Banks and Digital Privacy: Monetizing “Know Your Customer”

Posted January 21, 2019 in Business Technology & Digital Transformation Strategies, Data Analytics & Digital Technologies Cutter Business Technology Journal

In this article, the authors explore how banks could become “identity trust anchors” — and increase revenue as part of the process. Technologies like self-sovereign identity can help with the identity and privacy problem that is ubiquitous on the Web. In fact, KYCaaS (“know your customer” as a service) is a proposed new business model enabled as a new revenue-generating service. This is an interesting look at how fintech technologies, products, and services provide opportunities for companies to profitably commercialize transaction processing.

About The Author
Shivani Raghav
Shivani Raghav is a Technology Strategist at Cisco Systems, where she works on innovation projects in the areas of Internet of Things (IoT), privacy, and cloud infrastructure. She has a PhD in computer and electrical engineering from Ecole Polytechnique Federale de Lausanne, Switzerland. She can be reached at
Jari Koivisto
Jari Koivisto is a Strategic Engineer at Cisco Systems. He has a broad technical background, from digital signal processing software development for mobile phones to due diligence for acquisitions to strategies. Currently, Mr. Koivisto concentrates on due diligences for Cisco’s M&A and privacy strategy. He can be reached at
Frank Michaud
Frank Michaud is a Technical Leader at Cisco Systems. He is an embedded and distributed security technology expert with more than 15 years’ experience. Mr. Michaud currently focuses on privacy, Internet of Things (IoT), and fog computing security. He leads fog computing security and privacy innovation projects with engineers, innovation centers, partners, and startups. Mr. Michaud serves as cochair of the Security Working Group of the OpenFog… Read More
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