EdgeVerve Blockchain Framework for Financial Services
Blockchain is arguably the greatest disruptor to the global financial system in a generation. While many technologies have changed banking, few have fundamentally challenged the operating principles underlying banking transactions and book keeping.
The underlying technology is complex, but what the blockchain can do for the banking and financial services industry is simple. Blockchain enables secure, peer-to-peer transactions that can be verified without any centralized authority. This distributed ledger technology is of special interest to the banking industry when it is deployed in a permissioned network. It can deliver multiple benefits such as -
- Faster processing that powers swift banking experience to the end consumer
- Lowers costs and less complexity in business processes and operations
- Creates avenues for new business models
The EdgeVerve Blockchain Framework for Financial Services is a permissioned ledger that allows banks to rapidly deploy blockchain-based services for varied business areas. It is:
Distributed and permissioned – The framework uses blockchain in a distributed, permissioned environment. It is best suited for minimizing operating and per-transaction costs for financial services companies, while improving data openness and sharing, without compromising data integrity and security
Asset agnostic – Financial institutions can process business across multiple assets leveraging this framework, thereby enabling them to store and transfer a variety of transaction assets within a single network
Highly extensible – The framework includes an API layer that supports extensibility and administrative tools. Banks can develop and rapidly deploy their own custom blockchain solutions along with the framework and scale solutions to meet national and international banking demands
Infosys Finacle invites you to participate and collaborate with us to jointly build business services which can be used to lay the foundations of the next generation banking ecosystem. Begin your blockchain journey and co-create with us. The next-generation banking ecosystem awaits our partnership.