United States, Oct. 21, 2020 / AlexaBlockchain/ – Mphasis, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, has partnered with R3, a leading global enterprise software firm, to jointly create innovative blockchain-enabled payment and financing solution.
Through this partnership, Mphasis is strategically extending its Payments and Trade Finance technology solutions portfolio.
Mphasis announced in a press release that the partnership will focus on the acceleration of ALTATM, the digital payments and supply chain finance ecosystem formed by Mphasis to connect global enterprises, their supply chains, and a wide range of financial services and infrastructure providers into a modern value transfer network for global trade.
The solution will leverage R3’s blockchain platform, Corda. The solution will provide Mphasis customers with access to a suite of next generation payments, working capital, and Foreign Exchange services that can be seamlessly deployed on Corda. Corda is a blockchain platform that removes costly friction in business transactions across every industry, from financial services and healthcare to oil and gas. It enables institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.
Srikumar Ramanathan, Senior Vice President & Global head – Industry Solutions Group (ISG), Mphasis, said, “Through the ALTATM Payments Innovation Program – a part of the Sparkle Innovation Lab –, we have been working on various ways to transform traditional trade assets into tokenized, liquid instruments that can serve as the basis for a new digital, networked value transfer ecosystem. The partnership with R3 will allow us to accelerate co-development and go-to-market on the Corda platform.”