Blockchain Technology Solutions by Xtrictech 3PL

The Client’s business is dependent on reliable and transparent financial information. Our Blockchain experts devised faster and more accurate information handling and delivery methods through immutable ledgers (with limited access). With our timely Blockchain interventions, it was possible for the Client to:

• Track payments, orders, production, accounts, and transactions (with full details) to enjoy new opportunities and efficiencies.
• Lower the fees of electronic payments and streamline the entire transfer process.
• Gain real-time and accurate information on payment status and their reversibility options to prevent scams.
• Bring in desired changes to enable efficient use of mobile devices and secure digital identity while delivering its financial services.
• Execute enhanced digital currency transactions with Blockchain-enabled cryptocurrency solutions.
• Reduce the costs of bookkeeping, commissions to intermediaries, purchase of central databases and their maintenance, database security, and value transfer systems.
• Enable peer-to-peer (P2P) transactions with every stakeholder as a node.
• Reduce credit and fund management risks with smart contracts, instant payment settlements, and more reliable data immutability tools.
• Settle transactions near instantly and remove the risks that barred counter parties from meeting their obligations, thereby reducing bank expenses substantially.
• Increase the options for financial services solutions in the time crises with digital/crypto or tokens or currencies.

The solutions and networks introduced by Xtrictech 3PL set the stage for instant settlements, reduced costs, higher transparency and security, effective risk controls, and more impactful audits. Our comprehensive assessment of blockchain requirements was based on multiple qualitative and quantitative criteria to generate the desired results.

Blockchain Benefits

Blockchain technology, oft-referred to as a universal currency used by the global financial sector, can replace paperwork and processes with new-age speed and innovation. In addition, the highly secure and transparent collective trust built with Blockchain capabilities creates better solutions to guarantee tangible business outcomes and benefits.

• Simplified operations with muti-party, real-time tracking systems.
• Superior handling of letters of credit and bank guarantees.
• Faster, more accurate recording and reporting with automated compliance processes.
• Integration of immutable data records for frictionless, accelerated, and point-to-point fund transfers across financial organizations.
• Innovative service models with high scalability and security measures to ensure lower-cost, error-free settlements.
• Unique digital representations of financial assets for trading all types of assets with higher speed and liquidity.

Our Blockchain-aided trade and financial solutions created better trade experiences for the Client. With reduced operational costs and risks, guarantees and credits were processed quickly and with deeper insights into the financial positions of different parties. Furthermore, with risk-mitigated, standardized, and transparent trade (credit, finance and insurance) solutions, new revenue opportunities emerged readily.

The Blockchain technology solutions implemented by Xtrictech 3PL fostered higher transparency and security in cross-border trading. We also integrated new trade networks and trading hubs to reinvent the complex trade processes of the Client. Our experiences in rapid product development, networking, strategy building, governance and compliance building could unlock blockchain value. Overall, we provided a whole stack of innovative tools to foster a sharp, competitive edge for the Client’s financial services business.