EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), which offers the Infosys Finacle universal banking solution suite, today introduced its EdgeVerve Blockchain Framework designed to further the adoption of blockchain technology by the global financial services sector. The framework, introduced at the Infosys Confluence global client summit in San Francisco, has been developed to deliver value-generating solutions and technologies based on blockchain.
The EdgeVerve Blockchain Framework is a permissioned ledger that allows banks to rapidly deploy blockchain-based services for varied business areas. Designed specifically for the banking sector, it can scale to the levels needed to support international, cross-border transactional business. These capabilities make applications built on this framework a viable platform to run payments and other high volume transactional banking services. Blockchain-based applications, built on this framework, can deliver increased efficiencies, transactional security and accuracy at a lower cost than the existing high-cost ledger platforms that underpin the global banking systems.
Key Highlights of the EdgeVerve Blockchain Framework include:
As a leading financial services solutions provider, offering services in 92 countries and powering over one billion banking accounts, EdgeVerve is collaborating with several of the world’s leading financial institutions to build block-chain powered banking networks, products and services levering this framework. These include areas such as payments, trade finance, invoice processing, smart contracts, digital vaults and syndicated loans, among others.