STOCKHOLM – The first meeting of the Nordic banks and financial institutions involved in the R3 CEV Distributed Ledger Group (DLG), which is looking to pioneer Blockchain use within the financial industry, was hosted by Nordea in Stockholm this May.
The DLG consortium was formed in 2015 by R3 (a US based FinTech) and now consists of 42 core financial institution members and five non-core members from across the world. In May, 35 representatives from Nordea, SEB, DNB, OP, Danske Bank and R3 met at Nordea headquarters in Stockholm to discuss the way forward for R3 CEV in the Nordics.
Topics under discussion included the possibility of expanding the group beyond just financial actors, the creation of a dedicated R3 resource for Nordic banks, the exponential increase in blockchain investment by R3 member banks and the establishment of a Nordic Use Case project run by the Nordic DLG community.
Co-Head of Transaction Banking and Nordea’s Blockchain sponsor, Erik Zingmark, hosted the event and began the day by welcoming everyone to the Nordic cooperation. Later, Sofus Mortensen gave his perspective as the only external contributor to R3’s recently released distributed ledger platform, Corda, which is aligned with most Blockchain platforms and addresses needs that are unmet by other platforms around non-functional requirements, such as privacy and scalability.
The meeting was a huge success, according to Nicolaj Hval-Thomsen, the Head of Nordea’s Innovation Lab, who said: “The session was open, collaborative and productive. I was proud on behalf of all Nordic banks when we were able to show R3 our ability to coordinate across the banks.”
Erik Zingmark added: “We want to ensure that we always offer the most competitive solutions for our customers in the future and that is why collaborations like this are so important to us. Nordea wants to build the best digital experiences for our customers. With this strategic DLG partnership we are now investing at an early stage in a promising new technology in order to stay relevant for our customers and in the forefront of banking.”
Nordea will continue to collaborate with the consortium by working together on new projects and will advocate for a dedicated resource in London to concentrate on the Nordic region.
For additional information:
Nicolaj Hval-Thomsen, Head of Nordea’s Innovation Lab, +47 90709008
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