About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Synechron Apps Support Fast Implementation of Blockchain Solutions

Subscribe to our newsletter

Business consulting and technology services provider Synechron has released six blockchain applications designed to help financial institutions get up and running on a blockchain network or in a sandbox environment within weeks. The applications are cloud based and include solutions for Know Your Customer (KYC), global payments, trade finance, smart margin calls, insurance claims processing and mortgage financing and processing.

The initial applications are part of Synechron’s Blockchain Accelerator Program and more will be developed. Sandeep Kumar, managing director of capital markets and a blockchain specialist at Synechron, says the next applications could cover syndicated loans and OTC margins, although development will depend on client requirements.

He explains: “Some financial institutions want to do a lot with blockchain, but they don’t have the necessary technology depth and time. By building business applications on existing blockchain platforms, we can help firms cut down development time. Our focus is on what is useful for banks and we deliver working code.”

Synechron has built the applications on Hyperledger, Ripple, Ethereum and Eris blockchain platforms depending on the best match of application and third-party platform. It is also moving on to offer interoperability between platforms through a partnership with ConsenSys, a start-up providing developer and end user tools for blockchain ecosystems.

Kumar says: “We don’t expect there to be one blockchain platform in the market. Hyperledger will probably dominate financial services and small bank groups are likely to make Ethereum their platform of choice. We chose the best platforms to suit our application use cases and are working on interoperability between platforms.” As well as working on a clean interface between platforms, Synechron is building connectors to mainframes.

Synechron also provides custom blockchain development and some of its clients are going live with this. Others are expected to favour the accelerators, which are delivered as end-to-end solutions with business consulting services, blockchain technology, training and UX design that enables banks to customise applications to their needs.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Streamlining trading and investment processes with data standards and identifiers

Financial institutions are integrating not only greater volumes of data for use across their organisation but also more varieties of data. As well, that data is being applied to more use cases than ever before, especially regulatory compliance and ESG integration. Due to this increased complexity of institutions’ data needs, however, information often arrives into...

BLOG

ACA Insights from FCA 2024 STORS Report (Insider Dealing Dominates)

In March, the UK Financial Conduct Authority (FCA) published its annual breakdown of suspicious transaction and order reports (STORs) filed during 2024. The headline figure – 4,528 STORs received – reflects continued vigilance in monitoring for potential market abuse. While the volume remains largely consistent with previous years, the detailed breakdown offers valuable insights for...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...