Deloitte has revealed that it has integrated with Stellar, financial platform developers, to build a cross-border payments application. Designed to serve two customer segments, consumers and businesses, the Deloitte Digital Bank launched at the Consensus conference in New York in May 2016 and is now available to power instant payments across borders.
Consumers can use the Deloitte Digital Bank mobile application, which is available on iOS. With the mobile app, users create an account by scanning their driver’s license and can make instant peer-to-peer payments. Businesses instead access the Digital Bank through a web portal. The B2B product supports all of the features business payments require, including invoice tracking and reference numbers. All transactions resolve in around 5 seconds.