Contact Us
We're taking you to another TCS website now.

SUCCESS STORY

ABN AMRO & TCS Explore Blockchain Technology

TCS builds proof-of-concept (PoC) for bank’s clearing and settlements services.

 
Client
ABN AMRO Clearing (AAC)
Industry
Financial Services
Services
Blockchain

Challenge

ABN AMRO Clearing (AAC) sought to experiment and learn the potential of blockchain technology.

Blockchain technology has made significant inroads into the financial sector, which prompted AAC to conduct their own assessment of the applications of this new technology across multiple business areas. AAC needed a clear picture about its potential, opportunities, and the probable disruptions to prevalent business models. Towards this goal, they planned an experimental system to achieve disintermediated, peer-to-peer delivery versus payment settlement integrated with existing legacy systems.

Picture

Solution

TCS builds blockchain proof-of-concept platform and Web applications for banking needs.

This experiment with TCS gave valuable additional insights on integration of legacy with blockchain.”

Arjan van OS, Head of Innovation Centre, ABN AMRO BankTCS partnered with AAC as a thought leader to study and evaluate use cases and conduct workshops on blockchain innovation.

The joint PoC allowed AAC to experiment the issue and transfer of securities and tokenized cash balances in a distributed ledger between issuers, clearing banks, and investors.

TCS’ blockchain research enhanced AAC’s understanding of the role of blockchain technology in financial services.

We created a sandbox environment linking processing nodes across AAC and TCS environments, representing various business stakeholders. We developed a standalone Web application to simulate the actions of various players and smart contracts to handle complex business rules. To enable straight-through-processing between AAC’s back office system and blockchain, our team developed message converters to transform ISO15022 messages to blockchain API calls and vice versa. An integration layer connected the back office system with the blockchain-based ledger synchronously. 

Benefits

TCS demonstrates blockchain at work, unpacks intricacies of the technology.

AAC applied distributed ledgers for straight-through-processing of multi-party securities settlements, evaluated disintermediated transactions, and gained insights into blockchain integration, cryptographic key handling, and smart contracts.

What's your challenge?
Let’s work together to solve it.
More Like This