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Mizuho, Cognizant to develop distributed ledger solution for trade finance

Thursday 27 April 2017 | 10:18 AM CET

Cognizant has been selected by Mizuho Financial Group to develop a distributed ledger solution to make trade finance more efficient and secure.

Corda, the distributed ledger platform developed by R3, will be used by Cognizant to digitize trade documents such as letters of credit and bills of lading. Therefore, Mizuho and its customers will be able to explore the use of distributed ledger technology to reduce fraud, delays and other business risks arising from costly paperwork, and provide enhanced visibility to all parties involved in the trade and transport value chain.

The partnership marks the expansion of a strategic alliance between Mizuho Financial Group and Cognizant to leverage distributed ledger technology for building new work processes to make transactions and digital interactions more secure, efficient and cost-effective, thereby delivering superior experience to customers.

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