Today, Samsung SDS announced a partnership with Israel-based fintech and payments firm Credorax to collaborate on enterprise blockchain and Robotic Process Automation (RPA) based account reconciliation platform business. The two will work on business opportunities targeting e-commerce, banking, and fintech in the European market.
Credoraxisa licensed acquiring bank that providessolutions for creditcard payment processing toe-commerce and omnichannel merchants. The company has a presence inover 30 European countries, the United States, Japan and China. Thefirm aims to leverage Samsung’s NexledgerUniversal blockchainplatformto improve efficiency, security and speed of its accountreconciliation platform.
NexledgerUniversal offersa standardized service API that integrates with the in-houseNexledger Consensus Algorithm (NCA) and other blockchaintechnologies, including Hyperledger Fabric and Ethereum. Samsung SDSalsoprovidestools and services to deploy blockchain solutions using its Nexledgerplatform and has worked with several industries in the past.
Meanwhile,Samsung will also applyitsAI-based robotic process automation (RPA) solution, Brity Works, toCredorax’s account reconciliation platform, accounting system andother business processes for automation. Currently, Brity Works isdeployed by 30 companies, including Samsung Electronics, SamsungSecurities andSuhyup Bank, and ETLAND.
“Weexpect to solve key challenges with B2B payments, back-officeoperations, and accounting by integrating Samsung SDS’s matureblockchain platform and RPA solutions with our settlement andreconciliation solution,” said Igal Rotem, CEO of Credorax.
Overthe past year, Samsung SDS has entered intoseveralpartnerships to offer its Nexledger Universal platform to companies.
Twomonths ago, Samsung SDS said it was working with telecoms serviceprovider Syniverse ona blockchain-based mobile payments platform. The duo said NexledgerUniversal would work in tandem with Syniverse’s blockchain solutionUniversal Commerce for clearing and settlement.
Lastyear, the Korean firm said it was working with RPA solutionsprovider Pega tointegrate Nexledger with the Pega Platform. TechMahindra facilitatedthe technical know-how due to its previous relationship withNexledger.
Morerecently, Samsung SDS launched a blockchain-based medicalinsurance claims processingplatform.
Meanwhile,Samsung SDS has previously worked with Koreancustoms forblockchain, and with ABNAMRO forthe trade finance project DELIVER.
