Wells Fargo, ANZ and Swift have completed a prototype that envisions how blockchain play a role in correspondent banking.
The three firms outlined the major prongs of new technology they developed in a recent blog post, outlining the development of what they described as a platform that could come to "improve the efficiency and speed of cross-border correspondent banking payment reconciliation and settlement".
The prototype allows two banks to reconcile payments sent via Swift with one another, using a distributed ledger to offer a real-time transaction log.
http://www.coindesk.com/wells-fargo-anz-blockchain-prototype-banking/
