Luxoft Develops ‘Blockchain Adapter’ for a Business Process Management Tool on Appian’s Platform
April 23, 2018
Zug, SWITZERLAND and Reston, VA – Luxoft Holding Inc. (NYSE:LXFT), a global IT service provider, today announces it has built a blockchain adapter for Appian’s (NASDAQ:APPN) rapid application development platform. It is now available exclusively to businesses using Appian’s Business Process Management (BPM) tool and will allow its users to integrate a blockchain network into their day-to-day business processes, creating a secure, digital environment that facilitates data sharing.
“The launch of this adapter is about helping businesses realise the potential of blockchain by making it easier to use,” said Vasiliy Suvorov, Vice President of Technology Strategy at Luxoft. “Problems integrating blockchain into existing in-house systems are often the biggest obstacles to its adoption. Now, by integrating blockchain into a BPM, a business can leverage the benefits of a decentralised model whilst retaining its existing IT architecture. This means business don’t have to rip out their old IT systems to use blockchain.”
Luxoft will demonstrate how the adapter can be used to benefit the healthcare sector for the first time at Appian World in Miami, FL, US at the Luxoft booth (#16). In particular, Luxoft will show how the blockchain adapter can reduce claims processing errors and inaccurate medical bills. The blockchain creates a secure, reliable and auditable way for medical and pharmacy systems to share and update real-time accumulators, meaning medical insurers, healthcare providers and pharmacies using the Appian Platform instantly have access to the same claim data.
“The disparate systems used by pharmacies, healthcare providers and insurers to manage medical information are extremely complex. They are not designed for the smooth exchange of data,” said Sam Mantle, Managing Director of Digital Enterprise at Luxoft. “The Appian blockchain adapter will be a step towards seamless integration across the healthcare ecosystem enabling payers, providers and patients to exchange and verify data in a safe and compliant way.”
“At Appian we value our partner ecosystem and are committed to supporting them as we grow in the key Healthcare market,” said Marc Wilson, SVP Global Partnerships & Industries at Appian. “Blockchain impacts organizations across all industries, but it is an especially difficult challenge within the Healthcare industry given the complexities they face. Through our partnership with Luxoft, our customers now have a solution specifically designed to address these needs within the Appian platform.”
Luxoft built the Adapter on Appian’s Platform, as it’s used extensively across a variety of industries, from financial services to healthcare, in areas such as provider data management, medical management and clinical trials. The move is part of a push to commercialise Distributed Ledger Technologies and accelerate its deployment in established business processes.
Luxoft (NYSE:LXFT) is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering. Luxoft enables companies to compete by leveraging its multi-industry expertise in the financial services, automotive, communications, and healthcare & life sciences sectors. Its managed delivery model is underpinned by a highly-educated workforce, allowing the Company to continuously innovate upwards on the technology stack to meet evolving digital challenges.
Luxoft has more than 13,100 employees across 41 cities in 20 countries within five continents, with its operating headquarters office in Zug, Switzerland. For more information, please visit the website.
Luxoft Forward-Looking Statements
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2017 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
Appian Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding the security of the digital market to be created by Appian users integrating a blockchain network into their day-to-day business processes and Appian’s commitment to and support of its partner ecosystem, are forward-looking statements. The words “anticipate,” believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. Appian has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Appian believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. Those forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to potential breach of Appian’s security measures or unauthorized access to the Appian platform or customer data, risks related to the success of Appian’s strategic relationships with third parties and the risks and uncertainties set forth in the “Risk Factors” section of Appian’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on February 23, 2018, and subsequent reports that Appian has filed with the Securities and Exchange Commission. Moreover, Appian operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for Appian’s management to predict all risks, nor can Appian assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements Appian may make. In light of these risks, uncertainties and assumptions, Appian cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Appian is under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law.
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