DLT-enabled solution for faster and safer payment processing
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TCS Quartz provides foundational technology, tools, and business components for creating distributed ledger solutions across varied industries.
The Quartz suite of solutions are architected for co-existence, integration, and interoperability, enabling customers to assimilate DLT into their businesses seamlessly.
Cross-border payments or any remittance using traditional rails is a multistep process involving many intermediaries. Each step is time consuming and could potentially have security loopholes. Additionally, due to multiple hops and middlemen, the cost per transaction remains high. This demands for a more secure, efficient, and inexpensive payments process, be it fiat or digital currencies.
Blockchain ensured decentralized, immutable, and secure operations for organizations and helped streamline the entire process by cutting out any and all middlemen and lengthy procedures, thereby saving time. With this improved efficiency, remittances are instantaneous, and the fundamentally secure distributed ledgers technology (DLT) ensures the data is safe. With the additional feature of immutability, the transactions can’t be reversed or changed, making it more transparent and a trusted source of information.
Quartz Smart solutions for banking and payments include: