The Bank of Ayudha in Thailand has finished a Blockchain pilot, tapping one of the biggest names in the technology industry: IBM. The test aims to simplify the contract management process with the help of distributed ledger technology (DLT).
Improved Related Party Transaction (RPT)
The bank is currently the fifth largest in Thailand when it comes to assets, deposits, and loans. They are providing a wide scope of financial services, including credit cards, insurance, securities trading, as well as wealth and asset management.
They do thousands of agreements and transactions day to day so it is fitting for the bank to improve its process efficiency through a modern and faster approach. After months of collaboration, both the bank and IBM are satisfied with the results. They agreed that RPT capability has improved in terms of transparency, data security, and general operations…