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The SDK.finance financial platform has partnered with Oracle to use the Oracle Blockchain platform to improve payment processes and remove middlemen. The partnership was announced in a press release issued on February 12.
SDK.finance is a European-based fintech start-up that offers a payment platform to banks and financial institutions. By 2015, the company would have been recognized as the best fintech start-up by the Central European Startups Awards, while in 2018 it had beaten all the other major players in the sector in terms of end points. application programming interface (API).
By integrating the Oracle platform, SDK.finance would aim to boost the payment process, while making them more profitable and safer. The company is seeking to replace the intermediate financial institutions with this new system, which would reduce the time required for cross-border transactions to a few seconds and eliminate the corresponding transaction costs.
Frank Xiong, vice president of the Blockchain Development Platform Group at Oracle, said the blockchain could "change the future of digital payment processing, greatly improving the user experience, security, speed and speed. cost of each payment ".
Earlier in the day, Cointelegraph announced that Oracle is expanding the functionality of its enterprise-clbad Oracle Blockchain platform to simplify the process of integrating existing commercial and IT systems as well as accelerate the development and deployment of new blockchain applications.
In October 2018, Oracle released a suite of Software-as-a-Service (SaaS) applications based on its Blockchain system, based on its Oracle Blockchain Cloud service, which is expected to improve traceability and transparency throughout the year. Supply Chain. The product would allow users to track the authenticity of product components and temperature control, as well as reduce paper waste.
Also today, Netpay International, a leading global online payments company, has partnered with the Israeli firm BNC LedgerTech to integrate Blockchain with its services in an effort to reduce operating costs. Netpay International would become the fourth financial technology company to use BNC LedgerTech's blockchain-based digital banking solution, Ubanker.
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