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Natixis Joins R3's Blockchain Consortium
Natixis has become a partner with technology firm R3 to develop blockchain technology throughout the banking sector and in implementing market standards. This financial sector initiative will help the creation of common banking standards based on this technology, endorsed by the global financial actors.
Blockchain technology, which is based on a decentralized infrastructure paradigm, is poised to have a major impact on global finance’s future ecosystem. It will make data and transaction exchanges much more fluid, for example by trimming the number of intermediaries involved, thereby simplifying banking infrastructure. It is also expected to enhance system security, authenticity and resilience while also reducing transaction costs.
Natixis will collaborate with the R3-led consortium to develop shared protocols, build architecture models and write specific transactional constructs that span across the various activities of the banking world.
This collaborative effort falls squarely within Groupe BPCE’s digital strategy which seeks to capitalize on developing new technologies to improve the nature and quality of services to clients in France and internationally, irrespective of whether they are individual, professional or institutional clients.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.2 billion, a Basel 3 CET1 Ratio(1) of 11.3% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 31 December 2019.
