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Infosys Finacle Partners R3 To Develop Blockchain Solutions

On Wednesday, Infosys Finacle and blockchain software company, R3 announced their collaboration to partner on blockchain solutions.

Author: Sohrab Khawas

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    Infosys Finacle Partners R3

    Infosys subsidiary Finacle is a part of EdgeVerve Systems Limited. R3 is one of the rapidly evolving enterprise blockchain software firms in the world. Both companies signed an agreement to collaborate on blockchain solutions. In fact, this bond will allow the banks to access and deploy Finacle’s blockchain pieces on Corda- an open-source blockchain platform at R3.

    Further, in the beginning, Finacle will own two solutions accessible on the Corda platform

    1. Finacle Trade Connect
    2. Finacle Payments Connect

    1) Finacle Trade Connect- Blockchain finance trading solution which links banks, partners and corporates using a uniting distributed network. Moreover, it supports a complete suite of trading and supply chain products.

    2) Finacle Payments Connect– Blockchain solution which allows real-time payments to process on a trustful payment network. Moreover, it supports the process of banks automates payments system. That too encircles their corresponding banking relationships.

    The Reason Behind Partnership

    Banks can automate their payments and trading procedure by leveraging these two solutions:

    • Speed up their business
    • Drive operational efficiencies
    • Reducing risk

    The central authority can also utilize these solutions to design and develop an intra-group network with international subsidiaries, and clients. Additionally, they can organize white label servicing networks. Basically, to enjoy trading and payments services for several financial institutions.

    There’s a big positive aspect that Finacle solutions are compatible to work seamlessly with numerous ecosystems. Moreover, according to the CEO at R3, David E. Rutter,

    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.

    The Chief Business Officer at Infosys Finacle, Sanat Rao says, “Blockchain is poised to help banks automate inter-organizational processes to drive unprecedented efficiencies and customer value.” Further, he also adds, this partnership will allow banks to leverage Finacle’s award-winning blockchain solutions on the Corda platform to accelerate their blockchain-based business re-imagination.

    What do you think of this partnership? Let’s discuss more on Twitter.

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