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Finesse launches Prime-CONTRACT platform

The new offerings serves a blockchain powered contract lifecycle management system.

Finesse launches Prime-CONTRACT platform
Ajay Alex, head of BFSI Practice at Finesse.

Finesse, a system integration company, recently launched the Primechain-CONTRACT in close collaboration with its partner Primechain Technologies, a global blockchain company.

The new offering serves as a blockchain solution for contract lifecycle management, which covers everything from storage, tracking, searching and reporting. Now available to Middle East customers, Primechain-CONTRACT can be built upon the cloud or on-premise.

Speaking about the solution, Shinam Arora, CEO of Primechain Technologies, said: "Conventional digital signatures require additional tools, and require purchase of digital signature certificates. Moreover, revoking a conventional digital signature certificate invalidates all previously signed documents."

Contracts stored on the Primchain-CONTRACT platform are held in a permissioned blockchain, which in turn ensures provable immutability and data integrity. The platform is further strengthened with robust encryption, and also features automated alerts, interactive dashboards, comprehensive meta-data, as well as automated processes for signing documentation.

Commenting on the newest joint offering, Ajay Alex, head of BFSI Practice at Finesse, highlighted the numerous benefits of the Primechain-CONTRACT platform. These included reducing regulatory risks for organisations, expanding visibility and tools available to senior management, automation of workflows, and introduces efficiencies in vendor management processes.

Alex also noted that the new offering can help organisations improve the eDiscovery process, which instantly disseminate updated policies and procedures, while also enabling access to key personnel anywhere and anything through their respective mobile device.

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