Infosys Finacle Pioneers Blockchain-based Trade Network in India in Consortium with Seven Leading Banks
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the successful formation of India Trade Connect, a blockchain-based trade network in India, in partnership with Axis Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank and Yes Bank.
The network is being used by the banks to run a successful pilot of Finacle Trade Connect, a blockchain technology based solution developed specifically to address the trade finance process requirements of banks. Finacle Trade Connect will enable increased automation and transparency, while helping efficiently manage risks in trade and supply chain financing operations.
India Trade Connect has also been adjudged as the winner of the prestigious Celent Model Bank 2018 award for Trade Finance and Supply Chain, affirming the potential of this network.
