Blockchain Technology Integrated To Finex Digital Banking Platform

Blockchain, News | June 11, 2018 By:

FinTech firm Finex Solutions has integrated blockchain technology into its omni-channel digital banking platform.

Founded by digital banking and IT technology experts, Finex Solutions is a company specializing in innovative digital banking solutions. The company claims that its FINEX Excellence Digital Banking solution enables banks to become market leaders in digital banking. It is an omni-channel solution that fully supports Internet, tablet, and mobile banking, offering seamless cross channel customer journeys.

Finex said the blockchain integration will allow the company to provide a more efficient, secure, and cost-efficient processing of transactions. The natively integrated blockchain technology supports the execution of application processes and instructions initiated by bank customers or bank employees, and the processing of 4-eye verification on instructions.

Blockchain is also utilized for more efficient and secure processing of immediate payments, such as international payments within banks groups. The company utilized Hyperledger, the blockchain platform launched by the Linux Foundation, for implementing blockchain-based distributed ledgers.

Gabor Blasko, Senior Partner at Finex Solutions, said that integrating blockchain technology into the company’s omni-channel platform can provide a range of tangible benefits for financial institutions.

“After identifying a variety of use cases of blockchain technology, we decided to further investigate the usage of this innovative technology to enhance our digital banking platform,” Blasko said. “The initial proof-of concept showed us that blockchain can help us provide a higher level of security, and can also enable a range of benefits, such as the immediate processing of payments within bank groups. After the successful proof-of concept, we decided to integrate blockchain to our digital banking platform, and roll out this capability for our existing and future clients.”