❗ Major Polish bank implements the Blockchain document storage system❗

Polish major bank PKO Bank Polski recently announced its partnership with Blockchain Coinfirm to provide a DLT-based storage and audit system for bank documents, TechCrunch reported March 29.

The recently signed agreement aims to bring the Blockchain technology to the PKO banking system through the Trudatum tool developed by Coinfirm. The system will provide customers with secure means to access documents that contain information about rules, transactions, fees and commissions.

Anna Streżyńska, president of the Polish company Fintech MC2 Solutions, noted that banks are more interested in using Blockchain for document management systems, since the existing tools for informing customers do not meet the security requirements. Methods such as e-mail or notifications on the website may be subject to change and deletion of data.

The Blockchain storage system can also save the cost of operating PKO, as it eliminates the need for costly paper documentation for more than 9 million customers.

According to the vice-president of PKO Bank Adam Marchinyak, the bank began testing Trudatum last year. After successful testing, the bank signed an agreement on continuing cooperation on the project.