Cross Borders Payments Proof of Concept from D+H and Rabobank
DH Corporation, technological solutions provider to financial institutions, and international financial service provider Rabobank have announced the execution of a proof of concept that has shown that D+H’s payments services hub, together with Coin Sciences’ multichain blockchain solution, is able to execute cross-border payments in near real-time for banks, using distributed ledger technology. This enables the ability to send funds to any of the bank’s closed user group members and allows both payer and payee bank to agree to the payment before it is committed, preventing non-settlements or rejections after payment processing.
In addition to cross-border payments, Rabobank is investigating the use of blockchain for other ongoing projects, including payments through the Internet of Things, Know-Your-Customer registration and trade finance documents. Rabobank is a partner of blockchain accelerator Nexuslab, and works together with startups and corporates to find new business models to ultimately improve its customers’ experience.