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NEW YORK, 20 October 2020 / PRNewswire / – Mphasis, an information technology (IT) solutions provider specializing in cloud is cognitive services, today announced its partnership with R3, a world-leading enterprise software company, to jointly create innovative blockchain-enabled payment solutions and bring them to market. Leveraging R3’s blockchain platform, Corda, Mphasis is strategically extending its portfolio of technology solutions for payments and commercial finance.
The partnership will focus on accelerating ALTATM, the digital payments and supply chain finance ecosystem formed by Mphasis to connect global businesses, their supply chains and a wide range of financial services and infrastructure providers into a modern value transfer network for commerce global. The solution will provide Mphasis customers with access to a suite of next-generation payment, working capital and foreign currency services that can be seamlessly deployed on Corda. Corda is a blockchain platform that removes costly friction in business transactions in every industry, from financial and health services to oil and gas. It allows institutions to transact directly using smart contracts, ensuring the highest levels of privacy and security.
Recent events have highlighted the fundamental role that financial resilience plays in the sustainability of any supply chain and the structural gaps that still exist in the way funding is traditionally distributed. The innovative collaboration with R3 will allow small and medium-sized enterprises, which are typically the weakest link in most supply chains, to easily and digitally access working capital and other financial services that will help strengthen and strengthen their entire supply chain. Thanks to scalability, low latency and the encrypted environment in which Corda operates, the solution is optimized for business cases that require institutional level controls in terms of reliability and availability.
“Through the HIGHTM Payments Innovation Program – a part of the Sparkle Innovation Lab -, we have been working on various ways to transform traditional commercial assets into tokenized and liquid tools that can serve as the foundation for a new digital and networked value transfer ecosystem, “he said. Srikumar Ramanathan, Senior Vice President and Global Head – Industry Solutions Group (ISG), Mphasis. “The partnership with R3 will allow us to accelerate co-development and go-to-market on the Corda platform.”
By implementing a network-based model in what has traditionally been a linear, point-to-point approach, businesses and their supply chains can unlock much needed working capital, while banks and lenders can significantly increase the return on asset-weighted assets. risk (RWA) and scale vendor adoption.
“To support a meaningful and sustainable reactivation of global supply chains, we need to adopt more flexible, efficient and resilient models that enable a higher level of visibility and collaboration between banks, buyers and suppliers. We are excited to work together with Mphasis to create solutions. payment systems based on blockchain, “he said Dorothy Copeland, Global Head of Alliance and Ecosystems, R3.
About Mphasis
Mphasis (BSE: 526299; NSE: MPHASIS), applies next-generation technology to help enterprises transform businesses globally. Customer centrality is fundamental for Mphasis and is reflected in Mphasis’ Front2Back ™ Transformation approach. Front2Back ™ uses the exponential power of the cloud and cognitive to deliver hyper-personalized (C = X2C2 TM= 1) digital experiences for customers and their end customers. Mphasis’ approach to service transformation helps to “shrink the core” through the application of digital technologies in legacy environments within an enterprise, enabling companies to keep pace in a changing world. The main architectures and reference tools of Mphasis, speed and innovation with competence and specialization in the sector are fundamental to build solid relationships with major customers. Click here to find out more.
About R3
R3 is an enterprise blockchain software company working with a global ecosystem of over 350 participants across multiple sectors from both the public and private sectors to develop on Corda, its open source blockchain platform, and Corda Enterprise, a commercial version of Corda for businesses use.
R3’s global team of over 350 professionals in 14 countries is supported by over 2,000 technology, financial and legal experts drawn from its vibrant ecosystem.
The Corda platform is already used in industries, from financial services to healthcare, shipping, insurance, and more. Record, manage and execute financial arrangements of institutions in perfect sync with their peers, creating a frictionless world of commerce. More information on www.r3.com and www.corda.net.
SOURCE Mphasis
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http://www.mphasis.com
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