Commerzbank is working with Deutsche Telekom subsidiary T-Systems on a supply chain automation solution that will integrate financial services.
Working with an unnamed pilot customer from the logistics sector, the project will use 5G, artificial intelligence, the internet of things (IoT), blockchain, cloud technology and sensors to digitise the entire supply chain.
Urs Krämer, Chief Commercial Officer at T-Systems, said the project will, 'Bring the worlds of technology and finance together so as to digitise all aspects of a supply chain – from procurement, invoicing, through logistics, to payments.'
'Supply chains will change rapidly with digital networking and integrated payments,' said Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank. 'Together with T-Systems we are working on scalable solutions so that our customers can make their complex supply chains such that these are more efficient, resilient and productive.'
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