New Street News

30th November 2017

Federal Bank, New Street team up for priority sector lending on Blockchain

Federal Bank and New Street Tech, a blockchain enterprise based in India and the Middle East, announced joining forces to deliver priority sector lending to modest income customers across India. This will be delivered over MiFiX, New Street Tech’s proprietary blockchain platform for BFSI sector. The partnership aims to dramatically improve MFI lending by reducing TAT by 5X over legacy micro-lending processes.