THELOGICALINDIAN - Banking and banking casework industry are heavily abased on the newage agenda technology for added advance Microsoft is one of the abounding tech companies carefully complex with the cryptocurrency area facilitating the development of blockchain technology for banking applications
In its contempo blog post, the aggregation has offered capacity about the accord of Satya Nadella, CEO of Microsoft Corporation in the Fintech Ideas Festival. The accident captivated amid January 9 and 10, 2017 in San Francisco saw the accord of some of the arch names in the technology and banking account industry.
The discussions in Fintech Ideas Event revolved about the abeyant uses of latest technologies in the acreage which hasn’t afflicted abundant in the accomplished decade. The armament active banking casework appear a new era accommodate cloud-based solutions, bogus intelligence and blockchain technology.
The blog mentions Microsoft’s role in ushering a new era for fintech. The company’s articles and casework are currently acclimated by the brand of MetLife, Emirates National Bank of Dubai, Societe Generale, Bank of America Merrill Lynch and Temenos. Microsoft’s Azure billow casework is a accepted agency amid all these companies.
MetLife and Emirates National Bank of Dubai are application Azure, its Machine Learning basic and Microsoft Dynamics to advance chump acquaintance and relationship. On the added hand, Bank of America Merrill Lynch is application the company’s Blockchain as a Service to automate assorted processes.
“Bank of America Merrill Lynch is alive with Microsoft Treasury to use Azure Blockchain as a Service to transform and automate the processes for standby belletrist of credit, abbreviation action time from 3-5 weeks to 3-5 days, demography the absurdity amount bottomward to aught percent and decidedly abbreviation the amount to pennies on the dollar.”
The use of Azure Blockchain as a Service is not bound to Bank of America. The aggregation has already collaborated with R3 Blockchain Consortium to action its billow casework for banking broadcast balance accomplishing by its accomplice institutions. Similarly, added companies like IBM, Red Hat and others are additionally heavily invested in blockchain technology authoritative it a advantageous advance accustomed its approaching potential.
