Nexfinance – A New Blockchain Platform Announced By Samsung SDS

Samsung SDS has announced a new blockchain-based finance platform, named Nexfinance.

A new project with its new platform will provide services such as digital identity, finance concierge, artificial intelligence (AI) virtual assistant, and automatic insurance payment.

Samsung SDS mentioned that the platform is going to support financial institutes and companies with their digital transition safely.

Digital identity service of Nexfinance is blockchain-based and will contribute in protecting client data, while finance porter uses AI and big information analytics to help clients handle with their assets.

Samsung said that AI assistant and automatic insurance will help customer relations.

Samsung SDS CEO Hong Won-pyo at a press event in Seoul mentioned: “New technologies such as biometric, AI, and blockchain are bringing out the urge for a fundamental innovation in the finance industry. We have completed the design for Nexfinance aimed at the insurance industry and we will continue to put in efforts to innovate the digital finance industry.”

Nexfinance also serves as an open platform that will enable customers to attach and use third-party solutions.

A year ago Samsung SDS started its first blockchain-based finance service called Nexledger trying to make digital transactions safer.

In November it got an order from the city of Seoul to make a blockchain platform for administrative use.