Bankchain services was added to the Launch haus portfolio in 2017 to serve as the global marketing company to enroll financial institutions into the bankchain consortium.
Financial markets & institutions rely very heavily upon technology for every part of their business. Current pain-points in financial technologies:
- High maintenance and support costs
- Out-dated IT systems
- Need for manual reconciliation
- Systems that don’t “talk” to each other
BankChain is a community of banks for exploring, building and implementing blockchain solutions. Formed in February 2017 with State Bank of India (one of the largest banks in the world) being the first member, BankChain now has 30 members globally and plans to add another 1,000 banks in 2018 .
BankChain is operated and developed by Primechain Technologies, a young Indian startup born with the mission of creating blockchains for a better world.