Saturday March 06, 2021
Bitcoin (BTC) $48,826.00   Ether (ETH) $1,583.89
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Blockchain Technology

Infosys Finacle partners with Hatton National Bank for blockchain-based trade finance in Sri Lanka

Published by CryptoNinjas.net
03/12/2019
Infosys Finacle partners with Hatton National Bank for blockchain-based trade finance in Sri Lanka

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, today announced that Hatton National Bank (HNB), a leading private sector commercial bank operating in Sri Lanka, has selected Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network.

The Finacle Trade Connect solution will be used by HNB to pilot a trade network with other corresponding banking partners and its corporate clients. The network is expected to help HNB and other participating entities substantially increase automation and transparency, while efficiently managing risks in trade and supply chain financing operations.

Highlights
  • Finacle Trade Connect will help digitize trade finance business processes, including validation of ownership, certification of documents etc., while working on a distributed, trusted and shared network.
  • Along with higher automation and increased transparency, banks will gain real-time availability of data for better decision making and creation of new business avenues
  • Trade Connect supports a full suite of trade and supply chain finance products such as Open Account, Letter of Credit, Invoice Financing, Bills Collection, PO Financing, and Bank Guarantees.
  • Banks, buyers, and sellers will be able to maintain a direct relationship on the Finacle Trade Connect powered network and connect with each other on digital channels.
  • Further, the pilot network will allow for the instant transfer of messages and documents between the parties involved in a completely secure manner reducing lifecycle turnaround time.
  • Banks will be secure from technology evolution risks as the Finacle Trade Connect is agnostic to underlying blockchain infrastructures such as Hyper ledger, Corda, Ethereum and Bitcoin.

“Blockchain technology offers unprecedented opportunities to transform banking, with advantages increasing exponentially with increased collaboration. We have pioneered multiple solutions to help our clients take advantage of this emerging technology to realize real business benefits. We are excited to collaborate with HNB in this promising journey and look forward to more partners joining the network.”

Sanat Rao, Chief Business Officer, Infosys Finacle

“Critical to blockchain’s achieving economic viability is scalability. The addition of a new client using Finacle Trade Connect is a promising sign. Early this year, Celent recognized the India Trade Connect, a blockchain-based domestic trade finance platform powered by Finacle Trade Connect, with the 2018 Model Bank award. The India Trade Connect consortium recognized that they needed a strong tech partner to provide the ecosystem infrastructure.”

Alenka Grealish, Senior Analyst, Celent
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Infosys Finacle and R3 complete trial of blockchain based trade finance application
Blockchain Technology

Infosys Finacle and R3 complete trial of blockchain based trade finance application

09/23/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version