.
BIK, including Pekao, ING, mBank, Santander and Citi, tracks nearly 140 million credit histories of over 1 million businesses and 24 million people. “Our cooperation with Billon is long-term. We believe that blockchain technology will transform client communications in the financial sector. Our solution will soon be expanded to include electronic delivery with active confirmation and remote signing of online agreements. It is also important that the solution meets legal requirements of a durable medium of information, as well as the EU GDPR requirements,” said Mariusz Cholewa, President of BIK.