Finacle Payments Connect is a blockchain-based solution to digitize and automate international payments operations among corresponding banking relationships. The solution is designed to help banks compete effectively with new-age digital providers and retain primacy in payments. Finacle Payments Connect minimizes complexity and cost, by bringing all corresponding partners on a common unified, trusted, distributed ledger-based ecosystem.
The solution is available for a range of functions, including Pre-funding, Nostro-based, Tokenized value transfer and Agency banking.
Learn how the market leading banks – ICICI Bank, the largest private sector bank in India and Emirates NBD, the largest bank in the UAE, powered end-to-end cross border payments in 36 seconds across the India-UAE payments corridor, the biggest corridors in the world for international remittances.
“Our pilot project with Infosys Finacle and ICICI Bank, a first for the banking sector in the UAE, demonstrates blockchain’ s immense potential to change how organizations and governments conduct business.”
His Highness Shaikh Ahmed bin Saeed Al Maktoum, Chairman, Emirates NBD
“We have also marked a milestone by piloting a blockchain network with Emirates NBD and Infosys Finacle as partners and have successfully executed cross-border open account trade finance and remittance transactions. I envision that the emerging technology of blockchain will play a significant role in banking in the coming years by making complex bilateral and multilateral banking transactions seamless, quick and more secure.”
Ms. Chanda Kochhar, Former Managing Director &
Chief Executive Officer, ICICI Bank
ICICI Bank, a leading bank in India, has set up captive networks with its international subsidiaries and offers “landing hubs” to partner banks and exchange houses enabling them to fulfil payment transactions on the permissioned blockchain network even in countries where they do not have a presence.
The solutions dedicated agency banking module helps easily onboard partners and execute on-behalf payments for their clients efficiently in real-time.
Finacle Payments Connect is completely agnostic to the underlying distributed ledger technology and works with all the major platforms, including Corda, Bitcoin, Hyperledger an
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ICICI Bank and Emirates NBD partnered with Infosys Finacle to pilot the first blockchain-based network for international remittances and trade fina
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