ABN AMRO has recently joined R3, an innovation firm focused on new generation technologies for the financial sector. R3 has built a network of prominent players in the global financial industry, all of which collaborate to create new applications relevant to financial markets worldwide.
Arjan van Os, Head of ABN AMRO’s Innovation Centre: “This is exactly the right time for us to step in. We already spend a lot of time developing and testing new technologies, on our own and together with other parties. One such example is the ‘distributed trust technology’, also known as block-chain technology. R3 offers the scale and organisation to develop ‘finance grade’ applications at a broad and international level based on this new technology. ABN AMRO is keen to act on these developments and lift its knowledge of block chain to a higher level.”
R3 grew from around 40 members to 70 in a short period of time. In addition to its R3 membership, ABN AMRO participates in other consortiums, including Digital Asset Holdings and the Linux Hyperledger Project, to further develop block-chain and other technologies. The bank also collaborates with IBM and experiments on the Ethereum platform in various fields.