IBM launches Blockchain-based global payment network, to support real time settlement in more than 50 countries.

IBM World Wire

Global technology giant IBM has announced IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions, is officially accessible in a growing number of markets. Designed to optimize and accelerate foreign exchange, cross border payments and remittances, World Wire is the first blockchain network of its kind to […]

HCL Technologies and IBM Collaborate to Accelerate Clients’ Hybrid Cloud Journey

HCL Technologies (HCL), a global technology company announced a collaboration with IBM designed to help advance the hybrid cloud journeys of organizations worldwide. HCL announced new re-platforming and refactoring services to enable enterprises to build and migrate applications to IBM Cloud Private from within the company’s HCL Cloud Native Labs. The […]

L&T Infotech and ACORD announce collaboration to drive Digital Adoption in the Insurance industry.

Safety

Larsen & Toubro Infotech, a global technology consulting and digital solutions company, and ACORD, the global data standards-setting body for the insurance industry, expanded their long-standing alliance to develop a comprehensive set of digital standards & solutions for the Insurance industry. These digital standards and reference architectures will enable microservices-powered […]

Chevron, Total and India’s Reliance Industries join Blockchain-based oil trading platform.

World’s leading oil marketers, including Total, Chevron and Reliance Industry have joined London-based blockchain oil trading platform named Vakt. Launched in November 2018, the BFOET (Brent, Forties, Oseberg, Ekofisk and Troll) crude oil market, the VAKT platform manages physical energy transactions from trade entry to final settlement, eliminating reconciliation and paper-based processes. […]

Artificial Intelligence tech enables EarlySalary to lend instantly within 10 minutes.

EarlySalary Fintech

Gone are the days when lending used to be a month-long monotonous process. New-age digital lenders like EarlySalary are banking on Artificial Intelligence and Machine Learning (AI/ML) based processes for instant and paperless approvals. With its AI enabled tech backbone, EarlySalary makes loan approvals easy and quick along with reducing […]

Tez is now Pay. Google’s UPI based payment app offers instant bank loan.

When PM Modi launched BHIM app which offers seamless fund transfers through UPI, global IT giants like Whatsapp and Google were quick to join the payment scenario. Google’s Tez became the most used UPI app beating BHIM. And this miracle happened as Google was paying Rs 51 for every first […]

Telangana partners with Tech Mahindra to build Blockchain District.

Blockchain in India

The Telangana State Information Technology, Electronics and Communication department (ITE&C) has signed a Memorandum of Understanding with the global digital technology provider Tech Mahindra to Launch India’s first Blockchain District in the state of Telangana. The popularity of blockchain has moved from cryptocurrency to business applications across many industries such as […]

Trading in Bitcoin, Ethereum or any other crypto-currencies is illegal in India

Bitcoin is not a legal currency in India

Bitcoin or any other crypto-currency are not legal or lawful tender in India. Investors should stay away from investing as the transaction is not backed by any asset. Arun Jaitley, India’s Ministry of Finance has given a statement in RajyaSabha. BitCoin is a virtual crypto-currency invented by Satoshi Nakamoto. In […]

RBI lowers card transaction rate for small businesses to boost digital payments

RBI MDR Digital Payments

FinTech companies welcome RBI’s decision to lower Merchant Discount Rate Digital payments are expected to reach new horizons with good news from India’s Reserve Bank of India. RBI has decided to low Merchant Discount Rate for small and medium businesses in India. Politicians and RBI shifted its goal posts to […]

Indian banks to use blockchain tech for smart contracts and KYC

IBM World Wire

With the growth of Bitcoin, it’s associated technology, blockchain has quickly become a next-big-thing in the world of finance. Major financial institutions have given a go-ahead for using blockchain technology to simplify or automate existing systems. The Institute of Development and Research in Banking and Technology with its research papers […]