An Intellyx Brain Candy Brief
Behind the scenes of any large movement of money and securities, there is an extremely complex dance of procedures that must be followed both within and between institutional banks, national banks, securities firms, payment networks and custodians before final settlement is realized.
PeerNova offers an immutable distributed ledger to allow auditors and custodians to maintain the state of complex multi-party transactions as their workflow progresses, and quickly spot exceptions if any step is out of sync. They do this by providing transparency and standardizing the data model of financial organizations “from the inside out,” as CEO Gangesh Ganesan puts it.
The company’s Cuneiform solution combines a configured open-source data repository and public/permissioned blockchain network that allows financial peers to maintain consensus about the state of interdepartmental assets and transactions within a bank, or across banking networks such as SWIFT, or through securities and digital currency exchanges.
Copyright ©2019 Intellyx LLC. Intellyx advises companies on their digital transformation initiatives, and helps vendors communicate their agility stories. At the time of this writing, none of the organizations mentioned in this article are Intellyx customers. To be considered for a Brain Candy article, email us at pr@intellyx.com.
