Santander back to R3 to participate in the FCA mortgage loan project


nnnIn the wake of last year, several financial institutions such as Santander withdrew from the R3 distributed books alliance, still involved in the R3 FCA mortgage loan prototype development work, and their own block chain project development. The Santander will work with R3, the UK Financial Market Behavior Regulatory Authority and the Royal Bank of Scotland to develop a regulatory report on mortgage lending transactions based on distributed book technology. And plans to work with UK mortgage lenders, academic communities and other regulators to pilot projects.n
nnTranslation: Annie_Xun
nSpanish bank giant Santander will once again work with the Financial Technology Alliance R3, the Financial Markets Authority (FCA) and the Royal Bank of Scotland (RBS) at R3’s Corda Distributed Book Technology (DLT) Platform for mortgage loan transactions supervision report.n
nSantander did not belong to the FCA mortgage loan prototype project, last year after Goldman Sachs, Morgan Stanley and the Australian National Bank (National Australian Bank) after the withdrawal of the R3 members.n
nA person who recently attended the CordaCon conference in R3 said, “Santander is a bank that works with RBS’s R3 FCA mortgage loan prototype, but they do not want to be open.”n
nSantander spokesman said:n
nn”As a leading provider of financial services, we continue to explore new products and services in the financial technology sector.”n
nnn”We are very excited to use the distributed bookkeeping technology currently in the proof stage of the concept of mortgage loan transactions.”n
nnThe bank did not verify whether it would continue to be a paid member of the Union.n
nObviously the rapid development of the DLT field of banks in the hedge of their own gambling. Both Santander and Goldman Sachs have invested in Digital Asset Holdings, a chain-chain development firm founded by former JP Morgan executive Blythe Masters.n
nInterestingly, Santander is also an important supporter of Ripple, which uses the tokens system to connect to the treasury between banks, which is also a legal dispute in the fall of R3.n
nJP Morgan Chase also withdrew from the beginning of this year, R3, began his own block chain project “Quorum”, which is used for enterprise use of the ether square fork. “Banks and Goldman Sachs are only involved in projects that they can not control,” he said, “different banks have different business models.”n
nOn how to look at the open source Quorum project, he said:n
nn”Did you hear what Morgan did not get a return?”n
nnThe FCA mortgage application on the Corda platform of R3 can automatically generate a receipt for the regulator after completing the mortgage registration.n
nThe solution will probably extend to other regulatory reporting areas by addressing data quality issues at the source, increasing data consistency, reducing costs and operational risks.n
nProject participants will continue to work with R3 to facilitate practical application pilot. This will include cooperation with other UK mortgage lenders, academic communities and other regulators.n

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