Spunta Banca DLT

Fast and transparent interbank reconciliation thanks to DLT technology. Spunta Banca DLT is a project coordinated by ABI Lab and promoted by ABI geared to applying the new DLT technology to interbank reconciliation.

Fast and transparent interbank reconciliation thanks to DLT technology. Spunta Banca DLT is a project coordinated by ABI Lab and promoted by ABI geared to applying the new DLT technology to interbank reconciliation.

The Spunta Banca DLT application allows banks to quickly identify any misalignments in interbank transactions, by sharing common data in a secure manner. It also allows them to perform checks and exchanges directly within the application and to use standardised processes and communications to correct potential problems. Smart contract technology for settlement also provides banks with automatic feedback on their transactions. The results include a lower operating risk and faster and more transparent processes, all provided through a highly user-friendly interface.

Following the completion of technical performance tests which simulated 200 million transactions (representing an entire year’s data), the Spunta DLT application has been in production since 1 October 2020 with 97 banks that have signed up to the project.

Spunta Banca DLT is hosted on ABILabChain, a shared DLT infrastructure which maximises synergies and, at the same time, ensures great flexibility in the development of new, future initiatives with the distributed applications.

ABILabChain is shared infrastructure, a binary network on which a number of initiatives can be conveyed (also including competitive use cases), created to enable Italian banks to use a common DLT.

The team

•  ABI Lab, the Research and Innovation Centre promoted by ABI

• 97 member banks, equalling 91% of the banking sector in terms of employee numbers

• 18 banks/banking groups involved with distributed governance in the implementation choices and actions 

Partners

• NTT DATA   

• NEXI   

• R3 with the Corda platform 

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