Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia.
According to a press release published by the bank on Sept. 12, the service — dubbed Distributed Treasury and Cash Management (DTCM) — enables Alfa-Bank’s corporate clients to manage their payments, loan and deposit products, as well as liquidity pool inside the holding.
A bank created for the user
The service is described as a “bridge to the Bank-as-a-Service (BaaS) model for corporations.” Director of the Alfa-Bank Center for Innovations Research and Development Denis Dodon explained:
“The key difference between DTCM and other offers available on the market is that we give our client not just a channel to send orders to the bank but a way to shape up business logic of the product and actually ‘create a bank’ for the client’s convenience.”