RBI joins Marco Polo network

Raiffeisen Bank International (RBI) has announced that it has joined the Marco Polo network to evaluate and pilot the platform’s distributed ledger technology. The Marco Polo Network gathers leading financial institutions, their corporate clients and technology partners to address key challenges of international trade. It leverages R3’s Corda blockchain technology and the distributed trade finance platform from TradeIX to enable bank members to offer a wide range of solutions at scale, for a low marginal cost and with a single integration.

Raiffeisen Bank International joins BNP Paribas, Commerzbank, ING, LBBW, Anglo-Gulf Trade Bank, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, Danske Bank, NatWest, DNB, OP Financial Group, BayernLB, Helaba and S-Servicepartner, as a member of the largest network of commercial banks leveraging blockchain for trade finance.

Joining the Marco Polo Network allows financial institutions to develop new and differentiated working capital offerings integrating the latest technology. Their corporate customers can access these solutions through APIs and the first ERP-embedded application for working capital finance. The Marco Polo platform also allows members to test blockchain technology while benefiting from the group’s knowledge and expertise.