R3 marks significant milestone with SAP integration
Commerzbank successfully completed an end-to-end integration of SAP S/4HANA business processes and R3’s Corda blockchain platform. This is a significant milestone as it demonstrates that blockchain technology can be easily integrated with software from SAP, the third largest independent software provider in the world.
By merging corporate SAP systems with distributed ledger technology, corporate clients can improve the efficiency of their trade and supply chain finance services. The deployment of Corda to the SAP Cloud Platform offers the opportunity to integrate technologies such as API Management, Machine Learning and Analytics.
Such an approach enables corporations to operate on a highly distributed but permission based and secure platform while fuelling the next wave of business innovations and utilizing the key benefits of blockchain-based technologies – trust, transparency and scalability.
Commerzbank is a member of R3’s global network and an active participant in a number of R3 initiatives on use cases in areas such as trade finance. SAP is actively collaborating with both R3 and R3 members.
“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 the platform with SAP’s business processes is a further milestone in enabling widespread adoption of Corda by businesses around the globe,” said David E. Rutter, Chief Executive Officer, R3.
