Mumbai, Nov 16(UNI) NIIT Technologies Ltd announced a global partnership with enterprise blockchain software firm R3 to develop innovative solutions for Banking and Financial Services, Insurance and Travel and Transportation verticals on R3's Corda, an open-source blockchain platform.

As a part of the partnership, both the organisations will jointly develop solutions that combine the domain expertise of NIIT Technologies and leverage R3's Corda platform and pursue customer opportunities.

Sudhir Singh, CEO, NIIT Technologies stated, 'Our partnership with R3 is yet another milestone in

strengthening our capabilities in the emerging technologies space. Through these solutions, our customers will be able to realize the full potential of blockchain and drive transformation in their businesses - executing complex logic to exchange of assets directly, simply and in strict privacy, without the need for costly reconciliation '.

Corda is the world's only enterprise blockchain platform designed to record, manage and synchronise contracts and other shared data between trading partners and to meet the complex requirements of the world's largest financial institutions. As Corda was designed to meet the highest standards of the financial services industry, one of the most complex and highly regulated industries in the world, it can also be applied seamlessly to all other areas of commerce.

With this partnership, NIIT Technologies has joined R3's global network of more than 200 of the world's largest

financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda.

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