• Tue, 20 Aug 2019, 09:57 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

BNP Paribas, Natixis and Societe Generale to pilot Finastra’s DLT-based platform ‘Fusion LenderComm’

Tue, 14 May 2019, 10:40 am UTC

London-based fintech company Finastra has on-boarded three more banks on its blockchain-based platform, Fusion LenderComm.

Based on R3’s Corda Enterprise, Fusion LenderComm aims to transform and streamline the global syndicated loans market. It integrates directly into the overall technology stack at the banks and enables them to share relevant sensitive information directly from agent bank loan servicing platforms, such as Finastra’s Fusion Loan IQ, with lenders.

In its press release, Finastra said that it has signed BNP Paribas, Natixis and Societe Generale on the platform as part of a coordinated campaign. NatWest was the first bank to integrate with the platform.

“All of these banks were part of our Fusion LenderComm pilot and the momentum that the platform has seen since then is nothing short of extraordinary,” Grant Jones, VP, Fusion LenderComm, Finastra said.

“This is an historic step that brings leading global banks together on the platform in the live Fusion LenderComm environment, for seamless and secure information exchange. But more than that, this is an important inflection point, paving the way for the whole industry to come on board, achieving even further critical mass.”

Philippe Boulas, Global Head of Corporate Banking Operations at BNP Paribas, said that the bank has been supporting the project since the beginning as it prompts major industry players to work together and improve the service offered to borrower-clients in terms of “quality, reducing delay and costs.”

“With the creation of this community and a collaborative mindset we have a unique opportunity to tackle the operational pain points we have all been experiencing for years and that constrain syndicated loan market expansion,” he added.

Fusion LenderComm’s first phase focused on real-time position reporting between lenders, allowing all relevant parties to see their records at any time.

“R3 is proud to facilitate the use of blockchain technology to provide lenders with access to many aspects of their positions in real-time. This brings a significant increase in transparency and convenience during the entire portfolio lifecycle,” David E. Rutter, CEO of R3, said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,672.60 (-0.29%)
  • Ethereum (ETH) $196.87 (-1.88%)
  • XRP (XRP) $0.274400 (-4.30%)
  • Bitcoin Cash (BCH) $318.62 (-0.86%)
  • Litecoin (LTC) $75.83 (-2.69%)
  • Bitcoin (BTC) $10,672.60 (-0.29%)
Aug 20, 2019 (Tuesday)
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
New York court denies Bitfinex, Tether's lack of jurisdiction claim
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
Cybersecurity veteran David Damato joins crypto exchange Gemini
Deloitte unveils demonstrational platform for blockchain solutions
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
Philippines' central bank approves 2 new cryptocurrency exchanges
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
World Bank raises another $33M for Kangaroo bond via blockchain technology
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Silvergate Bank reveals plans to offer crypto-backed loans this year
Crypto Technicals: IOT/USD bias higher on intraday charts, 'Death Cross' and 21-EMA resistance likely to keep upside limited
Crypto Technicals: BTC/USD breaks above 55-EMA, scope for upside resumption
Binance seeks to empower countries to spur new currencies via new open blockchain project ‘Venus’
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.