Arab Jordan Investment Bank wraps blockchain PoC

The bank says the move shows its commitment to provide customers with the latest technologies that deliver the smartest products and services

ICS Financial Systems (ICSFS) has been working with Arab Jordan Investment Bank (AJIB) on a blockchain proof of concept (PoC).

This was conducted between the FI’s Amman head office and its Cyprus branch (Limassol) using ICS BANKS Blockchain Adapter, which is integrated with the Oracle Autonomous Blockchain Service running on the Hyperledger Fabric platform, the ICS BANKS core banking system and ICS BANKS digital banking platform.

AJIB says that it “can now practice fund transfers between its subsidiaries or bank-to-bank securely, faster, cheaper and instant (real-time) through all its digital banking platforms 24/7.”

“One of the first blockchain PoCs executed in this region”

“The success of this PoC is the beginning of a new journey for AJIB, and we are looking forward to using this transformative technology, after being regulated in different banking solutions, to continue fulfilling our customers’ evolving financial needs,” says Chairman of Arab Jordan Investment Bank, Hani Al-Qadi.

“The initiative is one of the first blockchain PoCs executed in this region, delivering an enterprise grade blockchain platform with industry leading resiliency, scalability and security,” claims Managing Director of ICSFS, Robert Hazboun.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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