UK-based bank NatWest is going to integrate a new Blockchain platform for the use in the syndicated loans market in November.
A syndicated loan means the size and risk of a loan cannot be accepted by a single lender but a ‘syndicate’ of two or more lenders is required to spread the risk. The new platform, “Fusion LenderComm,” was developed by Blockchain consortium R3 and fintech enterprise Finastra.
“NatWest will now be able to specify and publish lender-specific deal information to Fusion LenderComm in real-time, while its lenders can view this data which was previously only periodically provided by fax from agents or through telephone or email queries from lenders,” said Grant Jones, VP at Fusion LenderComm, Finastra.
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