This partnership will enable banks to easily access and deploy Finacles blockchain solutions on Corda, R3s open-source blockchain platform, a company statement said. Finacle will initially have two solutions available on Corda platform Finacle Trade Connect and Finacle Payments Connect, according to a statement.
Finacle Trade Connect is a blockchain-based trade finance solution that connects banks, trade partners and corporates on a unified distributed network. It supports a full suite of trade and supply chain finance products such as Open Account, Letter of Credit, Invoice Financing, Bills Collection, PO Financing, Bank Guarantees and Packing Credit.
Finacle Payments Connect is a blockchain-based solution that enables real-time payments processing on a permissioned payments network, it said. The solution helps banks automate payments processing within their corresponding banking relationships, it added.
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