Credorax, Samsung SDS Europe to develop Next-Gen account reconciliation solution

Tuesday 3 March 2020 12:36 CET | News

Credorax has signed a memorandum of understanding (MoU) with Samsung SDS Europe (SDSE) to develop and bring to market Credorax’s fully automated, distributed ledger-based account reconciliation platform.

The MoU additionally marks the intention to collaborate on and implement Samsung SDS’s Robotic Process Automation (RPA) solution, Brity Works for financial services. The MoU and shared initiative will leverage global Open Banking initiatives, Samsung SDS's Nexledger Universal platform, and Credorax’s industry expertise to provide a solution that will automatically reconcile payments, remittances, and invoices with bank records.

The MoU also aims to boost Credorax’s chargeback management solution through the integration of Samsung SDS Brity Works RPA, which reduces human error by automating processes without the need to integrate with card scheme systems, according to the official press release. Credorax processes payments across the EU and EEA and offers products and solutions to ecommerce and brick-and-mortar merchants.

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Keywords: Credorax, Samsung SDS Europe, distributed ledger, account reconciliation, MOU, merchants, parnetship, Robotic Process Automation, remittances, invoices
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech