Tag Archives: Blockchain

South Indian bank does remittance using blockchain

Reported by | Updated: December 5, 2017

South Indian Bank said it has done overseas transactions using blockchain technology in partnership with a leading currency exchange house in the Gulf. The bank now is among some of the leading global banks, which have successfully carried out remittances electronically in real-ttime using blockchain. The pilot transaction was successfully executed from UAE to India. […]

Blockchain based syndicated loans possible soon

Reported by | Updated: August 22, 2017

A Credit Suisse-led consortium of banks is preparing to launch a commercial platform for blockchain-based syndicated loans. News reports quoted Emmanuel Aidoo, who leads Credit Suisse’s blockchain efforts, as saying the experimentation is moving ahead and few dozen smaller loan transactions through a distributed ledger platform could be possible soon where the participating banks would […]

Kotak Mahindra Bank does LC transaction using blockchain

Reported by | Updated: May 18, 2017

Kotak Mahindra Bank announced it has done a letter of credit transaction using blockchain. The bank said using blockchain helped the bank to reduce the transaction time from up to 30 days involved earlier to less than two hours. It said it is the first bank in the country to successfully complete the proof of […]

NBO completes blockchain transaction

Reported by | Updated: May 2, 2017

National Bank of Oman said it has successfully completed an international remittances pilot project using blockchain technology. The bank said it has completed international transfers in association with NBO’s alliance partner banks, ABank in Turkey and United Arab Bank in the UAE. The bank has now been initiated as part of the blockchain pilot project, […]

RBI tests blockchain

Reported by | Updated: January 16, 2017

Institute for Development and Research in Banking Technology (IDRBT), the research unit of RBI successfully tested blockchain technology in a project involving regulators, banks, financial institutions and clearing houses. The technology was used in a trade application with banks and the National Payments Corporation of India (NPCI) participating too. After success of the project, IDRBT […]

YES Bank develops blockchain solution

Reported by | Updated: January 6, 2017

YES Bank said it has implemented a multi-nodal blockchain transaction system to fully digitize vendor financing for Bajaj Electricals. The implementation has been done on a blockchain-based smart contract written by fintech start-up Cateina Technologies. The bank will also leverage IBM Watson Conversation, a cloud-based cognitive service, to enhance the digital experience of partners, corporate […]

BNP Paribas does blockchain transactions for two clients

Reported by | Updated: December 23, 2016

BNP Paribas revealed it has completed real-time payments for two of its longstanding corporate clients, Amcor and Panini Group using blockchain technology. The bank has successfully processed and cleared payments in various currencies for Panini Group and Amcor between their BNP Paribas bank accounts located in Germany, the Netherlands and the United Kingdom. The bank […]

Microsoft in partnership to launch blockchain network in Taiwan

Reported by | Updated: December 15, 2016

Microsoft is partnering with Taiwan’s AMIS and the Industrial Technology Research Institute of Taiwan (ITRI) to form Asia’s first consortium blockchain network on Azure. AMIS’s blockchain solutions will be used with Azure as the cloud platform, which is a BaaS, or Banking-as-a-Service platform. Azure will provide public, private and hybrid cloud models and business and […]

HSBC, BofA join Singapore blockchain developer

Reported by | Updated: August 11, 2016

HSBC Bank and Bank of America have joined Infocomm Development Authority of Singapore to collaborate on blockchain technology. The banks said they had created the world’s first application using blockchain technology to simplify one of the most cumbersome aspects of trade finance. The banks joined with Infocomm Development Authority of Singapore to emulate a letter […]

ICICI Bank focusing on digital

Reported by | Updated: June 30, 2016

ICICI Bank is planning to have a chief technology and digital officer to handle digital strategies of the bank, including experiments in blockchain. According to Chanda Kochhar, MD and CEO of the bank, quoted in news reports, the bank will also be forming a ‘Technology and Digital Group’ (TDG), which will help it develop its […]