Infosys in talks with banks for adopting blockchain

Announcements | June 3, 2016 By:

Infosys’ EdgeVerve Systems is in initial talks with banks to adopt the blockchain technology.

EdgeVerve announced that it is taking its initial steps in banking sector to adopt blockchain technology. Associate VP and head of Finacle product strategy in EdgeVerve, Rajashekara V Maiya, talking about this initiative said that, “We are in initial stage of talks with global banking majors and it would prove fruitful.”

“It will greatly help cut costs for banks if they can do away with the transaction fees and associated costs with normal remittances, ATM transactions, cheque clearance, etc,” he adds.

Infosys’ EdgeVerve Systems is a product subsidiary of Infosys that offers the Infosys Finacle universal banking solution suite.