Sibos 2022: Blockchain is still the ‘Holy Grail’ for data – JP Morgan

finextra.com:

Confirm is a global account information validation tool, allowing participants to confirm account information and receive responses in near-real time from other network participants. The application is deployed through Liink, JP Morgan Onyx’s information exchange network that enables payment-related data sharing between institutions.

Stepping into the shoes of JP Morgan’s digital asset veteran, Christine Moy, in February, Liink’s new global head of Liink Sushil Raja has a full plate, having assisted in building the Liink team and strategy as CFO alongside Moy. “It has been a good opportunity for me to take the things I was thinking about from a strategy mindset, and shift toward the commercialisation and business mindset.

My focus this year has been upping the intensity on making Liink and the products we’re building, like Confirm, real and commercialised.” The bank projects significant growth for Confirm over the next 12 months, hoping to increase its presence from 10 countries in 2022 to 30 countries by the end of 2023. By the end of 2022, JP Morgan predicts the service will grow its coverage to span across more than 3,500 banks, covering more than two billion accounts.

Confirm’s global head, Alex Littleton, states that finding the right partnership opportunities will continue to be key for Confirm’s plans to scale quickly. “The Deutsche Bank partnership has been a critical part of how we think about doing business in general.