BlockchainFinancial Services

KBank and IBM Develop Letter of Guarantee Service on Blockchain

IBM Corporation logo. (PRNewsFoto/IBM Corporation)

IBM and KASIKORNBANK Public Company Limited (KBank), one of Thailand’s largest banks, have announced the launch of a new enterprise Letter of Guarantee network based on IBM Blockchain. The new solution is designed to help simplify and expedite procedures for KBank’s Letter of Guarantee process, with the goal of improving the customer experience, strengthening security and reducing costs for clients and the bank.

With a more digitized, streamlined and transparent process enabled by blockchain, KBank’s enterprise Letter of Guarantee solution is completely paperless. The transparency provided by blockchain can help eliminate forgery and provide efficient service delivery. The solution is designed so that a Letter of Guarantee process that previously took up to several days is now significantly shortened.

 

READ MORE OF THE ARTICLE AT CHAIN-FINANCE.COM

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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