Delivering impact analysis of new global payment system
Financial Network Analytics (FNA) and Fnality International (Fnality) are pleased to announce that they have formed a new collaborative relationship. Fnality is building Fnality Global Payments, a new global payments system that will enable the peer-to-peer markets promised by Digital Ledger Technology (DLT) and tokenisation. The system will be a distributed Financial Market Infrastructure (dFMI); regulated in each of the currencies in which it operates.
Fnality will use FNA’s data and analytics capabilities to perform various impact analyses and simulations. These will be an essential ingredient in the regulatory approval process, helping all stakeholders understand how this new capability will interact with existing financial market infrastructures and international payment systems.
Rhomaios Ram, CEO of Fnality, said “Our new payment system will co-exist with the existing market infrastructure. FNA’s capabilities will enable us to do the thorough and informed analysis work that all the stakeholders expect.”
Kimmo Soramaki, CEO of FNA, continued “We are very excited to be working with Fnality to simulate how their dFMI operates in the global payment system. This is something that has not been done at this scale and granularity before.”
Fnality was set up by a consortium of financial institutions. The founding shareholders comprise: Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, Credit Suisse, ING, KBC Group, Lloyds Banking Group, Mizuho Bank, MUFG Bank, Nasdaq, Sumitomo Mitsui Banking Corporation, State Street Corporation, and UBS.