Bengaluru, London, Sydney and New York – October 24, 2018: Infosys Finacle, part of EdgeVerve Systems Limited, a fully owned product subsidiary of Infosys (NYSE: INFY), and R3, one of the fastest growing enterprise blockchain software companies in the world, today announced their partnership to collaborate on blockchain solutions. This partnership will enable banks to easily access and deploy Finacle’s blockchain solutions on Corda, R3’s open-source blockchain platform.
Finacle will initially have two solutions available on the Corda platform – Finacle Trade Connect and Finacle Payments Connect.
Finacle Trade Connect is a blockchain-based trade finance solution that connects banks, trade partners and corporates on a unified distributed network. It supports a full suite of trade and supply chain finance products such as Open Account, Letter of Credit, Invoice Financing, Bills Collection, PO Financing, Bank Guarantees and Packing Credit.
Finacle Payments Connect is a blockchain-based solution that enables real-time payments processing on a permissioned payments network. It helps banks automate payments processing within their corresponding banking relationships.
Leveraging these solutions, banks can automate payments and trade process across key business partners and customers to accelerate speed of business, drive operational efficiencies and minimize risk. The banks can also use these solutions to build an intra-group network along with their international subsidiaries, and clients. Besides, they can curate white labeled service networks to facilitate trade and payments services for other financial institutions.
Being agnostic to the underlying distributed ledger technology, Finacle solutions can work seamlessly with multiple ecosystems. With this partnership, these solutions will be available on the Corda platform. This will enable various regional networks currently operating on the Corda platform to use the Finacle solutions for seamless collaboration and engagement.
David E. Rutter, Chief Executive Officer, R3, said, “Banks will now have easy access to best-in-class blockchain solutions via Corda, enabling them to create efficiencies, save costs and mitigate risk. We are pleased to welcome Infosys Finacle to our rapidly growing partner network and look forward to working with them.”
Sanat Rao, Chief Business Officer, Infosys Finacle, said, “Blockchain is poised to help banks automate inter-organizational processes to drive unprecedented efficiencies and customer value. At Finacle, we are pioneering several blockchain based solutions to help drive progress in the industry. We are happy to partner with Corda in this journey. With this partnership, banks will be able to leverage Finacle’s award-winning blockchain solutions on the Corda platform to accelerate their blockchain based business re-imagination.”
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
MARRIOTT INTERNATIONAL NAMED AS A KINCENTRIC BEST EMPLOYER IN ASIA PACIFIC FOR SIXTH CONSECUTIVE YEAR
Celebrate this Sunday with a family brunch at 3 Spices, DoubleTree by Hilton Pune-Chinchwad.
Atlas Copco unveils next generation portable air compressors at Excon 2019 in Bengaluru
Indian Railways to invest over ₹ 10 lakh crore on various projects in the next 5 years
Emission-free, efficient and safe: The future urban construction site
2014 The Global Indian New Network (TGINN)