JPMorgan Expands Blockchain Usage for Payments and Fintechs

JPMorgan’s Interbank Information Network (IIN) has already signed up more than 220 banks and now they plan to expand the usage beyond data sharing for payments; the global bank is looking to expand their function in the payments space and open up the network so fintech companies can test; they plan to have the system up and running in Q3 2019, they believe they can alleviate payments issues that effect between 5 and 20 percent of payments due to several compliance issues; the testing environment will also be live in Q3 to help fintech firms develop products for secure messaging, document transfers and data modeling. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.