Express
Indian Tech Giant Mahindra Partners With Marco Polo To Speed Up Cross Border Transactions
Summary: The IT subsidiary of Indian conglomerate Mahindra Group, Tech Mahindra, is now the first Indian business to utilize R3’s blockchain-based Marco Polo Network to conduct cross-border transactions. Tech Mahindra said that the platform allowed for faster reconciliation and ambiguity resolution, as well as the significant reduction of paperwork and time required for the entire transaction ...
The IT subsidiary of Indian conglomerate Mahindra Group, Tech Mahindra, is now the first Indian business to utilize R3’s blockchain-based Marco Polo Network to conduct cross-border transactions.
Tech Mahindra said that the platform allowed for faster reconciliation and ambiguity resolution, as well as the significant reduction of paperwork and time required for the entire transaction cycle.
the IT firm has partnered with Singapore’s DBS Bank, which facilitated the transactions and acted as the company’s leading trade bank. The parties used the Marco Polo Receivables Discounting product which helps companies optimize their working capital, improve liquidity and mitigate credit risk.
By Ramsey Baker
Tags: Blockchain,India,Mahindra Group,Marco Polo,R3,Tech Mahindra
Link: Indian Tech Giant Mahindra Partners With Marco Polo To Speed Up Cross Border Transactions [Copy]
