Head of R3 Shares Perspective on Banking Amid Pandemic

David Rutter is in charge of R3 and shares his perspective on the current environment; he stated to City A.M, “During crisis periods, when markets go through extreme stress, you see where the cracks are, and there are solutions that exist to avoid them. [This crisis] may be an accelerant for the deployment of new technologies.” There has been a lot written lately about the backlog of loan applications at the large banks as small businesses desperately seek funding; Rutter believes that the current crisis will force banks to change their technology systems once they have the opportunity to reflect on this time; R3 believes they can solve some of these pain points with their Corda blockchain platform; Rutter has apparently been spending time with governments and other organizations to help during this crisis but wouldn’t go into detail on specifics. City A.M.

Sign up for our Newsletters

Every morning the LendIt Fintech News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!