R3 CEV has partnered with Britain's financial watchdog and two large banks to develop a blockchain-based application to improve the regulatory reporting of mortgage transactions. The system, built using R3's Corda blockchain, enables banks to generate automated delivery receipts for the regulator each time a mortgage is booked. The organizations hope that it can reduce the cost of the process and the risk of error.
Up Next in Blockchain
The Bank of International Settlements (BIS) has published a new report that recommends the use of distributed ledger (blockchain) technology to help central banks replace their aging payment systems. Various central banks are already experimenting with applications of blockchain tech, including the Bank of Canada, the Central Bank of Brazil, the Monetary Authority of Singapore, and the Bank of England.
'End of Life Cycle': BIS Report Positions DLT as Needed Banking Update
SETL and four French fund managers are aiming to go into production in 2018 with a pan-European fund record-keeping platform based on blockchain technology. Designed to provide investors, asset management firms, distributors and wealth management advisers with straightforward access to fund units, the system manages KYC processes, handles subscription / redemption instructions, and settles transactions and record positions.
SETL Targets 2018 Launch For Blockchain-Based Fund Platform
Finextra Research - Finextra