Sri Lankan bank selects Infosys Finacle for cross border trade finance

Infosys said Tuesday Sri Lanka-based Hatton National Bank has selected its Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network. The Finacle Trade Connect solution will be used by HNB to pilot a trade network with other corresponding banking partners and its corporate clients.

"Blockchain technology offers unprecedented opportunities to transform banking, with advantages increasing exponentially with increased collaboration. We are excited to collaborate with HNB in this promising journey," Sanat Rao, Chief Business Officer, Infosys Finacle said in a statement. Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys.

(With inputs from agencies.)