Samsung SDS Unveils Financial Platform …

Samsung SDS Unveils Financial Platform …

Samsung SDS Unveils Artificial Intelligence and Blockchain-Based Financial Platform Nexfinance

Samsung SDS, the IT arm of South Korea’s Samsung Group, has announced plans to launch an innovative Nexfinance platform that leverages blockchain technology and artificial intelligence to improve digital finance, Business Korea writes..

Samsung SDS Finance Chief Yu Hong-yun said at an event this Monday, “We plan to grow our digital finance business with Nexfinance, a digital financial platform that brings together proven and emerging technologies.”.

Nexfinance will provide its users with solutions such as digital identity, AI-powered virtual assistant, financial dispatcher and automatic premiums. The platform will support financial companies wishing to develop in the field of digital financial services by providing them with secure tools.

Blockchain will be used by the platform for digital user identification, and AI and “big data” will support other Nexfinance services..

“We have completed the development of the insurance industry-focused part of the Nexfinance platform and will continue to work on the development of the digital finance industry,” said Hong Won-fuu, CEO of Samsung SDS. “Nexfinance is a platform that will make it easy to use new IT technologies and various external solutions, thanks to which financial institutions can actively and flexibly respond to the rapidly changing conditions in the field of finance on the Internet.”.

Samsung SDS Unveils Financial Platform ...

Samsung SDS announced last year that it is working with the Seoul authorities to integrate blockchain into municipal services. The capital’s public transport, healthcare and social programs are expected to be transferred to blockchain by 2022.

Earlier Samsung SDS introduced Nexledger – another blockchain platform focused on digital payments, identification and authentication of corporate clients.

In April, the company announced its intention to use blockchain in global supply chains..

Samsung SDS Unveils Financial Platform ...

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