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Finance Pilot #4: KYC/AML
Executive Summary
SagaFinance™ Pilot 4 KYC/AML Profile Management with Enclave Privacy
The Breakthrough
Pilot 4 introduces a privacy-first KYC/AML solution that allows financial institutions to securely onboard and share compliance profiles on SagaChain without ever exposing personally identifiable information (PII) on the blockchain. By combining immutable on-chain references with secure off-chain enclaves, Pilot 4 delivers compliant, auditable, and instant KYC/AML verification for banks, fintechs, and regulated entities worldwide.
The Problem Today
Traditional KYC processes are slow, expensive, and repetitive, often taking weeks and costing millions in redundant checks.
PII is shared across institutions, increasing breach risk and regulatory exposure.
Sanctions screening and AML compliance remain manual and error-prone, delaying onboarding and increasing operational costs.
Trust gaps between institutions slow cross-border transactions and new account openings.
What Pilot 4 Achieves
Using SagaChain’s programmable class tree and private enclaves, Pilot 4 enables:
Instant & Private Onboarding – A business or individual registers a verifiable profile (e.g., via LEI) in seconds, with PII securely stored off-chain in enclaves.
Immutable On-Chain References – Only opaque references (enclaveRefs) and compliance attestations live on-chain, ensuring auditability without privacy risk.
Real-Time Sanctions & AML Checks – Automated linking to regulators (e.g., OFAC) with status updates (“PENDING” → “CLEARED” or “BLOCKED”).
Secure Sharing & Revocation – Authorized parties can query profiles with full privacy controls; revoked profiles are immediately expired and inaccessible.
Real-World Benefits
For Banks & Fintechs
Reduce KYC/AML processing time by 70-90%, from weeks to minutes.
Slash redundant checks and compliance costs by reusing verified profiles across institutions.
Achieve regulatory-grade privacy and auditability in every transaction.
For Compliance Officers & Regulators
Gain tamper-proof, real-time visibility into compliance status without accessing sensitive data.
Support FATF-aligned AML/CFT standards with built-in sanctions screening and revocation.
For the Broader Financial Ecosystem
Enable faster, safer cross-border payments and account openings.
Reduce fraud and operational risk through privacy-preserving compliance.
Projected industry savings: $2-4 billion annually in KYC/AML overhead at scale.
Available now (on public development testnet) for review and testing
Pilots starts in ~90 days
Pilot 4 is live on the SagaChain testnet today low-risk, high-impact, and ready for real-world compliance testing. We invite banks, fintech KYC providers, compliance teams, and regulators (e.g., FATF, OFAC, SEC, ESMA) to:
- Test the pilot with your own mock profiles and LEIs.
- Validate enclave privacy and sanctions screening workflows.
- Co-develop extensions (e.g., full FATF Travel Rule adapters, multi-jurisdiction revocation).
- Take shared custodianship to prepare for global production launch.
More than a technical pilot…
The foundation for a safer, faster, and more trustworthy global financial system.
The financial community and investors have a unique opportunity to take custodianship of this transformative class tree.
By verifying the architecture, completing bindings for standards like US-GAAP XBRL, IFRS, and regional mandates, and collaborating on refinements, you’ll accelerate a global launch that delivers massive operational efficiencies (e.g., 80% faster reporting, real-time validations) and financial gains (reduced errors, billions in savings, enhanced transparency).
This open framework empowers filers with accurate disclosures, regulators with efficient oversight, and the entire market with trustworthy, machine-readable data.