The credentials of the supplier are verified by DBS within seconds by using the bank’s API and leveraging it to integrate its digital onboarding service, which requires facial biometric authentication, into the blockchain platform. The blockchain platform is also integrated with various China government databases to further validate and verify the authenticity of the transactions made by suppliers in the ecosystem to mitigate risks, according to Ginger Cheng, head of large and mid-cap corporates, DBS China.