Be it for treasury reconciliation or lower-cost transactions, blockchain technology helps achieve new levels of back-office efficiency within financial institutions. Loans and mortgages can be put on autopilot using smart contracts. Complex processes such as international letters of credit for small and medium trading firms can be de-layered and disintermediated. Payments systems can be transformed and enhanced.

“Partnering with R3 is a significant step for Blanc Labs in providing enterprise-grade blockchain solutions and digitizing Customer Journeys,” said Hamid Akbari, CEO, Blanc Labs. “There is a growing interest and a real demand from our clients to help understand the implications of blockchain, and we’re committed to helping bring this emerging technology from proof-of-concept to commercial implementation.”