[2017-01-09] ET: Axis Bank becomes third lender to offer block chain service

Axis Bank becomes third lender to offer block chain service

http://economictimes.indiatimes.com/industry/banking/finance/banking/axis-bank-becomes-third-lender-to-offer-block-chain-service/articleshow/56424441.cms

Private sector Axis Bank today became the third lender in the country to announce usage of block chain solutions for its operations, after its peers ICICI Bank and Yes Bank.

The Shikha Sharma-led bank, the third largest private sector lender, will be using the upcoming technology for cross-border remittances, it said in a statement.

We are committed to using innovation in technology to make banking simple and convenient for our customers," deputy managing director V Srinivasan said.

He said remittances have been a key strategic area for the bank and the block chain technology will enable real-time affordable money transfers.