Infoteria Corporation (IC), a Japanese company that specializes in providing software and related support, consulting, and training, has signed a Memorandum of Understanding (MOU) with Dragonfly Fintech (DF), a Singapore-incorporated financial technology company, to pursue a partnership to develop solutions that will enhance payment, clearing and settlement solutions for the financial services industry.

Founded in 1998, Infoteria Corporation is headquartered in Tokyo and listed on the Tokyo Stock Exchange. Infoteria’s middleware product ASTERIA has 41% market share in Japan. Infoteria’s Handbook product has maintained market leadership in the mobile content management space in Japan for over 4 years now with over 22.9% market share.

Under the MOU, the key area for collaboration will be in applying IC's ASTERIA middleware product to create a more user friendly abstraction of DF's Transaction Ecosystem Platform Solution (TEPS). 

ASTERIA is an optimum product for non-coding development for users in a wide array of industries. On the other hand, TEPS is a pioneering leading edge private blockchain solution that runs on the NEM powered, Mijin fast transaction engine. The NEM blockchain solution is specifically tailored for the financial industry and does not require financial institutions to do massive changes to their core banking system.

As a platform, TEPS is an enabler that allows all ecosystem players such as financial institutions, service providers, merchants and businesses, and end users to make use of as a new means of payment, clearing, and settlement.

The proposed partnership will allow TEPS to fast track the development of value added Business Intelligence (BI) analysis, operation automation, as well as using it as a tool for Anti-Money Laundering (AML) analytics for a holistic offering. It takes away the need to understand the steep learning curve of the blockchain technology and jumpstart the use and integration of TEPS into core banking systems.

Founded by Lon Wong and Makoto Takemiya, Dragonfly Fintech in December signed a contract with the leading Japanese think tank and systems integrator Nomura Research Institute (NRI) in conjunction with the Japanese SBI Sumishin Net Bank, to assess a core component of DF's blockchain technology for financial use.