Inter-bank borrowing typically involves significant manual processing across multiple internal and external stakeholders. Starting from collateral asset list identification, bidding and negotiation of assets with lenders, and the maintenance of payment schedules till repayment, intense tracking is required, causing operational inefficiencies and impact to the core business with delays in deal finalization timelines with lenders.   

Blockchain technology can help banks in re-imagining the existing business process effectively to bring in automation and simplification. With its unique combination of off-chain and on-chain services, the Smart solution for Inter-bank ledgers provides seamless integration with bank's existing systems, while operational aspects such as asset sharing, compliance approvals and lender query resolutions, are simplified through the use of DLT. The solution provides a real-time view of assets, deal status as well as re-payment schedules, with the decentralized architecture enabling the bank to securely negotiate deals with multiple counterparties simultaneously, ensuring faster deal closure. All interactions are captured in the audit trail and can be viewed both by the Lender and the Borrower thus ensuring greater transparency. Quartz automates and re-defines the way inter-bank borrowings are currently managed, paving the way for business expansion through the onboarding of additional banks into the ecosystem.

Benefits

  • Real-time exchange and availability of information for all the participating banks in the ecosystem
  • Reduced reconciliation and manual intervention  
  • Reduced turnaround time due to automation of manual processes 
  • Effective integration with SWIFT for payments and external systems for AML checks and other similar external systems
  • The solution’s off-chain and on-chain design ensures data privacy for internal processes for the participating banks

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