Raiffeisen Bank completed a series of pilot transactions via Masterchain platform
28.12.2018
Gazprom Neft, a client of Raiffeisenbank, performed as the beneficiary of the digital bank guarantee issued by Ak Bars during testing. Using the Digital Bank Guarantees (DBG) system installed on the Masterchain platform at Raiffeisenbank, Gazprom Neft managed to obtain guarantee via digital account. The access to the DGB system was provided by special e-signatures.
The integration of data into distributed ledger system Masterchain enables customers to receive valid and relevant information on every guarantee operation, where they perform as participants. Thus, the inclusion of data on digital bank guarantee into distributed ledger verifies the papers issuing, signed by authorized person.
Raiffeisen Bank also carried out pilot transactions with corporate clients - IT-company CROC and its business partner CROC Region, which audited the system functionality with regard to principal and beneficiary parties.
“Digitalization is a pillar of our business development and corporate strategy,” said Dmitry Sredin, Head of Large Corporate Clients division at Raiffeisen Bank. - “We maintain a dialogue with customers, being mindful of their needs. Owing to our joint participation in pilot deals, we managed to trial the blockchain technology in trade financing, and to review our customers' expectations simultaneously.” - he added.
“Digital Bank Guarantee system will allow banks to offer their clients best services for issuing bank guarantees, signifivantly facilitating the process of guarantee execution, mitigating the risks of documentary counterfeit. The Fintech Association expects other parties to join the project, ”said Tatiana Zharkova, Managing Director of the FinTech Association.
Source: Raiffeisen Bank
ID: 6170
Raiffeisen Bank completed a series of pilot transactions via Masterchain platform
The FinTech Association launched the Digital Bank Guarantee system (DBG) based on the Masterchain platform founded by the Association in cooperation with the Central Bank of Russia and other leading financial institutions, including Raiffeisen Bank as well as Ak Bars Bank.Gazprom Neft, a client of Raiffeisenbank, performed as the beneficiary of the digital bank guarantee issued by Ak Bars during testing. Using the Digital Bank Guarantees (DBG) system installed on the Masterchain platform at Raiffeisenbank, Gazprom Neft managed to obtain guarantee via digital account. The access to the DGB system was provided by special e-signatures.
The integration of data into distributed ledger system Masterchain enables customers to receive valid and relevant information on every guarantee operation, where they perform as participants. Thus, the inclusion of data on digital bank guarantee into distributed ledger verifies the papers issuing, signed by authorized person.
Raiffeisen Bank also carried out pilot transactions with corporate clients - IT-company CROC and its business partner CROC Region, which audited the system functionality with regard to principal and beneficiary parties.
“Digitalization is a pillar of our business development and corporate strategy,” said Dmitry Sredin, Head of Large Corporate Clients division at Raiffeisen Bank. - “We maintain a dialogue with customers, being mindful of their needs. Owing to our joint participation in pilot deals, we managed to trial the blockchain technology in trade financing, and to review our customers' expectations simultaneously.” - he added.
“Digital Bank Guarantee system will allow banks to offer their clients best services for issuing bank guarantees, signifivantly facilitating the process of guarantee execution, mitigating the risks of documentary counterfeit. The Fintech Association expects other parties to join the project, ”said Tatiana Zharkova, Managing Director of the FinTech Association.
Source: Raiffeisen Bank
ID: 6170