1. Financial Markets
Business challenge
When your business pays an invoice, how do you know your money is going to the right account? To help make payments safer, SiS wanted to provide a trustworthy source of verified bank data for its clients.
Transformation
SiS built a blockchain in the IBM Cloud that acts as a tamper-proof repository of verified bank information, and developed a service that helps clients check transactions and detect anomalies in seconds.
“IBM Cloud is an ideal platform for building a microservices architecture.”
—Laurent Sarrat, Co-founder & Managing Director, SiS
Laurent Sarrat, Co-founder & Managing Director, SiS
Business benefits:
Defends
against fraud by verifying over 160,000 supplier bank accounts
80%
reduction in manual fraud control workload
Agile
cloud architecture helps SiS scale up as its community of clients grows
SiS
Protecting companies from payment fraud with tamper- proof blockchain-based identity validation
Solution components
Hyperledger
IBM® API Connect
IBM Cloud™ Container Service
IBM Compose for MongoDB
Client Name
SiS
Company Background
SiS is a technology startup that focuses on providing a payment data repository for companies in France and across Europe. The company has harnessed blockchain technology to build a tamper-proof shared ledger of verified payment information for thousands of companies, combined with highly responsive web services designed to authenticate payees and combat forgeries and fraud.
Business challenge
When your business pays an invoice, how do you know your money is going to the right account? To help make payments safer, SiS wanted to provide a trustworthy source of verified bank data for its clients.
The benefit
Defends against fraud by verifying over 160,000 supplier bank accounts
80% reduction in manual fraud control workload
Agile cloud architecture helps SiS scale up as its community of clients grows
Pull Quote
“IBM Cloud makes it quick and easy to develop applications by simply composing whatever technologies you need. It’s an ideal platform for building a microservices architecture.”
Laurent Sarrat, Co-founder & Managing Director, SiS
Solution components
Hyperledger
IBM® API Connect
IBM Cloud™ Container Service
IBM Compose for MongoDB
Case study Link
SiS is a technology startup that focuses on providing a payment data repository for companies in France and across Europe. The company has harnessed blockchain technology to build a tamper-proof shared ledger of verified payment information for thousands of companies, combined with highly responsive web services designed to authenticate payees and combat forgeries and fraud.
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