Mphasis and Contour partner to accelerate Blockchain powered Open Trade Finance Network

Contour has now collaborated with the Mphasis to accelerate and expand the adoption of its blockchain-powered trade network globally.

Contour is building the world’s open trade finance network. By focusing more on collaboration and using blockchain technologies, they are dissolving the barriers to seamless trade.

Carl Wegner, CEO, Contour, said, "As our business continues to grow following its launch at the start of October, we are constantly looking to expand our network with technology that enhances trade processes and overcomes longstanding obstacles that the traditionally paper-based industry has been subject to. Our vision to create a global standard for trade will be achieved through our work with other technology providers that build upon the interoperability of our network and streamlines processes. With Mphasis's global footprint and expertise in financial services, our work together will ensure that organizations can reap the benefit of improved trade".

Srikumar Ramanathan, SVP & Global head – Industry Solutions Group, Mphasis, said, "We are inspired by Contour's vision and excited to be a partner in their growth journey. With over two decades of experience at the forefront of banking, payments, and technology, Mphasis is in a unique position to help Contour's banking and enterprise network members – many of which are our clients as well - embrace the power of the network to catalyze and accelerate their own digital transformation".

As a part of the deal, Mphasis intends to use its Front2Back approach and its next-generation operations and IT capabilities to expedite the usage and implementation of the Contour network across the different partners, corporates, and banks.

With the help of Mphasis services, Contour hopes to revolutionize global trade and build collaboration, transparency, and trust in the complex, centuries-old industry.

Front2Back uses the cloud and cognitive services to deliver a hyper-personalized digital experience to its customers. This will ultimately enable the banks and organizations to utilize new ways to transact with one another and capitalize on the vision of the digital and connected global trade.