You are here: Home » News-CM » Companies » News
Business Standard

Infosys Finacle and R3 Partner to Bring Blockchain Solutions on Corda for banks

Topics
Business Finance

Capital Market 

Infosys Finacle, part of EdgeVerve Systems, a fully owned product subsidiary of Infosys 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.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, October 24 2018. 11:24 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU