There are Distributed Ledger Technologies (DLT) in the market which cater to multiple industries and their privacy needs based on the use case. But the finance industry has to deal with some standard contracts and trades which are usual in nature and have pre-defined economic attributes. In order to have least turn-around time and DLT implementation Corda has designed an architecture specific to financial agreements and manage financial assets. This would allow global adoption across the financial industry and thereby end up creating industry technology standards for DLT.
Corda began as a single global ledger but when the transaction involves a small subgroup of parties, corda tries to keep the relevant data purely within the subgroup. Corda is a permissioned blockchain which gives the control of government to the organizations participating in the transaction. Corda, designed specifically for the finance industry tackles the issues of privacy and scalability but reaching a consensus on the participants involved in the transaction level and not inside the distributed ledger level making it better suited for the financial industry. Corda is mostly inclined towards handling complex transactions in addition to restricting access to highly sensitive data