A PROOF OF CONCEPT PAPER BY ANZ & WELLS FARGO 09.2016 DISTRIBUTED LEDGER TECHNOLOGY AND OPPORTUNITIES IN CORRESPONDENT BANKING 554575_BLOCKCHAIN AND OPPORTUNITIES BROCHURE_94237.indd 1 26/09/2016 3:01 pm2 EVERY DAY, PAYMENT DISRUPTORS AND COMPETITORS ACROSS THE GLOBE ARE REMINDING BANKS THAT THE CROSS-BORDER PAYMENT INDUSTRY IS RIPE FOR REJUVENATION, PROMISING FASTER AND LOWER COST ALTERNATIVES TO THE CURRENT INTERNATIONAL PAYMENT PROCESS. CUSTOMERS ARE EXPECTING MORE, AND BANKS ARE INVESTING TO MEET AND EXCEED THOSE EXPECTATIONS. 554575_BLOCKCHAIN AND OPPORTUNITIES BROCHURE_94237.indd 2 26/09/2016 3:01 pm3 To facilitate cross-border payments, banks maintain Correspondent Relationships with foreign banks in order to access their local payment systems. In each rela

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