Tradeshift: Partnership With SiS-id

Tradeshift: Partnership With SiS-id

Tradeshift: Partnership With SiS-id to Help Businesses Fight Payments Fraud

  • The firms hope to tackle payments fraud by immutably storing supplier bank details on a blockchain
  • French firm SiS brings together company CFOs to pool genuine supplier identities
  • Then the collaboration resulted in an app that’s available in the Tradeshift app store
  • The My Sis-id app combines a data analysis engine which lets businesses combine account info from suppliers
  • The new app also aims to reduce the amount of time it takes to make sure a supplier hasn’t been faked by criminals by 80 percent
  • SiS-id CEO Rémi Demont said that fraud is an increasingly alarming issue facing the payments sector