Othera wins pilots with EY and ABN AMRO

By David Tuckwell on Friday 21 July 2017

Alternative LendingDigital Banking

Aussie blockchain provider Othera has won pilot programmes with EY and ABN AMRO

Finding Aussie banks closed-minded on blockchain, Othera has bagged wins overseas. 

Australian blockchain start-up Othera has been awarded two international business pilots, one with consultancy giant EY, another with Dutch banking major ABN AMRO. 

This grants Othera the opportunity to take part in 100-day scope of works programme with both companies, and then two pilot programmes in early 2018.

“More than 5000 start-ups applied and we were pleased to be selected,” Othera CEO, John Pellew told AltFi.

“We were thrilled to have been granted two of the 25 pilots that were on offer… These pilots provide us with an incredible opportunity to expand Othera into the European market.”

The programmes will give Othera the chance to work with both companies for 100 days in the lead up to the commencement of a pilot.

Othera anticipates that the ABN AMRO pilot will help them to identify stakeholders and establish partnerships with people in the bank, who can assist with delivering and testing their blockchain solution.

Similarly, the EY pilot will provide Othera with access to key EY team members who will help with strategic integration of the technology into EY’s current systems.

Asked by AltFi why no Australian banking partner was forthcoming, Mr Pellew said that Australian banks were not as open to blockchain as banks overseas.

“We’d love to work with the Australian banks but there has been no opportunity and we’ve had to start looking offshore,” he said.

“Australian banks have been reluctant to invest and work with fintechs. It does suggest to us that Australian banks aren’t ready to lead innovation in this market, like those in Europe and the U.K.”

The next step for Othera is to collaborate with ABN AMRO and EY to validate the propositions and plan the partnership form. Then the pilots will commence in 2018.

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.