Three French Global Banks Join R3 Corda Blockchain Platform

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The British financial software company Finastra has added three global banks to its own syndicated credit platform R3 Corda Blockchain. It was officially announced on May 14th.

Immediately Exchange Data

Three French banking institutions – BNP Paribas, Natixis and Société Générale – have officially joined the Finastra’s Fusion LenderComm platform after prototype testing in 2017.

Based on a report by R3 Corda Blockchain Enterprise, Finastra Fusion LenderComm immediately allows banks and lenders to exchange credit agreements, balance sheets, and position data.

Cecilia Bartenev, CEO of the French bank Société Générale, pointed out that the Fusion LenderComm initiative will ensure greater transparency and efficiency in the syndicated loan market. Adding that that is “an example of how blockchain technology can help banks optimize the flow of financial transactions.”

Other Partnerships

The UK bank NatWest integrated the Fusion LenderComm platform in October 2018.

Also, the popular Brazilian bank Banco Bradesco has joined the R3 Marco Polo blockchain network. Other member organizations are BNP Paribas, ING and Sumitomo Mitsui Banking Corporation.

Recently, Nordea, a Nordic private bank, has announced that it will expand its blockchain platform for small and medium-sized enterprises (SMEs). The platform aims to increase confidence in cross-border business with SMEs

About Corda

Founded in 2016, Corda is a open source blockchain platform. Corda removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security. From its inception, Corda was built specifically for business.

Because Corda was designed for production from the very start, companies with a relatively simple IT structure and network can go live on it. Also, Corda encourages our their developer community to contribute to, consume, and build on Corda open source.

About R3

R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 300 members and partners across multiple industries from both the private and public sectors. Corda is their open-source blockchain platform to which they invite their partners to develop on. Moreover, they also operate Corda Enterprise, a commercial version for enterprise usage.

Source:

https://kripto.media/tris-francijas-bankas-ir-pievienojusas-kreditu-platformai-r3-corda-blockchain/
https://www.r3.com/about/
https://www.r3.com/corda-platform/

Photo by Floriane Vita on Unsplash