Financial Disbursements Digital Ledger
Blockchain technology has the potential to improve end-to-end traceability of funds disbursed by financial agencies by providing greater transparency and trust traceability. Global bank organizations are required to ensure that the proceeds of loans are used for intended purposes. However, most projects involve many participant organizations such as intermediary agencies, service and product vendors, and non-governmental organizations (NGOs) that handle funds before they reach the intended beneficiaries of the loans.
inQ’s Loan Disbursement Blockchain Solution provides the following features:
- Digitally-secured original records, invoices, etc.
- Real-time access to immutable records
- Traceable and transparent loan disbursement data
Current solutions are not suited for operation on a true global basis and cannot provide traceability for the usage of funds and which participants are paid with the initial loan disbursements. InQ’s distributed ledger solution addresses key challenges facing organizations that disburse funds including:
Limited traceability of funds after loans are disbursed
Funds passing through separate financial management systems
Difficulty in obtaining records post pay-off
Labor intensive and time consuming transactions reconciliation
Addressing demands for greater transparency and access to records and documents from key stakeholders, including donors and auditors
Disbursements Digital Ledger Features
|Traceability Assurance||Secure, immutable artifacts for authorized review and audit|
|Multi-Party Administration||Multi-level, role-based access rights management interfaces|
|Digital Wallets||Multi-signature mobile app with certificates, key management and 3rd party authorization network|
|Real-Time Reporting||Insights that enable you to monitor data in support of quality, performance, cost and efficiency objectives|
|Smart Data Manager||AI, scoring, and data management software and infrastructure that helps transportation managers get the most insight from deployed sensor environments in the least amount of time|
|Data & Process Integration||Application program interfaces (APIs) to ensure that the blockchain solution is compatible with existing legacy systems, partner systems and disparate communication networks across the globe|
|Artifact Storage||Content-agnostic IPFS storage for high performance, reliable record keeping|
Engaging with inQ for your loan disbursement initiative delivers blockchain expertise to ensure that your financial tracking and auditing efforts leverage this transformative technology to full potential to deliver transparency to stakeholders and end-to-end traceability of funds. inQ offers guidance and implementation for blockchain solutions that track loan funds. We focus on listening to your requirements, your needs and concerns, so that we can understand your mission and deliver a solution that is thoughtful, intelligent, and scalable. Start your blockchain journey today with inQ blockchain solutions for financial tracking and loan disbursement.
A complete solution that considers the trust and security requirements of users, the primary issuing authority as well as validation partner entities
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inQ is always ready to partner with your in-house staff providing blockchain expertise, training and powerful integration technology