ATB Financial sends real-time payment from Canada to Germany using blockchain technology supported by SAP

posted almost 6 years ago
ATB Financial, the largest Alberta-based financial institution, has collaborated with SAP SE, financial technology start-up Ripple Labs Inc. and ReiseBank AG in Germany to send the first real international blockchain payment from Canada to Germany.

ATB successfully transferred CA$1,000 (EUR 667) to ReiseBank using a network built on SAP technology and Ripple’s pioneering network of enterprise blockchain solutions. The payment, which would typically have taken between two to six business days to process because of requirements such as settling with the counterparty bank and reconciling accounts, was completed in around 20 seconds.

The technology prototype connects SAP HANA Cloud Platform, the open platform as a service from SAP, and the SAP Payment Engine application, which centralizes payment processing in one solution, with Ripple’s network. For the demonstration, SAP provided a mobile user interface through which the payment was executed.
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