• Sun, 17 Feb 2019, 04:40 PM
  • All times are UTC
  • Edition:
Link copied

GM Financial teams up with blockchain startup Spring Labs

Tue, 12 Feb 2019, 03:32 am UTC

General Motors Financial Company, the financial services arm of General Motors, has entered into a partnership with blockchain startup Spring Labs.

Founded in 2017, Spring Labs raised $14.75 million in seed funding in March 2018. It is developing Spring Protocol, a blockchain-based network that will allow network participants to exchange valuable information without sharing underlying source data.

Spring Labs explains that the Spring Protocol will mitigate the need for data aggregators and allow network participants to exchange information securely and anonymously in a peer-to-peer (p2p) manner.

GM Financial will join the Spring Founding Industry Partners (SFIP) Program to collaborate with other financial institutions, data furnishers and technology partners on research, development and implementation of Spring Protocol ahead of its public launch.

According to the official release, the SFIP Program will help drive improved data management standards to help address critical auto finance industry issues like identity verification and synthetic identity fraud. Program participants include Avant, Funding Circle, Fundation, Fundbox and others.

“As the captive finance arm for General Motors and one of the world’s largest auto finance providers, we are continually innovating and evolving our fraud prevention and detection capabilities to better serve and protect our customers and dealers,” said Mike Kanarios, Chief Strategy Officer at GM Financial.

“Today’s announcement underscores our commitment and investment to advance these efforts, and we are pleased to collaborate with Spring Labs as a member of the SFIP program.”

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $3,626.73 (-0.24%)
  • Ethereum (ETH) $126.51 (+2.45%)
  • XRP (XRP) $0.300200 (-0.72%)
  • Litecoin (LTC) $43.32 (-1.17%)
  • EOS (EOS) $2.82 (-0.88%)
  • Bitcoin (BTC) $3,626.73 (-0.24%)
Feb 15, 2019 (Friday)
Dutch firm ElaadNL taps IOTA technology for autonomous smart grid PoC
Rabobank pumps ‎€80M into venture fund to drive fintech and agtech investments
Enterprise Ethereum Alliance to launch token task force in 2019
BitTorrent unveils new payment card for BTT tokens
Luxembourg lawmakers pass blockchain bill into law
Canadian crypto exchange Coinsquare acquires StellarX
JP Morgan reveals key details of Quorum Blockchain-based JPM Coin
Samsung SDS develops blockchain accelerator technology to enhance transaction processing speed
Feb 14, 2019 (Thursday)
JP Morgan to trial own cryptocurrency ‘JPM Coin’ for instant client payments: Report
Intel announces new product to accelerate blockchain deployment
Huobi Wallet adds support for Japanese and Korean languages
US CFTC includes cryptocurrencies in 2019 examination priorities
Nasdaq to launch Brave New Coin Bitcoin and Ethereum indices on February 25
Italian interbank blockchain project enters pre-production phase
Enterprise Ethereum Alliance opens regional office in China
UC Berkeley launches blockchain accelerator for early stage startups
Former JPMorgan Chase executive joins blockchain startup Vakt as CEO
Feb 13, 2019 (Wednesday)
New feature to enable Coinbase Wallet users to backup private keys on Google Drive and iCloud
Hyundai Commercial partners with IBM to create blockchain-based commercial financing platform
Gibraltar Blockchain Exchange lists ICNQ token on GBX-DAX
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.