Glafka Capital, a United Kingdom-based investment bank, announced on Tuesday that it will integrate Valk’s solution, in an attempt to fully digitize its processes.
Valk’s solution is based on R3’s Corda blockchain which is being used by around 40 other investment banks.
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With this integration, the UK-based bank will digitize and also automate processes including investment onboarding, data room analysis, legal documentation signing, investment, and post trade.
Moreover, the bank also stresses that the integration of the blockchain-based solution will also minimize its process costs and time spent on deals by going all-digital while providing its clients with better user experience.
“The implementation of VALK’s platform on Corda opens new horizons for GLAFKA in its investment banking deals. It is in the genes of the company to pioneer in the vast transformational changes that digitalization will bring to the financial markets,” the co-founders of Glafka – Petros Mylonas, Christoforos Papanicolaou, and Aggelos Kotaridis – said in a joint statement.
Blockchain will help in expanding offerings
The announcement also detailed that this will enable the investment bank to add a spectrum of services in its offerings.
The bank is also optimistic that as 350 other enterprises are using Corda blockchain, it will permit a large pool of institutions to trade and interact together. Notably, Archax and SDX are also scheduled to go live later this year using the same technology.
“Whether this is a loan portfolio, a sale of hard asset, a capital increase or IPO, we will be able to provide a revolutionary digitized and secure workflow process together with secondary market liquidity,” the joint statement added.
“[Glafka] are pioneers, innovators and are here to gain pole position in this technological revolution that we are witnessing in the financial sector,” Antoine Loth and Elie Azzi, co-founders of Valk, stated. “There are already many opportunities that we want to help them take advantage of by connecting with Corda’s vibrant user base and exchanges we are close to.”