GM Financial, the financing arm of the auto giant General Motors, has announced a partnership with Spring Labs, a blockchain startup, to work on identity fraud.
Spring Labs has been working on a blockchain-based network able to allow its users — such as banks, among others — to exchange information without sharing the underlying source data, with a special focus on identity information.
“Today’s announcement underscores our commitment and investment to advance these efforts, and we are pleased to collaborate with Spring Labs as a member of the SFIP program.” — Commented Mike Kanarios, Chief Strategy Officer for GM Financial.
The SFIP Program (Spring Founding Industry Partners) intends to create a regulatory compliant solution for ID verification and identity fraud prevention.
“Ultimately, this network is designed to transform how information and data are shared globally,” — Was shared on GM’s press release.
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