Successful launch of Finledger – German banks to test debt-to-slip platform

the announced A merger of Helaba, DekaBank, dwpbank and the DZ Bank this week the successful first Test of its Blockchain-a platform Finledger. This allows the banks to fully automate the issuance and management of debt seem. Now the platform should come first in a second test run is used. In the future, the banks intend to establish the technology in the industry.

By David Barkhausen
22. May 2019BTC$7.866,00 -0.87%part Facebook Twitter LinkedIn xing mail

like Who seem to is looking to the financial news, the it, as it would be mainly the international Market variables, such as J. P. Morgan, or UBS, which will bring Distributed Ledger solutions in your business. That the Blockchain technologies are, however, also in this country, and especially in the case of smaller money houses on the rise, shows the platform Finledger, a merger of several German banks.

As the Hessische Landesbank, Helaba, Deka Bank, dwpbank and DZ BANK this Tuesday, the 21. May, in a press release to announce, is now the successful launch of their joint Blockchain project Finledger succeeded. The platform enables the banks the fully automatic issuing and management of loans by using promissory notes.

In a pilot attempt, the four Banks have brought this now for the first time, internal. Meanwhile, a contented conclusion for the future introduction of the technology. So the Blockchain could be put to use after the presentation of the banks, the administrative burden of the paper based promissory note business, on the one hand, down by half. On the other hand, the decentralised automation of processing is to overcome deficiencies in the currently manual process.

Marion Spielmann of the DekaBank, the investment firm of German savings banks, is convinced of Finledger:

The possibilities opened up by the use of a Blockchain, to lift the product promissory notes to a whole new level. This is a very good example of how digitization efficiencies can lift over all the process chains and, at the same time, the attractiveness of a product improves.

Finledger to. industry-wide Standard create

As it says in the press release further, it paves the successful completion of this first test phase, is now the way for a second trial run Debt to external customers notes this time are also offered outside of the joint working group.

to Succeed in this Pilot also do not want to Helaba & co. Finledger bring then only in their own day to day business use. In the future, the platform should be also other credit institutions and the technology industry to achieve a breakthrough.

We address our offer not only to the customers of the banks involved, but the platform can be set in the future of the entire industry. So Finledger sets seem to be a completely new market standard for the processing of traded debt,

Peter Tenbohlen, head of the Operations Department at DZ Bank, the Central institution of the Volksbanken summarizes the Vision behind Finledger.

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