" class="no-js "lang="en-US"> Blockchain-Plattform Corda von R3 wird in SAP-Geschäftsprozesse integriert - Fintech Finance
Thursday, May 30, 2024

Blockchain-Plattform Corda von R3 wird in SAP-Geschäftsprozesse integriert

Commerzbank has successfully completed with the support of the software developer SAP seamless (end-to-end) integration between SAP business processes and the block chain platform Corda. The business processes are based on S / 4hana, an SAP software for resource planning (enterprise resource planning, ERP). In Corda is a platform of business software provider R3.

Based on the Distributed ledger Technology (DLT), which allows a special form of electronic data processing and storage in a distributed database that companies can continue on the Enterprise Resource Planning (ERP) system (system for resource planning) of SAP use to improve access to new business models. Unlike the Distributed ledger technology the data is located within an ERP system in a central database. With this integration is a new development step with the network of supply chains (supply) can be optimized. This allows companies a better and more efficient access to international commercial transactions and will enable seamless digital process management for future new solutions to trade finance (trade financing). In this way, companies can gain greater insight into complex supply chains and increase efficiency, while reducing costs and increase the speed of trades.

By using the block chain technology Corda in the SAP cloud platform the existing application programming interfaces (API application programming interface) can be used to provide a cross-industry access to all SAP networks and systems. The integration of the ERP system from SAP in the Corda platform in turn gives companies the opportunity to use other technologies and features in addition to the API management. Including machine learning (AI Artificial Intelligence), Internet of Things (IoT, Internet of Things) and the use and analysis of data. They could conduct their business activities via a secure and permission-based platform company. At the same time allows this platform to drive the next wave of business innovation and the benefits block chain-based technologies – ideal to use – trust, transparency and scalability.

Commerzbank is a member of R3 Consortium, and actively participates in various R3 initiatives around several practical applications in areas such as trade finance. SAP is working both directly with the R3 consortium as well as individual members R3.

The successful connection test between Corda and SAP – as an important provider of ERP systems – is an extremely significant milestone in the development and implementation of digital product solutions. In the area of trade finance we see on the one hand, great potential, but also the need for digital data flows along the supply chain of companies to support the other side. This is only possible when ERP systems are connected to new DLT networks and platforms. We will incorporate the results of technical tests in our ongoing projects with R3 and want the SAP connection with Corda in future pilot transactions test,” said Nikolaus Giesbert, Executive Vice President Fixed Income, Currencies & Commodities and Trade Finance & Cash Management, Commerzbank AG.

We are working with our partners to develop on the basis of Corda a powerful ecosystem of applications. Here, trade finance is a priority area for R3. The integration of the platform into business processes from SAP is another milestone, the company will allow the full application of Corda world,” said David E. Rutter, Chief Executive Officer of R3.

This technical proof of concept (PoC proof of concept), which was performed in cooperation with Commerzbank, has shown how easy it can replace SAP S / 4hana data on the SAP cloud with the R3 Corda Netwerk” says Falk Rieker, global head of IBU Banking, SAP.

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