Samsung SDS Partners with Global Companies to Target European Financial Market

Collaboration between Credolox and 'Blockchain and RPA Solution-Based Payment Platform Business'
Samsung SDS Enterprise Blockchain Platform Applied to Credolox Payment Platform

From the left on the monitor screen are Samsung SDS's CEO Hong Won-pyo, Strategy Planning Manager Lim Su-hyun, and Blockchain Center Head Hong Hye-jin. Next to the monitor, from the left, are Moshe Selfin, CTO of Credolox, Lim Jong-chil, Head of Samsung SDS Europe, and Igal Rotem, CEO of Credolox.

[Asia Economy Reporter Jin-gyu Lee] Samsung SDS is teaming up with an Israeli company to target the European market.

On the 4th, Samsung SDS announced that it signed an agreement with Israeli company Credorax for 'collaboration on a payment platform business based on blockchain and robotic process automation (RPA) solutions.'

Credorax provides solutions and services for transaction processing such as payment and settlement that occur during card payments in more than 30 European countries, and also operates in the United States, Japan, China, and other countries.

Credorax plans to apply Samsung SDS's enterprise blockchain platform, 'Nexledger Universal,' to its payment platform to enhance security, transaction processing speed, and reliability. Nexledger Universal offers a standard API that can be commonly applied to Samsung SDS's proprietary distributed consensus technology (NCA) and general blockchain technologies such as Hyperledger Fabric and Ethereum, and it can be easily used and scaled on a cloud-based environment.

Additionally, Credorax intends to apply Samsung SDS's AI-based RPA solution, 'Bristy Works,' to its payment platform, accounting systems, and business processes to automate tasks and improve efficiency. Bristy Works has been adopted by over 30 companies including Samsung Electronics, Samsung Securities, Samsung Electro-Mechanics, Suhyup Bank, and E-Land, and is used for automating tasks such as material status analysis, customer response, and sales management.

Through this collaboration, the two companies will jointly explore new business opportunities targeting the e-commerce, banking, and fintech sectors within the European market.

Hong Won-pyo, CEO of Samsung SDS, said, "We will actively target the European market with Credorax, which has specialized capabilities in payment processing, and further expand our digital transformation-related business for global corporate clients."

Igor Rotem, CEO of Credorax, stated, "We expect to innovate B2B transactions, system operations, and accounting processes by combining Samsung SDS's blockchain technology and RPA solutions with Credorax's payment platform."

This content was produced with the assistance of AI translation services.