Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for July 11th, 2017

IBM Completes Successful Blockchain Trial for Bank Guarantees

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ANZ and Westpac have teamed with IBM and shopping center operator Scentre Group and have now successfully digitized the bank guarantee process used for commercial property leasing.

The trial used Distributed Ledger Technology (DLT) to eliminate the need for current paper-based bank guarantee documents, resulting in a single source of information with reduced potential for fraud and increased efficiency.

DLT powered by Hyperledger Fabric V1.0 is a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation. DLT is part of what underpins a blockchain.

In addition to eliminating the need for physical document management, the trial also addressed other inefficiencies in the current bank guarantee process, including the challenges in tracking and reporting of a guarantee’s status through multiple changes.

This forms part of a broader plan to build a shared solution with the rest of the industry, and to invite other organizations to participate in a larger pilot.

Commenting on the successful trial, Mark Bloom, Chief Financial Officer at Scentre Group, said: “An update of the decades-old process for issuing, tracking and claiming on guarantees is long overdue. 

“With approximately 11,500 retailers across Australia and New Zealand, who use guarantees to support rental obligations, manual tracking of guarantees has been an extremely cumbersome and labour intensive process.”

The companies involved in the trial have released a whitepaper detailing how the solution worked and how it could be used in other situations that rely on bank guarantees. You can download it here.

Written by turbotodd

July 11, 2017 at 1:15 pm

Posted in 2017, banking, blockchain

Pets at Home Builds In-Store Digital Experience with iPad App Using IBM MobileFirst Capabilities

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Pets at Home, the UK’s leading pet specialist retailer and IBM today announced the launch of Sales Assist, an IBM MobileFirst for iOS app for iPad which will be used across 440 stores nationwide to make it easier and simpler for customers to purchase the products they need.

Pets at Home offers a unique omni-channel experience for pet owners, including a large network of stores, brand websites, innovative and exclusive products, and pet services through vet practices and grooming salons.

With the Pets at Home website capturing some of the highest levels of web traffic in the pet care retail market, IBM is working with the brand to further evolve the digital experience and bring it to life in stores across the country.

Previously, customers who were unable to secure the right products and services for their pets had to either go online or visit another store. However, the introduction of Sales Assist into Pets at Home stores means that store colleagues now have a fast way to access a wider range of insights and products to be able to convert these enquiries into sales on the spot.

“At Pets at Home, we’re investing in innovative new technology to reinvent the retail experience for our customers. We want our consumers to be able to learn about and order the right products across every channel, and mobility is at the forefront of this transformation, “said Chris Holyland, Ecommerce Director at Pets at Home. “By customizing Sales Assist, in collaboration with IBM and Apple, we are providing our consumers with access to an even bigger range of goods regardless of location. The unique tool allows our colleagues to confidently show product information, ratings and reviews from the shop floor, opening up opportunities to foster higher brand engagement and ultimately provide our consumers with the experience they expect.”

Sales Assist is one of over 100 apps in the IBM MobileFirst for iOS portfolio that are changing the nature of work for retailers and global companies across industries by putting real-time data in the hands of employees.

Using iPad, more than 3,000 Pets at Home store colleagues will have quick access to the retailer’s product databases while assisting customers to provide a more compelling in-store experience.

You can learn more about IBM MobileFirst technology here.

Written by turbotodd

July 11, 2017 at 9:14 am

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