Deutsche Telekom partnered Commerzbank to develop digital supply chain systems with integrated financial services which use 5G, AI, IoT, blockchain, sensors and cloud technology.
Announcing the move, the German operator stated its enterprise IT subsidiary T-Systems was already working with Commerzbank on a pilot system for a client in the logistics sector.
The aim of the tie-up is to offer enterprises efficient and transparent supply chains, intelligent warehouse management, automated financial services and supply-related cost savings.
Deutsche Telekom and Commerzbank plan to move the whole chain to digital technology.
Part of the rationale for the move is the pair’s assessment supply chains currently used by businesses involve too many manual stages, lack transparency, are complex, static and prone to error.
T-Systems CCO Urs Kramer said the partners aimed to “bring the world of technology and finance together” adding companies “need technologies like 5G, IoT and the cloud [to] share digital information with everyone in the supply chain globally”.