Italian banking reconciliation platform Spunta adds another 23 members
Yesterday Finextra reported that another 23 banks have joined Italian’s Spunta platform , on top of the 32 that have been present at the launch of the system a month ago . The project’s goal is to simplify the reconciliation of interbank transfers, which for the time being is a pain-staking bilateral process. It has been sponsored by the Italian Bankers’ Association ABI . The underlying technology is based on Corda [4,5] with ABI Labs coordinating the work of R3, NTT Data and SIA [6-9].