Infosys Ltd Subsidiary Finacle and R3, which is a blockchain software firm, today has announced that they have collaborated on blockchain solutions.

This new collaboration will help the banks to access and deploy the Finacle Blockchain solutions on Corda, which is R3’s open source platform.

“Banks will now have easy access to best-in-class blockchain solutions via Corda, enabling them to create efficiencies, save costs and mitigate risk. “We are pleased to welcome Infosys Finacle to our rapidly growing partner network and look forward to working with them,” R3 CEO David E Rutter said in a statement here.

The blockchain is also poised to help the banks in automating their inter organizational process to drive the unprecedented efficiencies and for customer value as well, said the Infosys Finacle CBO in a report.

“At Finacle, we are pioneering several blockchains- based solutions to help drive progress in the industry. We are happy to partner with Corda in this journey,” he said.

Finacle as of now has two options which is available on Corda platform Finacle Trade connect and Finacle Payments Connect. This new solution will help the bank automate the payments processing within their corresponding banking relationship.

Banks can also use these solutions to build up an intra-group network along with their international clients and subsidiaries.

With the help of this partnership, these solutions will be going to be available on the Corda platform. As this will enable the various regional networks currently operating on the Corda platform to use the Finacle solutions for the seamless collaboration and interactions.

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