SBI Holdings' SBI Sumishin Net Bank announced that the bank will cooperate with Nomura Research Institute to conduct proving test to develop future core and operating system utilizing blockchain technology from this month.
Blockchain technology is the hottest field in FinTech, receiving worldwide attention as the technology is promising.
In partnership with Nomura Research Institute which has a lot of proven records of developing financial systems, SBI Sumishin Net Bank will work on the proving test for introducing blockchain technology into banking operation by using the bank’s accumulated experiences and know-how on internet banking.
In the test, they will utilize blockchain technology and thrash out it for implementation into core systems and operating systems. In addition, developing prototype system for the test is also planned and they will make sure the challenges and outcomes when the blochchain technology is introduced into banking operation. For the process of implementation of the blockchain technology, Singapore based Dragonfly Fintech will handle as the FinTech firm has expertise in development of blockchain core technology.
(Source: SBI Sumishin Net Bank)
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