labs@atheron:~/industries/finance/blockchains$ launch chain --validators

Fintech settlement

A private ledger for settlement between partners.

Reconciliation exists because each party keeps its own copy of the truth. When several institutions need one record that none of them can rewrite alone, a private permissioned ledger is the narrow case where a chain earns its cost. When one party can be trusted to hold it, a database is cheaper.

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// what matters here

What is different in this industry.

One record, several keepers

Each institution runs a node and signs what it writes, so the record is the same everywhere and a change after the fact is visible to all.

No tokens, no public network

Settlement data is confidential. A permissioned chain keeps it among the parties with no cryptocurrency and no public fees.

Breaks found the same day

A transfer one party recorded and another did not is flagged when it happens, instead of in a month-end spreadsheet.

Fits beside your core systems

The ledger takes events from the systems you already run and feeds their reports back, so operations keep their tools.

// example projects

Priced examples for this service.

Each one is hypothetical, labelled as such, and priced live from our rate card. Open any of them in the estimator and make it yours.

Example projectWeb appBlockchain

Partner settlement ledger

Hypothetical. Not a client, not a result.

// The problem

A payments company and its partner institutions each keep their own record of transfers and settlements, and month end is a dispute over whose record is right.

// What we would build

A private permissioned ledger where each party runs a node and every transfer and settlement is written once and read by all, with a web console for operations staff. If one party is trusted to keep the record, a shared database is cheaper and we will say so.

// What is in it

Settled amounts posted to the books in QuickBooks Online, built on the QuickBooks Online API
A node for the company and for each partner institution
Transfers and settlements recorded once, with each party's signature
Breaks flagged the day they happen, not at month end
A console for operations to investigate and resolve a break
Exports for auditors and each partner's own systems

// Stack

Hyperledger Besu (private, permissioned)
Next.js
PostgreSQL
Kafka
AWS

// estimate

Build: ≈ US$164,000 to US$251,000, delivered within 44 weeksCAD 233,300 to 356,800
Hosting: ≈ US$492 a monthCAD 700 a month
Support: ≈ US$2,500 a monthCAD 3,565 a month

Prices in your currency are estimates from today's Bank of Canada rate. All invoicing is in CAD or USD.

Timeline by milestone

Discovery: 2.9 to 3.4 weeks
Architecture: 0.4 weeks
Data mapping and sandbox connection: 0.4 weeks
Design approved: 2.9 to 4.9 weeks
Core features: 1.9 to 3.4 weeks
Full build: 1.4 to 2.4 weeks
Devnet: 4.4 to 7.4 weeks
Sync built and reconciled in sandbox: 1.4 to 2.4 weeks
Testing and fixes: 0.4 weeks
Testnet: 2.9 to 3.4 weeks
Regulatory reports accepted: 2.9 to 3.4 weeks
Controls built and evidenced: 2.9 to 3.4 weeks
Readiness review: 2.9 to 3.4 weeks
Launch: 0.9 to 1.4 weeks
Mainnet: 0.9 to 1.4 weeks
Live cutover: 0.9 to 1.4 weeks
Hypercare: 0.9 to 1.4 weeks
Observation window (auditor): 26 weeks
Auditor report (SOC 2 Type II): 4 to 8 weeks

Outside our hands, and added to the calendar

Sandbox and API access from the vendor: 1 to 4 weeks
Readiness review with your auditor: 6 to 12 weeks
Booking a penetration tester and their report: 2 to 4 weeks

How it is paid

Deposit 20%: CAD 46,660 to 71,360
Discovery 1.5%: CAD 3,499.50 to 5,352.00
Architecture 4%: CAD 9,332 to 14,272
Data mapping and sandbox connection 1.1%: CAD 2,566.30 to 3,924.80
Design approved 1.5%: CAD 3,499.50 to 5,352.00
Core features 4.5%: CAD 10,498.50 to 16,056.00
Full build 3%: CAD 6,999 to 10,704
Devnet 12.2%: CAD 28,462.60 to 43,529.60
Sync built and reconciled in sandbox 3.3%: CAD 7,698.90 to 11,774.40
Testing and fixes 1.5%: CAD 3,499.50 to 5,352.00
Testnet 8.1%: CAD 18,897.30 to 28,900.80
Regulatory reports accepted 7%: CAD 16,331 to 24,976
Controls built and evidenced 7%: CAD 16,331 to 24,976
Readiness review 7%: CAD 16,331 to 24,976
Launch 1.5%: CAD 3,499.50 to 5,352.00
Mainnet 4%: CAD 9,332 to 14,272
Live cutover 1.1%: CAD 2,566.30 to 3,924.80
Hypercare 1.7%: CAD 3,966.10 to 6,065.60
Holdback, 30 days after launch (10%): CAD 23,330 to 35,680

Start from this example

// questions

Questions we get about this.

Is a ledger worth it with only two partners?

Often not. With two parties and a clear owner of the record, a shared database with signed entries is cheaper. A ledger starts to pay off when several institutions write to the same record.

Does settlement on a private chain move money?

No. Money still moves through the payment rails you use today. The ledger records what each party says was sent and settled, so everyone works from the same list.

Who runs the nodes of a fintech settlement ledger?

Each participant runs its own, in its own cloud or data centre. We set up the network, the permissions and the monitoring, and hand each party what it needs to operate its node.

Back to the industry: Finance and fintech About the service: Private and public blockchains

// next

Not quite your project?

Tell us what you have in mind. We will come back to you with a range and the questions that would narrow it. Or book a call and talk it through.

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