Agency / Source: Infosys Technologies Ltd

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Infosys Finacle Partners Hatton National Bank to Pioneer Blockchain-Based Trade Finance in Sri Lanka - Infosys Finacle announced that Hatton National Bank (HNB) has selected Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network - HNB.net / Finacle.com / Infosys.com
Infosys Finacle Partners Hatton National Bank to Pioneer Blockchain-Based Trade Finance in Sri Lanka

 

PRZOOM - /newswire/ - Bengaluru, India, 2019/03/12 - Infosys Finacle announced that Hatton National Bank (HNB) has selected Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network - HNB.net / Finacle.com / Infosys.com. NYSE: INFY

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering IT Services/Network Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced that Hatton National Bank (HNB), a leading private sector commercial bank operating in Sri Lanka, has selected Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network. The Finacle Trade Connect solution will be used by HNB to pilot a trade network with other corresponding banking partners and its corporate clients. The network is expected to help HNB and other participating entities substantially increase automation and transparency, while efficiently managing risks in trade and supply chain financing operations.

• Finacle Trade Connect will help digitize trade finance business processes, including validation of ownership, certification of documents etc., while working on a distributed, trusted and shared network.
• Along with higher automation and increased transparency, banks will gain real-time availability of data for better decision making and creation of new business avenues
• Trade Connect supports a full suite of trade and supply chain finance products such as Open Account, Letter of Credit, Invoice Financing, Bills Collection, PO Financing and Bank Guarantees.
• Banks, buyers and sellers will be able to maintain a direct relationship on the Finacle Trade Connect powered network and connect with each other on digital channels.
• Further, the pilot network will allow for instant transfer of messages and documents between the parties involved in a completely secure manner reducing lifecycle turnaround time.
• Banks will be secure from technology evolution risks as the Finacle Trade Connect is agnostic to underlying blockchain infrastructure such as Hyper ledger, Corda, Ethereum and Bitcoin.

Quotes:

Sanat Rao, Chief Business Officer, Infosys Finacle, said,“Blockchain technology offers unprecedented opportunities to transform banking, with advantages increasing exponentially with increased collaboration. We have pioneered multiple solutions to help our clients take advantage of this emerging technology to realize real business benefits. We are excited to collaborate with HNB in this promising journey and look forward to more partners joining the network.”

Alenka Grealish, Senior Analyst, Celent, said,“Critical to blockchain’s achieving economic viability is scalability. The addition of a new client using Finacle Trade Connect is a promising sign. Early this year, Celent recognized the India Trade Connect, a blockchain-based domestic trade finance platform powered by Finacle Trade Connect, with the 2018 Model Bank award. The India Trade Connect consortium recognized that they needed a strong tech partner to provide the ecosystem infrastructure.”

About Hatton National Bank
HNB (hnb.net) was recognised by the prestigious Banker Magazine as one of the Top 1000 banks in the world and is also the highest ranked local bank in this listing. Over the recent past, HNB has also been adjudged Best Retail Bank 2018 by The Asian Banker Magazine in addition to being declared Best SME Bank, Best Digital Bank and the Best Cash Management Bank in Sri Lanka at the Asiamoney Awards 2018. HNB was also named by Euromoney as the Best Corporate Cash Management Bank in Sri Lanka for 2018, in addition to being awarded Best Retail Bank and Best Micro Finance Bank at the International Finance Awards 2018 and being ranked among the Most Admired Companies in Sri Lanka by the International Chamber of Commerce and Chartered Institute of Management Accountants (CIMA). HNB also stands as the highest ranked bank in Sri Lanka by LMD and Business Today magazines. HNB became the first Sri Lankan bank to obtain an international credit rating and was assigned a foreign currency issuer rating of B1 on par with the sovereign rating by Moody’s Investors Service, while it has a national long term rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

About Infosys Finacle
Finacle (finacle.com) is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.

Safe Harbor
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2017. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering IT Services/Network Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Infosys Technologies Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
IT Services/Network Management articles,
CATCH Visitors via Your Competitors Announcements!


Infosys Finacle Partners Hatton National Bank to Pioneer Blockchain-Based Trade Finance in Sri Lanka

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Hatton National Bank | Infosys Finacle
Contact: Press Office - Infosys.com 
pr_global[.]infosys.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Infosys Technologies Ltd securities in any jurisdiction including any other companies listed or named in this release.

IT Services/Network Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From Infosys Technologies Ltd / Company Profile


Read IT Services/Network Management Most Recent Related Press Releases:

Banqsoft Acquires Concent to Expand and Broaden its Market Position
Arista Delivers Production Multi-Cloud At High Scale with CloudEOS
Infinera Boosts Spectrum Capacity on West African MainOne Submarine Cable for Orange
IoT, Big Data Drive Recovery of Global Facility Management Revenues to Surpass Pre-pandemic Levels Say Frost & Sullivan
BostonGene and NEC Collaborate to Analyze Cancer Patients in Clinical Trials
NEC and SITA Announce Global Aviation Partnership Agreement to Deliver the Future of Digital Identity At Airports
NEC Provides Secure Document Management and Sharing Service 'Obbligato/Collaboration Platform' in China
Evolve IP Releases RECAP - AI Driven Speech Analytics and Voice Recording Platform for Microsoft Teams, Unified Communications and Contact Center
GÉANT Awards Infinera Contract to Deploy 600G Transmission Technology to Interconnect Pan-European Research and Education Community
Volterra Recognized by Frost & Sullivan for Innovation in Distributed Cloud

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit  JobsWare.com

Visit  RightITnow, Inc.

Visit  La Bella Bakery Artisan Bakery Arizona







 
  ©2020 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today