Developed a secure blockchain-based settlement platform that reduced settlement times from days to minutes and cut transaction costs by 71% for a consortium of financial institutions.
The Challenge
Alliance Financial Network, a consortium of banks and financial institutions, was dealing with inefficient, costly, and time-consuming settlement processes that took days to complete and required extensive reconciliation.
Our Solution
We built a private blockchain-based settlement platform on Google Cloud that: - Provides a shared, immutable ledger for all consortium members - Automates settlements through smart contracts - Ensures compliance with financial regulations - Integrates with existing banking systems - Offers real-time visibility into transaction status
Results & Impact
- Reduction of settlement time from 3 days to 12 minutes
- 71% decrease in transaction processing costs
- Near-elimination of reconciliation errors
- 42% increase in transaction throughput capacity
- Complete audit trail for regulatory compliance
Key Performance Metrics
Settlement Time Comparison
This chart represents bar data visualization
showing improvements after our solution.
Transaction Volume Growth
This chart represents line data visualization
showing improvements after our solution.
Solution in Action
Blockchain transaction monitoring dashboard
Financial operations team working with the blockchain platform
Client Testimonial
The blockchain settlement platform has revolutionized how our member institutions conduct transactions. What used to take days now happens in minutes, with significant cost savings and improved security for all participants.
Richard Wong
COO, Alliance Financial Network
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