iGTB and R3 join forces for blockchain-based fintech platform
Intellect Global Transaction Banking (iGTB), the transaction banking division of India-based tech firm Intellect Design Arena, has joined enterprise software firm R3’s collaborative initiative to develop blockchain-based offerings for banks and financial organisations on its flagship Corda platform.
iGTB says it “is exploring the development of scalable, commercially viable solutions on Corda in three mainstream areas: trade finance/supply chain finance, payments and cash management (PCM) and central banking.”
Manish Maakan, CEO of iGTB, says the two parties will look to explore how Corda, combined with the iGTB tech, “can remove trade/supply-chain bottlenecks in corporate sales enablement, by helping companies increase their sales as well as market share in hugely competitive domestic and offshore markets”.
David E. Rutter, CEO of R3, believes “iGTB is ideally placed to develop solutions across cash management, payments, trade and supply chain finance on Corda”.