Ateon partners with R3 to develop innovative solutions on R3's Corda blockchain platform
01/10/2019

Ateon partners with R3 to develop innovative applications
and solutions on R3's Corda blockchain platform

Online PR News – 10-January-2019 – Riyadh - Saudi Arabia, London – Ateon and the enterprise software firm R3 announce regional level collaboration to develop innovative applications on R3's Corda blockchain platform.

Ateon, the fintech arm of Alhamrani Universal (AU) is being well referred as the first blockchain solutions provider and system integrating company in the blockchain space in Saudi Arabia. Enjoying a proven track record of delivering bank-grade solutions, Ateon aspires to offer innovative solutions for the banking, non-banking, financial and local enterprise sectors using leading enterprise blockchain platform Corda.

Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security. R3 recently launched Corda Enterprise, a commercial distribution of Corda specifically optimized to meet the demands of complex institutions.

Corda and Corda Enterprise are the foundation of a vibrant ecosystem of interoperable applications. These apps are built by R3's partners, harnessing the power of blockchain to overcome the specific challenges faced by their customers.

Tariq Abdat, Ateon and Alhamrani Universal's President said on the occasion "We are excited about the collaboration as almost 200 central banks, regulators, top technology and consultancy companies are already a part of R3 network. We hope to leverage this milestone as an advantage and work even closer with local participants to offer innovative and scalable solutions using R3 enterprise platform offerings".

Alhamrani Universal (AU) is the largest ATMs and among the top few PoS solutions provider companies in the Middle East. With its head office in Saudi and fully functional offices in Dubai, the company wishes to continue the successful journey with the renewed mission to align existing technologies, as well as developing new, cutting-edge software solutions.

"Over three decades of dedication, teamwork and support from our globally renowned technology partners has been key to AU's success. We are committed to work closely with new partners to ensure long-term and mutually shared business benefits in common domains of interest." added Mr. Abdat.

David E. Rutter, CEO of R3, comments "Through this partnership, we are excited to be moving to the forefront of the Middle East's developing blockchain industry and welcoming Ateon into the diverse global R3 ecosystem of leading institutions. The combination of Alhamrani Universal's robust track record in delivering financial technology and R3's blockchain expertise will help to accelerate the development of this technology across the region."

About R3

R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 200 members and partners across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

R3's global team of over 180 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base.

The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions' financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce.

Press contacts

Ateon - Alhamrani Universal
Kashif Younus
+966 54 6714147
kyounus@ateon.net
R3:
Nick Murray-Leslie
Chatsworth Communications
+44 (0)207 440 9780
contact@chatsworthcommunications.com R3:
Charley Cooper
+1 917 855 8529
charley@r3.com
www.r3.com