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Samsung SDS to Provide Its Blockchain Platform to Credorax of Israel
Credorax to Use Samsung SDS' AI Solutions
Samsung SDS to Provide Its Blockchain Platform to Credorax of Israel
  • By Yoon Young-sil
  • March 5, 2020, 10:27
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Lim Jong-chil (center), managing director of Samsung SDS Europe, shakes hands with Moshe Selfin, COO and CTO of Credorax, after signing an agreement at Credorax’s main office in Israel on March 3.

Samsung SDS has signed an agreement with Credorax of Israel to collaborate in the payment settlement platform business based on its blockchain and robot process automation (RPA) solutions.

Headquartered in Israel, Credorax offers services in more than 30 countries in Europe to handle transactions such as payment and settlement that occur during card payments. The company also operates in the United States, Japan and China.

Credorax plans to apply Samsung SDS's enterprise blockchain platform NexLedger Universal to its payment platform to boost security, transaction processing speed, and reliability.

NexLedger Universal provides application programming interfaces (APIs) that can be applied to Samsung SDS' own NCA technology, HyperLedger Fabric which is general blockchain technology, and Ethereum, and can be easily used and expanded based on cloud computing.

In addition, Credorax plans to automate tasks and increase efficiency by applying Samsung SDS' AI-based RPA solution “Brity Works” to payment platforms, accounting systems and business processes.

The two companies will jointly explore new business opportunities in the e-commerce, banking and fintech sectors in the European market.