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Heiko Nix, global head of cashmanagement and payments at Siemens AG Heiko Nix , global head of cashmanagement and payments at Siemens AG, said: “Siemens AG’s collaboration with Standard Chartered marks a pivotal advancement in the realm of cross-border transactions.
The funding will boost efforts in the cashmanagement solutions space, spanning virtual accounts, FX conversions and an API with real-time execution of FX trades. The blockchain had been designed on the distributedledgertechnology (DLT) via R3 ’s Corda offering. The banks said the tests had completed 1.2
However, with technology in place, Rodrigues explained, treasury can be transformed to become the “24/7 investment arm, to support financial and broader goals for global companies.”. Within that ambition, he said, “the only way to create real-time cashmanagement or trading is to allow all parties to see the same pool of validated data.”.
Prototypes and proofs of concept are being developed for payment systems based on distributedledgertechnology (DLT). Furthermore, Capgemini’s World Payments Report 2023 revealed that 53% of payment firms are engaging in multiple pilot projects to harness AI across the cash-management value chain.
The BoC has engaged in several initiatives, including Project Jasper, which examines how distributedledgertechnology (DLT) could be integrated into the country’s payment systems. It was introduced to promote financial inclusion in the country, especially in remote areas where access to banking services is limited.
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