Deal Details: Accenture forms strategic alliance with TradeIX via minor equity investment. Financial terms of the deal were not disclosed.
TradeIX, headquartered in Dublin with offices in London, Kettering and Singapore and operations in Germany and the US, is an award-winning technology provider and network operator of the Marco Polo Network. Its clients include BNY Mellon, Bank of America, BNP Paribas, Commerzbank, ING, Standard Chartered Bank, AIG, Oracle, and DHL.
TradeIX uses distributed ledger technology, Blockchain, to facilitate the flow of goods, services, transactions and information within a secure environment for global trade. A distributed ledger is a database that is consensually shared and synchronised across multiple sites, institutions or geographies. It allows transactions to have public ‘witness’, thereby making a cyberattack more difficult.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Accenture employs 492,000 people in more than 120 countries.
As part of the agreement, Accenture will work with TradeIX to bring to market new use cases, beyond banking, to address the needs of buyers and sellers within trade finance.