Blockchain solutions provider Finzat Block announced a recent partnership with asset-liability managing firm Thomas Ho Company (THC) to improve community financial institutions by upgrading the loan markets and their asset-liability management capabilities, according to a press release dated September 25.
Finzat operates under the investment company Block One, and focuses on early stage and high growth opportunities in the blockchain industry. Together, they will allow community banks and credit unions to have access to streamlined financial services, especially in terms of improving the participants’ operations, strengthening security protocols, shortening transaction time, leading to increased profitability, an article from Nasdaq explained.
The partnership will greatly benefit Finzat, especially that it has recently named financial guru Alex Pollock as Senior Advisor as well. With its recent arsenal, it will be in a pivotal position to become a prominent competitor in the $10-Trillion US residential mortgage market.
Dr. Gnanesh Coomaraswamy, CEO of Finzat, said that the newly-formed partnership possesses “significant possibilities to create a meaningful blockchain network effect.”
As the President of the Federal Home Loan Bank of Chicago, Dr. Pollock created the highly acclaimed Mortgage Partnership Finance (MPF) Program, wherein Dr. Coomaraswamy was also part of its senior team. Now, the Federal Home Loan Bank mortgage acquisition programs total over $55 Billion.
Of Similar Caliber
It would also appear that THC benefits greatly from the partnership as well, as Finzat’s executives are of similar caliber as Dr. Thomas Ho, who is the CEO of THC.
Dr. Ho said in the press release:
“THC is delighted to partner with Finzat, whose management team has a track record of outstanding achievement in the mortgage market and has acquired the utility blockchain technologies. Finzat will complement THC’s asset-liability management analytical and loan transaction technologies.”
THC’s extensive network covers a vast array of loan types including automobile, residential 1-4’s, home equity line of credits (HELOCs), SBA 7a’s, SBA 504’s, and multifamily and commercial real estate with comprehensive balance sheet analytics.
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