Published on April 19th, 2017 | by bitcoin0
bnp paribas taps block chain for money distribuion platform
A subsidiary of French banking giant BNP Paribas revealed today that it is utilizing blockchain tech for a fund-distribution platform currently in development.
BNP Paribas Securities Services is working with investment manager AXA on the platform, with the stated goal of developing a more streamlined mechanism, in terms of client onboarding, for funds sales.
Fund Link, as the platform is called, is expected to open to prospective customers “in the near future”, the bank said.
Jean Devambez, head of product and client solutions for BNP Paribas Securities Services’ Asset and Fund Services unit, said in a statement:
“There are so many new and exciting ways technology can enhance the fund distribution process.
With this platform we aim to bring many of them together to streamline fund distribution, create efficiencies and ultimately lower client costs.”