What is Ledger as a service?

Fortunately, there’s new, flexible ledger software called “ledger as a service” that can help scale financial use cases quickly, enable new technology builds, and track financial services more efficiently. In this article, we introduce FinTech builders to modern ledger technology that "rocks" in a different way. Read on to learn about:

Why do we need a ledger?

Businesses and financial institutions have used ledgers for thousands of years to keep track of customers’ accounts, balances, key events, or money movement transactions. For FinTech developers today, the necessity for an accurate book of record still remains.

What is a bank Ledger?

Ledgers for traditional banks: The ledger is an integral part of a bank’s “core” operating system, acting as the data foundation that facilitates transactions. A bank’s core system houses all of the account information for their customers and is also responsible for powering the workflows of a bank’s products.