News > SBI ties up with JPMorgan, to use its blockchain tech to speed up overseas transactions

SBI ties up with JPMorgan, to use its blockchain tech to speed up overseas transactions

Times Now | 23/02/2021 02:23 PM | Click to read full article

State Bank of India has tied up with JPMorgan to use its blockchain technology to speed up overseas transactions. The partnership is expected to reduce SBI customers’ transaction costs and time taken for payments.

Time taken to resolve cross-border payments-related inquiries can be reduced to a few hours from up to a fortnight, they said. This will help cross-border payments reach beneficiaries faster and using limited steps, the publication added.