KYCOS Holdings, the firm which supplies 'Know Your Customer' due diligence services from its base on the isle of Man, has commissioned IBM to build a secure and high-volume storage system which will form the basis of its international registry and compliance documentation, according to the Isle of Man Online.
John Bourbon, Chief Executive Officer of KYCOS explained that compliance documents will be authenticated by the firm before being scanned into the registry system where the information will be encrypted and stored. The database facilities will be housed in the Isle of Man and the Cayman Islands with an identical back-up system located in Jersey.
The anticipated launch of the registry will be this autumn in the Isle of Man, the Channel Islands, the Cayman Islands and Gibraltar with the system being introduced into the United States next year.
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