Competitive Assessment - Onyx and Partior

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Competitive Assessment - Onyx and Partior

Key Takeaways

Introduction

A competitive analysis for Onyx and Partior has been presented leveraging on public websites that report financial news and block chain technologies. A description of each of them has been provided that entails how they work, their performance and overview of leadership. After an exhaustive search, we did not find a public website for Partior. Our research strategy at the end of this brief outlines the research process.

Onyx

  • Onyx by J.P. Morgan is a business unit and a new model for innovation in financial systems for the last 5 years since 2015. It is dedicated to building next generation payment capabilities in the financial services' industry through innovation and cutting-edge technology such as block chain that delivers a better, faster and more inclusive financial system.
  • Onyx strengthens and expands J.P. Morgan's Wholesale Payments platform to provide clients with best-in-class platforms as their business models and banking needs evolve over time. It focuses on building next generation platforms and groundbreaking applications that solve complex challenges and create new opportunities.
  • In 2016, Onyx established Quorum, the first block chain protocol to be open-sourced by a bank, freely available for use and transparent for third-party vetting. Quorum is an enterprise-variant of the Ethereum block chain.
  • In collaboration with the Monetary Authority of Singapore, Onyx developed a prototype that enables payments in different currencies on the same block chain network. In 2016, Project Ubin, a 5-phased project over 5 years kicked off to explore the use of Blockchain and Distributed Ledger Technology for clearing and settlement of payments and securities. It aimed at solving the challenges faced by the financial industry and understanding the potential of block chain application to payments and settlements.
  • In 2018, Onyx demonstrated Dromaius, a blockchain-based prototype for capital markets. Onyx simulated the issuance and transfer of debt securities to demonstrate the potential for distributed ledger technology enabling multiparty automated settlement and shared ledger calculation of interest payments. The blockchain-based platform is designed to streamline operations and make the experience of issuing a financial instrument more seamless and simplified. The project is still underway.
  • In 2019, Onyx unveiled the JPM Coin which enables deposit accounts on a block chain ledger. Onyx designed a network to facilitate instantaneous payments using block chain technology enabling 24/7 business to business money circulation. JPM Coin is a permissioned, shared ledger system that serves as a payment rail and deposit account ledger enabling participating clients to transfer US Dollars held on deposit with J.P. Morgan. It facilitates real-time value movement solving common pain points of traditional cross-border payments and simplifying its clients’ money moving needs.
  • In 2020, Onyx launched Liink, the first production-grade, scalable, peer-to-peer blockchain-based network. It was originally known as Interbank Information Network and launched as a pilot in 2017. It is a network where participants can access a growing collection of applications that can help improve common transaction, trade and information flows. It enables financial institutions and corporate users to make secure, peer-to-peer data transfers with greater speed and control by creating new ways to transfer data. It is a more open and efficient network of information sharing, comprised of many of the largest financial institutions in the world.
  • The leadership team at Onyx includes the following:
    • Umar Farooq is the Chief Executive Officer, Onyx. Prior to this current role, he was the Head of Digital Treasury Services and Head of Blockchain for the Corporate and Investment Bank. He has also served as the Head of CIB Fintech and the CFO for Technology, Operations, and Controls. He joined JP Morgan Chase in 2009.
    • Christine Moy is the Global Head of Liink, Onyx. Previously, she held the position of Executive Director and the Global Head of Blockchain Center of Excellence. She joined J.P. Morgan more than 17 years ago and is one of the founding members of J.P. Morgan’s block chain program.
    • John Hunter is the Founder of Liink. He is also the Managing Director of JP Morgan's Global Clearing. He has worked in cash management and payments services for over 25 years.
    • Naveen Mallela is the Global Head of Coin Systems, Onyx. Naveen led Digital and Treasury Services for APAC. Before J.P. Morgan he was the APAC Head of Financial Services consulting practice for Infosys Lodestone.
    • Jason Tiede Global is the Global Head of Business Development, Onyx . Previously he held the position of Managing Director, and Global Head of FinTech and Wholesale Payments at J.P. Morgan.

Partior

Research Strategy

For this research, we leveraged on the most reputable sources of information that were available in the public domain, including the joint venture companies of J.P. Morgan, DBS, and Temasek. We have also extensively referred to Onyx website. Although we could not find a public website for Partior, we have included information from reliable third party sources.


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