Deutsche Bank joins JPMorgan’s Interbank Information Network

Deutsche Bank has joined a distributed ledger technology payments settlement system by JPMorgan.

In Brief:

• It is the first top tier European institution to join the system.

• 330 banks in total have joined the network.

• IIN will help banks harness emerging technologies.

What does this mean?

IIN was launched in 2017 as a way to speed up cross-border payments, and help banks compete against FinTechs that provide solutions in the space.

Read more here.