Commerzbank, supported by SAP, has completed an end-to-end integration between SAP S/4HANA business processes and R3’s Corda blockchain platform.
This is the first step towards enhancing the supply chain network of corporate clients to offer more efficient access to trade and supply chain finance services.
Corporations will potentially be able to enhance and leverage their access to future business models based on distributed ledger technology (DLT), via their own corporate SAP system.
By deploying Corda’s secure blockchain to SAP cloud platform, the existing application programming interfaces (API) are utilised to access business networks and systems across all industries.
The deployment opens up the possibility for the Corda platform to integrate other technologies and capabilities such as API management, machine learning, and analytics.
This enables corporations to operate on a highly distributed but permission-based and secure platform while fuelling the next wave of business innovations utilising the key benefits of blockchain-based technologies.
Nikolaus Giesbert, divisional board member, FICC and TFCM, Commerzbank, commented: “The successful connection test between Corda and SAP, as an important enterprise technology provider, is a significant milestone in our journey to develop and implement digital product solutions.”
He continued: “In Trade finance, we see significant potential and the need to support digital data flows along the supply chain of our corporations. This is only possible by connecting enterprise resource planning systems to new DLT networks and platforms. We will share the results of this technical test in our ongoing projects with R3 and aim to use the SAP connection with Corda in future pilot transactions.”
David E. Rutter, CEO, R3, said: “Trade finance is a key area of focus for R3 as we work with our partners to develop a vibrant ecosystem of applications on Corda. Integrating on the platform with SAP’s business processes is a further milestone in enabling widespread adoption of Corda by businesses around the globe.”
Falk Rieker, global head of IBU Banking, added: “This proof of concept, collaborating with Commerzbank, has shown the ease with which SAP S/4HANA via SAP cloud platform can easily exchange data with R3’s Corda network.”
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