WSFS Institutional Services TM, a division of WSFS Bank, and Intain Inc. (“Intain”), a leading provider of technology for automating the management of capital markets transactions, announced a collaboration to create a tool offering trustee reporting on asset-backed transactions on a blockchain-backed platform.
The new platform, built on a permissioned blockchain, eliminates reconciliations and automates transactions. Real-time reporting makes compliance simple and provides WSFS clients with full transparency. The platform connects with Issuer and Servicer systems to receive initial loan data and ongoing servicing information. “Smart contracts” automate the reporting on the transactions, including the calculation of payments and other information typical in investor reports provided by indenture trustees.
Read more: https://www.globenewswire.com/news-release/2020/02/25/1990381/0/en/WSFS-and-Intain-Collaborate-to-Offer-Unique-Asset-Backed-Securities-Trustee-Services-Using-Enterprise-Blockchain-Technology.html