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NIIT Technologies Partners With R3 to Build Solutions on Corda Platform

NIIT Technologies Partners With R3 to Build Solutions on Corda Platform

Noida, INDIA, Nov 15 2018: NIIT Technologies Ltd, a leading global IT solutions organization, today announced a global partnership with enterprise blockchain software firm R3 to develop innovative solutions for Banking and Financial Services, insurance and Travel and Transportationverticals on R3’s Corda, an open-source blockchain platform.

As a part of the partnership, both the organizations will jointly develop solutions that combine the domain expertise of NIIT Technologies and leverage R3’s Corda platform and pursue customer opportunities

Sudhir Singh, CEO, NIIT Technologies stated, “Our partnership with R3 is yet another milestone in strengthening our capabilities in the emerging technologies space. Through these solutions, our customers will be able to realize the full potential of blockchain and drive transformation in their businesses – executing complex logic to exchange of assets directly, simply and in strict privacy, without the need for costly reconciliation”.

David E. Rutter, CEO of R3, “NIIT Technologies is a global leader in bringing the latest cutting edge technologies, from cloud computing to artificial intelligence, to enterprises across a wide range of sectors. This makes NIIT Technologies a perfect partner for R3, with our focus on developing blockchain technology tailored to the demands of enterprise. Corda will enable NIIT Technologies to exchange data securely and efficiently, developing new solutions to meet the evolving needs of its global client base”.

Corda is the world's only enterprise blockchain platform designed to record, manage and synchronize contracts and other shared data between trading partners and to meet the complex requirements of the world's largest financial institutions. As Corda was designed to meet the highest standards of the financial services industry, one of the most complex and highly regulated industries in the world, it can also be applied seamlessly to all other areas of commerce.

With this partnership, NIIT Technologies has joined R3's global network of more than 200 of the world's largest financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda . NIIT Technologies had recently also launched Chain-m, a Blockchain application which enables airlines and partners to quickly reconcile the transactions through smart contracts built on Chaincode.

About NIIT Technologies Ltd.

NIIT Technologies is a leading global IT solutions organization, enabling its clients to transform at the intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact. The Company focuses on three key verticals: Banking and financial services, Insurance, Travel and Transportation. This domain strength is combined with leading-edge capabilities in Data & Analytics, Automation, Cloud, and Digital.

With over 10,000 employees serving clients across Americas, Europe, Asia, and Australia, NIIT Technologies fosters a culture that promotes innovation and constantly seeks to find new yet simple ways to add value for its clients.

Learn more about NIIT Technologies at www.niit-tech.com.

About R3

R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 200 members and partners across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

R3’s global team of over 180 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of over USD 120 million from more than 45 firms.

The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce.

Learn more about NIIT Technologies at www.r3.com.

Safe Harbor

Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

For media queries please contact:

Akanksha Gupta
Corporate Communications
NIIT Technologies Ltd.
+91 120 7119033

akanksha.1.gupta@niit-tech.com

 


Suman Nath/Prachi Sinha
Edelman India

919958065680/+91 9821947622
Suman.nath@edelman.com/ Prachi.Sinha@edelman.com

 

For investor/analyst queries please contact:

Abhinandan Singh
Head – Investor Relations and M&A
NIIT Technologies Ltd.
+91 22 40103212
abhinandan.singh@niit-tech.com

 

Publishing Date: 
Thursday, November 15, 2018