Chief financial officers are betting big on new technology and data solutions including blockchain, according to a new survey from international auditing firm Grant Thornton LLP’s 2019 CFO Survey.
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As JPM Coin launches, Citi reflects on decision to cancel Citicoin
JPMorgan’s Ethereum-based digital currency has competition from IBM Blockchain World Wire’s Stellar-based stablecoin platform
In the wake of JPMorgan’s February launch of its Ethereum-based JPM Coin digital currency, Citi let it be known why it had killed the Citicoin project its innovation lab discussed—but never formally announced—back in 2015.
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R3/SWIFT deal threatens to bring back an old conflict
Partnership still won’t bring DLT’s decentralization to the decades-old industry
Enterprise blockchain provider R3 will partner with SWIFT, the service banks have long used to process secure interbank payments, to bring distributed ledger technology to the most powerful middleman in the financial world..
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Financial institutions fighting money laundering warm to blockchain technology
Storing Know Your Customer data on a secure blockchain can simplify an expensive and frustrating legal process
Enterprise blockchain software firm R3 recently completed a proof of concept test of its Know Your Customer (KYC) application built on its Corda blockchain platform, French financial institution RCI Bank and Services announced on Dec. 3. KYC requirements are part of the due diligence needed to meet Anti-Money Laundering (AML) regulations, an important but time- and money-consuming process used in the financial industry. Twenty-six firms participated in the test of CordaKYC, including insurer Allianz France and banks BNP Paribas and Societe Generale. In June, R3 announced that a group of 39 firms in 19 countries, including Deutsche Bank, ABN AMRO, and the Federal Reserve Bank of Boston completed KYC transactions…
