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Over the last 14 months, digital SI, Endava has been working with trade technology provider Boex to develop its AI and blockchain-based platform which supports seamless cross-border payment integration. The collaboration will now focus on transforming cumbersome, paper-heavy processes into swift, secure, digital-first transactions for UK SME’s.
Boex was founded by two Canadians following the passing of Electronic Trade Documents ActImage may be NSFW.
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(ETDA) in 2023. The legislation places digital and physical trade documents on equal footing. Operating from offices in London, Dublin, Lisbon, Vancouver and Toronto, the Web 3.0 company is focused on enhancing the efficiency of global trade through the digitisation of Bills of Exchange and smart automation. Last week, it achieved a major milestone with its first-ever fully digital trades.
The payments sector is both one of the cornerstones upon which Endava’s success has been built and an arena where the firm possesses deep industry expertise. Until recently, the segment was the company’s largest vertical by revenue. In H125, however, Endava’s turnover in the payments space dropped by 26% yoy to account for just shy of a fifth of global sales.
With global trade issues now at the top of the agenda for many businesses, Endava’s tie up with Boex is certainly timely. How effective the partnership it will be in revitalising the former’s fortunes in the payments sector remains to be seen.
