Fintech

Meet the man who wants to save banks billions

R3 founder David Rutter has brought together a collection of banks to develop blockchain technology. The savings could be huge

David Rutter of R3
David Rutter of R3 Photo: Photography: Micha Theiner

David Rutter, the founder and chief executive of R3, is one of the people who could hold the keys to a technological revolution that could shake up the financial services industry.

His company has brought together almost 80 banks and financial services providers from all over the world to develop blockchain technology, a public ledger that is maintained by a network of computers on the internet and secured through the use of advanced cryptography.

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