U.S. Markets close in 1 hr 11 mins

HashCash Partners with a Global Bank on Blockchain based Core Banking Solutions

California based software company HashCash Consultants is working with a global bank on blockchain-based core banking solutions.

PALO ALTO, Calif., Oct. 7, 2019 /PRNewswire-PRWeb/ -- After partnering with some of the biggest names in the banking sector, HashCash Consultants has announced a new collaboration. At present they are working with a US-based global bank on blockchain-backed core banking solutions. The company had earlier established tie-ups with over sixty global banks, that are part of the HashCash Network, HC Net. So far, they have formed a robust network of partners in 34 countries and have worked on blockchain-based core banking solutions with banks in Kenya and Bangladesh as well.

In a session with the media, Raj Chowdhury, CEO of HashCash Consultants stated, "HashCash has offered a wide range of banking and payment solutions powered by blockchain to the global banking industry. These applications are bolted onto the existing core banking systems limiting their full potential. A core banking system using blockchain technology from the ground up will create a truly connected solution that would revolutionize banking security, speed of payments, and many banking functions which are considered unattainable today."

Blockchain and Banking

Blockchain technology has the potential to revolutionize the banking sector. Complete adoption will enable banks to process payments faster. It will ensure accuracy while making the transactions cost-effective. However, for that, the banks need to build an infrastructure that can create and operate a real-time global payment network.

HashCash Core Banking Solutions

HashCash core banking aims at providing digital economic solutions by handling central areas of banking and enhancing the core capabilities of the legacy systems. Their core banking renewal helps businesses to stay updated and upgraded, so they can match up with the latest technology and changing the business landscape. HashCash offers custom building units to create a responsive core banking solution.

The key features of the services are:

  • Blockchain security
  • Option to position the integrated suite or separate compartments
  • Multi-layered design for multi-platform and multi-database flexibility
  • Guaranteed zero outage even during day end processing
  • Customer-centric architecture that comes with real-time fullscreen one shot view of customer relationships
  • In-built workflow engine
  • Multi-lingual, multi-entry, multi-currency, multi-byte, and multi-time zone solutions
  • Elaborate user-level customization and parameterization

Other HashCash Banking Products

HashCash has more to offer than blockchain-based core banking solutions. They have other blockchain products related to commercial lending, risk management, and digital identity verification platform.

HashCash' commercial lending solutions, ensures a seamless customer experience across all dimensions of the commercial lending business and allows one to conduct business with amazing transparency and speed. With cutting edge scalability and accuracy, they integrate the complex financial ecosystems with added agility and flexibility.

The Banks and financial organizations across the world face the risk of liquidity risks that are often associated with imbalances in the inflow and outflow of funds.

HashCash provides crucial insights and guidance in the field of liquidity control to banks and other financial institutions. They use the most advanced software tools and meticulous back end algorithms to drive their partner's liquidity policies in alignment with government regulations and policies.

Blockchain has been evolving to provide industry-specific solutions and upgrade legacy systems. So far, the technology has been immensely helpful in creating seamless systems by correcting the lags.

Experts believe that the integration of blockchain with the existing core banking solutions will bear fruitful results for the industry players as well as the customers.