msg, a large IT consulting and system-integration company based in Germany, has formalised a strategic alliance with Marco Polo, a distributed trade finance network.

This alliance marks the first time the global IT firm is partnering with a trade finance DLT (Distributed Ledger Technology) network, according to the official press release. Powered by the distributed platform from TradeIX and R3’s Corda blockchain, Marco Polo offers and allows participants access to trade and working capital solutions. The trade finance network has over 35 financial institutions and partners such as Microsoft, Pole Star, and Accenture.

msg’ has SAP expertise, and thus, this collaboration focuses on developing SAP-enabled solutions and extensions that will facilitate integration, user experience, and real-time data exchange between an organisation’s ERP systems and the Marco Polo Network. 

This partnership opens opportunities for both Marco Polo and msg’s clients and partners, particularly in the insurance and financial sectors to co-develop and provide insurance offerings on the network, alongside already available financial products, through a unified portal and managed service.