18 June 2018
Visit www.avoka.com

Thailand's KBank and IBM team on blockchain project

11 November 2016  |  8714 views  |  0 IBM Logo

Thailand's Kasikornbank Public Company Limited (KBank), has enlisted IBM to help it build a blockchain network designed to reduce complexity in its corporate credit business.

Using IBM's Bluemix cloud platform, the bank plans to create a blockchain business network which will allow credit requestors, credit beneficiaries and KBank to fast-track traditionally lengthy procedures such as Letters of Guarantee for clients.

Working with IBM's Bluemix Garage team in Singapore, KBank is aiming to provide a system that collects customer information and associated credit application data in the cloud for posting on an immutable network, replacing the manual process of posting records and validating applications.

The plan is to start using the technology in the first half of next year, while KBank is also talking to its Thai counterparts about the possibility of sharing the blockchain network.

Somkid Jiranuntarat, vice chairman, Kasikornbank Business Technology Group, says: "The new technology is used for an original document certification service as part of the bank’s pilot project using the blockchain infrastructure built on the Hyperledger Fabric. It has been designed for applications in diverse organisations with a common standard, swift service and the unique features of private blockchain."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SBI Securities and IBM test blockchain for bond trading system

SBI Securities and IBM test blockchain for bond trading system

21 October 2016  |  9433 views  |  0 comments | 9 tweets | 5 linkedin
IBM and China UnionPay apply the blockchain to loyalty bonus point exchange

IBM and China UnionPay apply the blockchain to loyalty bonus point exchange

23 September 2016  |  11614 views  |  0 comments | 11 tweets | 5 linkedin
IBM to open first 'Centre for Blockchain Innovation' in Singapore

IBM to open first 'Centre for Blockchain Innovation' in Singapore

12 July 2016  |  8854 views  |  0 comments | 20 tweets | 21 linkedin
IBM makes blockchain cloud play

IBM makes blockchain cloud play

29 April 2016  |  13581 views  |  0 comments | 26 tweets | 24 linkedin
Kasikornbank to shutdown for two-day tech upgrade

Kasikornbank to shutdown for two-day tech upgrade

15 June 2015  |  5794 views  |  1 comments | 7 tweets | 5 linkedin
IBM in talks with central banks about blockchain adoption - Reuters

IBM in talks with central banks about blockchain adoption - Reuters

13 March 2015  |  20509 views  |  0 comments | 27 tweets | 15 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit equensworldline.comVisit https://info.nice.com/Visit http://go.jumio.com/finextraAd

Who is commenting?

A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: Monzo launches bill tr...
A Finextra member Finextra Member Commented on: NatWest taps Open Bank...
A Finextra member Finextra Member Commented on: HSBC promises $17bn in...

Top topics

Most viewed Most shared
10,000 jobs could be lost to robots says Citi10,000 jobs could be lost to robots says C...
48533 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10120 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9229 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8144 views comments | 8 tweets | 21 linkedin
NatWest taps Open Banking for cardless online paymentsNatWest taps Open Banking for cardless onl...
7982 views 11 comments | 12 tweets | 12 linkedin

Featured job

Basic c Euro 120K, Variable Euro 120K - full ben...
Paris prefered London possible

Find your next job