October 24, 2019

Accenture and SAP® Build Prototype that Uses Distributed Ledger Technology to Enable More Efficient, Secure and Reliable Payments Between Banks and Customers

Companies collaborate with R3’s Corda platform for real-time gross settlement system

NEW YORK; Oct. 24, 2019 – Accenture (NYSE: ACN), SAP SE (NYSE: SAP) and R3 are collaborating and co-innovating to build a real-time gross settlement system that will enable faster, more efficient, reliable and secure payments between banks and customers.

With real-time gross settlement (RTGS) systems, electronic funds transfers between banks occur in real time and settle on a one-to-one basis. This process is often used for high-value transactions that require immediate clearing and are typically handled by central banks.

The payment platform plans to allow for integration and interoperability between distributed ledger technology (DLT) -based and classic government-issued payments and settlements. The co-innovated prototype design uses currency tokens to facilitate end-to-end settlement . Currency tokens are used in preference to digital currencies in this design because they serve as a proxy for standard central bank fiat currency and use cryptography to increase security and authenticity. The prototype provides the flexibility that is essential to adopting and integrating new payment technologies while allowing banks to maintain their current payment formats.

NEWS: @Accenture, @SAPBanking and @inside_r3 announce #RTGS prototype that uses #DLT to make payments between banks and customers faster, more efficient, reliable and secure #CordaCon2019

“Because the current payment settlement infrastructure is highly complex and fragmented, RTGS systems that leverage DLT and cryptographically secure tokenized payments can help central banks improve efficiency and security,” said John Velissarios, a managing director and global blockchain technology lead at Accenture. “The RTGS prototype, designed in collaboration with SAP and R3, demonstrates the next stage of efficiency in payment systems and ultimately, paves the way to linking to tokenized-assets, like equities, to create an increasingly integrated and seamless financial services ecosystem.”

The prototype uses the SAP Payment Engine application, which serves as the central hub for payment initiation, processing, clearing and settlement and integrates with R3’s Corda platform to enable interactions with RTGS systems, delivering nearly seamless interoperability between conventional and token-based payments. Leveraging Accenture’s experience in central bank clearing and settlement, and blockchain capabilities, the prototype will enable peer-to-peer payments between banks that have adopted DLT as well as those that have not.

“As market participants accelerate their use and acceptance of digital payments, payment providers and banks need to adapt quickly and prepare for these new forms of payments,” said Falk Rieker, global head of IBU Banking at SAP. “The RTGS platform is designed to enable banks and payment providers to easily adopt and integrate DLT-based payments on their existing platforms, helping banks to safeguard as well as augment the value of their investments.”

“As digital currencies gather momentum, the need for interoperability between conventional and token-based systems is key in meeting the promises of tokenization,” said Cathy Minter, chief revenue officer at R3. “Corda was designed to execute transactions seamlessly from the outset, with the highest levels of certainty and security. Through our relationship with Accenture and SAP, R3 is collaborating with two of the tech industry’s major players to provide a real-time gross settlement token-based exchange. The end result is nearly instantaneous settlements, which will reduce friction throughout the transaction chain.”

Corda enables businesses to transact directly and in strict privacy using smart contracts, reducing transaction and record-keeping costs and streamlining business operations.

About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions — underpinned by the world’s largest delivery network — Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 492,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

About SAP
As the Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP® system. Our machine learning, Internet of Things, and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enable more than 437,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.

About R3
R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 300 firms across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

R3’s global team of over 200 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base.

The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. www.r3.com.

Copyright © 2019 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

SAP Forward-looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

# # #

Contact:

Alison Geib
Accenture
+1 703 947 4404
alison.geib@accenture.com

Denise Berard
Accenture
+1 617 488 3611
denise.berard@accenture.com

Susan Miller
SAP
+1 610 661 9225
susan.miller@sap.com