Infosys rose 1.86% to 1,578.55 rupees after Infosys Public Services, a US branch of IT major, piloted a blockchain solution to improve the efficiency, access and security of critical records in Riverside County (USA).

The blockchain network enables county employees to manage data effectively and securely while making access easier and lowering operating costs. The pilot blockchain network, developed in partnership with Amazon Web Services, Inc. (AWS) using Amazon Managed Blockchain, modernizes the once paper-centric operation of the Riverside County Assessor-County Clerk-Recorder Office. The introduction of blockchain technology enables the Office to store, recreate and retrieve verifiable digital records, reducing the need for physical storage. The solution will also give citizens faster and more accurate access to their records.

Eric Paternoster, Chief Executive Officer (CEO) of Infosys Public Services (IPS) said, “Blockchain technology offers governments a new opportunity to advance their digital agendas and move into the next era of more secure, community-oriented services. We are excited about this project with the Riverside County Assessor-County Clerk-Recorder Office and appreciate the opportunity to demonstrate how blockchain can enable the county to become more digital, connected and secure. ”

The announcement was made after close of trading on Tuesday, July 20, 2021. The markets were closed on Wednesday, July 21, 2021 due to Eid al-Adha.

Meanwhile, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and Santander UK, announced on Wednesday that Santander UK’s international cash management platform would be launched as part of the bank’s ongoing digital transformation program.

Santander Global Connect is a brand new cash management platform designed to support the international growth plans for their corporate and commercial customers. The first version of the platform, which is currently in the pilot stage, gives customers access to the liquidity held worldwide. Subsequent releases will enable digital self-service capabilities to manage, control and mitigate cash and business risks through a single portal.

Infosys’ consolidated net income increased 2.3% to Rs.5,195 billion, while sales increased 6% to Rs.27,896 billion for June 1, 2021 compared to March 4, 2021.

Infosys is a leading global provider of next generation digital services and advice.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)

Dear Reader,

Business Standard has always endeavored to provide updated information and commentary on developments that are of interest to you and that have far-reaching political and economic implications for the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our determination and commitment to these ideals. Even in these troubled times resulting from Covid-19, we continue to strive to keep you updated with credible news, authoritative views, and concise comments on current affairs.
However, we have a request.

In the fight against the economic effects of the pandemic, we need your support even more so that we can continue to offer you high-quality content. Our subscription model has had an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are dedicated.

Support quality journalism and Subscribe to Business Standard.

Digital editor