DH Corporation (D+H) is a global provider of technology solutions for financial institutions globally. Its partnership with Rabobank on this PoC has shown that D+H’s payments services hub, together with Coin Sciences’ multichain blockchain solution, is able to execute cross-border payments in near real-time for the bank, using distributed ledger/blockchain technology.
Preliminary tests using D+H’s global payments services hub prove that Rabobank can execute payments across borders in near real-time using blockchain technology. The solution has been proven to successfully address three key areas such as: immediacy – the ability to complete end-to-end transactions in near-real-time, reachability – the ability to send funds to any of the bank’s closed user group members, and probability – the ability for both payer and payee bank to agree to the payment before it is committed, preventing non-settlements or rejections after payment processing.
Rabobank has been investigating blockchain since 2014 and sees this technology as a game changer for many financial use cases. In addition to cross-border payments, the bank is investigating the use of blockchain for other ongoing projects, including payments through the Internet of Things, Know-Your-Customer registration, trade finance documents, and more. Rabobank is a partner of blockchain accelerator Nexuslab, and works together with startups and corporates to find new business models to ultimately improve its customers’ experience.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now