Sberbank and Swift ink MoU

Source: Sberbank

During Sibos 2017, Sberbank and Swift signed a memorandum of cooperation regarding the development and piloting of high-tech products created and promoted by Swift.

The parties agreed to coordinate steps to assess the potential application of blockchain technology in interbank settlement platforms. In particular, Sberbank joined the international group of financial institutions testing the prototype of SWIFT’s DLT (Distributed Ledger Technology) platform, which has been developed as part of SWIFT gpi (Global Payments Innovations). This platform takes advantage of the capabilities offered by a blockchain-based distributed register to verify payment information in real time.

In addition, Sberbank plans to assess the potential of using the SWIFT AMH (Alliance Messaging Hub) system as a technological solution to facilitate the centralisation and optimisation of processing Sberbank Group’s internal and external payment flows and other financial transactions.

Sibos is an annual event organised by SWIFT that features conferences, presentations, panel discussions and exhibits. Sibos is attended by shareholders, members of the SWIFT community, national associations and partners. The event aims to discuss the most relevant issues facing the SWIFT community. 

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