![]() On the other hand, batch-processing takes a much longer time and does not provide quick results. Therefore, it is much more helpful for smaller enterprises. Real-time processing gives you quick and timely results about the processed transaction.And this is much different from real-time processing because real-time processing is sufficient in dealing with less complex situations. Batch processing helps you deal with complex data transactions and is extremely helpful in reducing the expenses of large organizations, especially those dealing with larger data traffic.You can deal with multiple transactions in batch processing, whereas real-time processing enables you to deal with one transaction at a time.This is one of the best techniques for dealing with one transaction at a time. This method is better than batch processing because it ensures a faster reply to the transaction results. Real-Time Processing: Real-time processing is designed in a way to carry out exclusive transactions.It cannot provide fast transaction results. Although this method is designed to break down a huge series of programs, it has one drawback that is. Batch Processing: The batch processing system helps you to refine clusters of transactions simultaneously with the help of a computer system.Samsung SDS will expand its digital transformation business to enhance the competitiveness of banks and financial institutions. Samsung SDS, which has expanded the application of its blockchain platform to various sectors such as the finance, manufacturing, logistics, and public sectors, has now extended its reach to the banking sector.Įxecutive Vice President Hong-Jun Ryu says, "BankSign is the first example of applying blockchain technology, which is receiving a lot of attention, to banking services. ![]() ![]() Samsung SDS has also been consistently engaging in global collaborative research for the development of blockchain technology. This enhanced security has made it possible to increase the validity of digital certificates from 1 year to 3 years.įollowing on from its 2015 start in the blockchain field with the establishment of its blockchain dedicated department, in 2017, Samsung SDS launched Nexledger, a blockchain platform with real-time mass transaction processing and smart contract capabilities and a management monitoring system. Blockchain encrypts communication segments and double-encrypts data and networks, seriously enhancing security. ![]() The authentication process has also been improved with simplified passwords, fingerprint and pattern authentication.īankSign prevents certificate forgery through synchronization of distributed agreements, which is a characteristic of blockchain technology, and real-time authentication information between banks. However, BankSign makes it easy for customers to access the banking services of multiple banks at once. Until now, banking customers have had to go through the inconvenient process of renewing their digital certificate every year for each bank they are a mobile banking customer of. If a customer using BankSign obtains a co-verification certificate from a bank, that customer can conveniently use the mobile banking service of other banks with simple authentication. WP Hong, announced on August 27th that it has completed development of BankSign, its blockchain-based co-verification system for banks, for the Korea Federation of Banks. Samsung SDS is expanding its blockchain platform business from the finance, manufacturing, logistics, and public sectors to the banking sector. Improved security using blockchain and improved verification renewal cycle from 1 year to 3 years Makes mobile banking at other banks easy if the customer has already been verified by another bank
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