Sberbank signs cooperation deal with SWIFT
Written by Chris Lemmon
Sberbank and SWIFT have signed a memorandum of cooperation regarding the development and piloting of high-tech products, created and promoted by SWIFT.
The parties agreed to coordinate steps to assess the potential application of blockchain technology in interbank settlement platforms. In particular, Sberbank joined the international group of financial institutions testing the prototype of SWIFT’s distributed ledger technology platform, which has been developed as part of SWIFT gpi (global payments innovations).
In addition, Sberbank plans to assess the potential of using the SWIFT Alliance Messaging Hub system as a technological solution to facilitate the centralisation and optimisation of processing Sberbank Group’s internal and external payment flows and other financial transactions.