The ‘Chain of Custody’ uses 4Trust’s identity management, access control, encryption and real time authentication platform. Authentication of agreed documents and their related Assets and Activities — such as privileges and entitlements in encrypted Archives held in blockchain — is accomplished in real time using mobile or desk top applications. The authentication of the document holder can also be accomplished in real time using biometrics.
The ‘DocuChain Chain of Custody’ platform is aimed to ensure the provenance of documents and related processes that are critical to: customer relationship management; risk management; contractual commitments, regulatory compliance and other high-value and mission critical processes that directly impact business performance of the financial services provider- and its valued customers.
The total control of the Chain of Custody resides with the bank and insurance company at all times. With no data archives stored anywhere, that can be used by any external party.
The ‘Chain of Custody’ platform is licensed from DocuChain Limited, a British software developer and owner of the 4Trust platform. The TALL Group of Companies, the UK leader in the provision of secure paper and electronic payment solutions, is leading the launch of the 4Trust platform in the UK and Ireland. TALL is the founding member of DocuChain’s 4Trust Alliance, a global partnership of 4Trust licensees.
TALL customers using the 4Trust Chain of Custody platform will obtain a specially-crafted polymer document produced by the TALL Group itself. It will hold agreed metadata on the transactions such as: account opening information, asset titles, loans terms and conditions, pension rights, underwriting terms, as well as, a real time connection to external blockchain archives held by the enterprise and its clients.
The SmartPolymer Artifact incorporates fraud prevention features using laser engraved images, encrypted QR Codes and embedded intelligence in the form of near-field communications(NFC) integrated circuits. The Artifact is linked using mobile or desk top applications to the digital record of the transaction or entitlements in question held in blockchain. The provenance of the creation of both the Artifact and its related metadata are stored securely in the 4Trust Chain of Custody.
Philip Leone, Founder and CEO of DocuChain, said: “Legacy chains of custody are flawed and certainly not trustworthy and the costs to businesses are unacceptable. Our architecture authenticates all of the key elements in your Chain of Custody in real-time using Android, iOS and Windows apps. 4Trust delivers an immutable “Chain of Custody” for business performance, relationship management, governance and asset custodial services – to name a few.”
“Working with the TALL team has been very gratifying – they understand the dynamics and value of custody and how real time authentications engender trust, protect and value Identity, and deliver equities to financial services domains. TALL’s track record in delivering secure document and payments services to the UK’s leading financial institutions provides an existing, certified foundation of trust plus the requisite physical and logical security for delivery!” he added.
Martin Ruda, Group Managing Director of the TALL Group of Companies, said: “As the first licensee of the DocuChain Chain of Custody platform, the TALL Group will work with innovators in the UK’s financial services sector to enhance the security of the services they deliver to their clients; reduce document production and handling costs; whilst providing real time authentication of transactions, contracts and agreements using their own data archives and documents on their own servers. We’ve been a provider of trust and secure services to leading UK businesses for over 25 years. We serve the needs of our existing and new customers from our three technology support centres in Runcorn, Hinckley and Belfast. TALL has bridged the gap between the physical and logical domains of Trust. We look forward to demonstrating the measurable ROI TALL Group’s 4Trust Chain of Custody will deliver to organisations.”