Challenges
- Client has hundreds of suppliers who help them with maintenance-related spare parts. Client makes payments to these suppliers using their registered bank account. Supplier account change requests comes through different channels – email and phone
- Two phishing incidents occurred in the past 12 months, involving phishing leading to payment to fraudulent accounts in millions
- Client wants to streamline the supplier account update workflow. Create data collection/update process more secure and avoid wrong payments in future using blockchain
Solutions
- Built end-to-end Blockchain solution, streamlining supplier onboarding and bank account update workflows
- Implemented Permissioned Blockchain network using Hyperledger Fabric and deployed on EC2 instance
- Developed a scalable solution using serverless architecture on AWS (AWS Lambda + API Gateway)
Tools & Technologies
Node JS, Amazon web service EC2, Hyperledger Fabric, Angular, PostgreSQL
Key benefits
- Increased data security and transparency
- Sensitive information pertaining to suppliers will now be stored on Blockchain network and audit trail will be maintained for any changes in the data
- Owing to a streamlined workflow, wrong payments due to phishing and other malicious attacks can be avoided
