| The name of the base system (platform): | Projects based on blockchain technology |
| Developers: | Samsung SDS |
| Date of the premiere of the system: | June, 2018 |
2018: Start of a blockchain platform
At the beginning of June, 2018 the Samsung SDS company started the financial platform under the name Nexfinance which is based on a blockchain and artificial intelligence. A system issues recommendations about products, also many other things manage programs of loyalty in credit cards.
Nexfinance is urged to help banks to cut down expenses, to minimize risks in information security field and to optimize financial transactions.
The applications allowing to automate processes of control and integration of financial statements from different banks and financial institutions are a part of Nexfinance.
The platform includes the chat-bot which advises the companies concerning sales of online products to clients depending on financial conditions.
One more Nexfinance component is digital identification (Digital Identity) which ciphers personal data of clients through the distributed registers and checks them in different banks.
The solution is also proposed by the service of asset management relying on AI algorithms and the analysis of Big Data. Besides, by means of a blockchain platform clients will be able to process statements for payment of an insurance indemnity without use of manual work of staff of insurance company, medical institution or the company which imposed an insurance claim.
In Samsung SDS say that the blockchain allows to carry out faultless verification of participants of the economic relations and also to perform safe exchange of personal data.
According to the CEO of Samsung SDS Hong Vaughan-pyo, thanks to Nexfinance financial institutions will be able actively and flexibly to react to the changing conditions in the financial IT sphere. To Samsung SDS she intends to become the partner of digital transformation of the financial industry. In June, 2018 the company already began to advance the blockchain platform in the financial sector.[1]
Notes
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