A report from the Whitechapel Think Tank indicates that DLT (Distributed Ledger Technology) has the potential to grease a number of operational wheels with UK payment systems, including reference data, identity management, settlement and internal bank processes. WTT says that the banking industry should investigate the use of Distributed Ledger Technology in the UK’s Extended Industry Sort Code Database, and a central sanctions database, noting that the flagging of financial crime intelligence sharing is currently a problem.
A report from the Whitechapel Think Tank indicates that Distributed Ledger Technology (DLT) has the potential to grease a number of operational wheels with UK payment systems, including reference data, identity management, settlement and internal bank processes. WTT says that the banking industry should investigate the use of DLT in the UK’s Extended Industry Sort Code Database, and a central sanctions database, noting that the flagging of financial crime intelligence sharing is currently a problem.