Societe Generale partners with JP Morgan to develop a blockchain-based infrastructure
The idea came from a simple observation: the information that banks have is not always enough to approve a transfer as it stands. Cross-border payments can be a source of dissatisfaction if there is a lack of bilateral agreements between the various banks involved.
Getting the information from the right source is essential to improve processing times
By using blockchain, we can meet this need by connecting all the correspondent banks on the same platform. The information can be exchanged securely by the holder of the required data.
Building the networks of the future together
Faced with growing competition, in particular from fintechs, it is essential to offer simple, innovative solutions with real added value.
This partnership between several major international banks demonstrates our shared desire to offer an ever more connected and secure world based on technologies intended to better serve our customers.