Trimont provides loan services for $700 billion in US commercial real estate loans. It has now adopted Kinexys by JP Morgan to enable programmable payments 24/7, executing the first transaction in August.
While banks conventionally support simple conditional payments, most DLT-based programmable payments add only marginally more complexity. The Trimont solution demonstrates how companies can combine their internal data with payments to achieve major benefits.
It will use smart contracts to check incoming loan repayments from borrowers, ensuring they are the correct amount. Then it will automatically distribute the payments to the lender, reducing the outgoing payment time by as much as two days. That can only be done by integrating Trimont’s internal loan data.
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