Infosys to help banks approve loans faster? Check out this big blockchain drive
Banks around the world are rushing to adopt blockchain for cross-border trade finance transactions, touting the benefits of the digital ledger technology for both speeding up transactions and improving security. HSBC Holdings Plc recently completed a transaction which it said showed the technology was commercially viable for global trade finance.
Fourteen local banks have signed up for the India Trade Connect consortium, which hired the software firm Infosys Ltd. to develop a blockchain platform for loans that back trade transactions within India. Image source: Reuters