Underscoring its commitment to solving trusted information flow challenges, Billon has joined forces with FIS, the world’s largest provider of financial technology solutions, to explore joint product development and sales opportunities for its portfolio of corporate blockchain solutions.
The two firms have signed a letter of intent (“LOI”) following the completion of the FIS VC Accelerator Program, to evaluate the integration of Billon’s distributed architecture for document and identity management into FIS’ global financial technology suite. Together, Billon and FIS are addressing a multi-billion dollar document management market for businesses looking to streamline processes and meet regulatory requirements.
Under the terms of the agreement, Billon and FIS will also explore the potential for collaboration on corporate and SME payments, and micropayments for digital and smartphone devices - a market estimated to be worth $3.3tn by 2023. The partnership extends Billon’s global footprint which now includes similar agreements with Mitsui Knowledge Industry (MKI) in Japan and SE Asia, and with BIK covering the CEE market.
“FIS has a leading role in setting and maintaining technology standards for the global financial services industry, making this agreement an historic milestone for Billon and a massive step forwards for civilised blockchain technology,” said Andrzej Horoszczak, CEO and Founder of Billon. “Billon’s mission is to civilize blockchain technology to solve the world's financial and data management problems. Alongside FIS, we look forward to introducing this solution and others to the global market.”
Billon’s solution is unique in that its distributed architecture has been designed to overcome the constraints of costly, time-consuming centralized information and storage management, shifting control of documents to the front-office and directly to individuals. Under test conditions, Billon’s architecture has been shown to deliver 10x speed and scalability performance improvements over alternative solutions.