TCS enables ABN AMRO to Use Blockchain for Clearing and Settlement

CHALLENGE

ABN AMRO Clearing (AAC) sought to experiment and learn the potential of blockchain technology.

Blockchain technology has made significant inroads into the financial sector, which prompted AAC to conduct their own assessment of the applications of this new technology across multiple business areas. AAC needed a clear picture about its potential, opportunities, and the probable disruptions to prevalent business models. Towards this goal, they planned an experimental system to achieve disintermediated, peer-to-peer delivery versus payment settlement integrated with existing legacy systems.

TCS builds blockchain proof-of-concept platform and Web applications for banking needs.

“This experiment with TCS gave valuable additional insights on integration of legacy with blockchain.”Arjan van OS, Head of Innovation Centre, ABN AMRO Bank.

TCS partnered with AAC as a thought leader to study and evaluate use cases and conduct workshops on blockchain innovation.

We leveraged our blockchain PoC platform, to build a securities settlement PoC for AAC. The joint PoC allowed AAC to experiment the issue and transfer of securities and tokenized cash balances in a distributed ledger between issuers, clearing banks, and investors.

TCS’ blockchain research enhanced AAC’s understanding of the role of blockchain technology in financial services.

We created a sandbox environment linking processing nodes across AAC and TCS environments, representing various business stakeholders. We developed a standalone Web application to simulate the actions of various players and smart contracts to handle complex business rules. To enable straight-through-processing between AAC’s back office system and blockchain, our team developed message converters to transform ISO15022 messages to blockchain API calls and vice versa. An integration layer connected the back office system with the blockchain-based ledger synchronously.

What Made it happen

Risk and Compliance functions are looking to drive intelligent interventions in information and control assurance as higher probability of risk demands enhanced controls for effective risk and compliance management. The TCS solution caters to the BFSI industry enabling compliance, driving automation and optimization of costs.

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The economic uncertainty resulting from the COVID-19 crisis has made it imperative for banks to relook at their counterparty risk management practices. With TCS’ Early Warning Framework, banks can assess the riskiness of counterparties in near real time.

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TCS works hand in hand with world-leading investors.

TCS is here to make a difference through technology.

We are with you for the long run.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

ABN AMRO & TCS Explore Blockchain Technology

CHALLENGE

ABN AMRO Clearing (AAC) sought to experiment and learn the potential of blockchain technology.

TCS builds blockchain proof-of-concept platform and Web applications for banking needs.

What Made it happen

Cognitive assurance for risk and compliance

Early warning framework for risk management

Transformation starts here

Find out more

TCS is here to make a difference through technology.

We are with you for the long run.

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

Find the latest news about TCS in our Newsroom

Recent Press releases

Recent News

Recent recognitions

Upcoming events

TCS works hand in hand with world-leading investors.

CHALLENGE

ABN AMRO Clearing (AAC) sought to experiment and learn the potential of blockchain technology.

TCS builds blockchain proof-of-concept platform and Web applications for banking needs.

What Made it happen

Cognitive assurance for risk and compliance

Early warning framework for risk management

Related reading

Transformation starts here

Find out more

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