Singapore-based fintech start-up INVICTUS is collaborating with IBM to leverage its blockchain technology for its Order, Logistic & Payment (OLP) platform. The platform’s goals are to help firms streamline their transaction processes and disrupt the traditional ERP systems market with a smart contracts solution.
“INVICTUS offers more than an e-procurement platform. We focus on taking the chronic pain out of the last mile of a transaction by expanding access to financing from third party liquidity providers, in addition to banks. Through our blockchain smart contract technologies and working collaboratively with IBM, we hope to disrupt this last mile by enabling secure and cashless financing as early as the PO stage,” said Mr Lim Soon Hock, Chairman of INVICTUS.
The startup is also working with the IBM Bluemix Garage in Singapore to design a prototype on the Hyperledger Fabric, aimed at managing transactions between small and medium enterprises, suppliers, banks and other liquidity providers.
“Blockchain technology presents opportunities for disruptive innovation. It enables businesses to transact with less friction and more trust. Through IBM Blockchain, we are empowering businesses to digitize transaction workflow through a highly secure, shared and replicated ledger. We have seen significant success in the work we have done with startups and how it has benefitted both their business and their clients,” said Alan Lim, Practice Lead, IBM Blockchain & Bluemix Garage, ASEAN.