NEW YORK, Jan. 8, 2020 /PRNewswire/ -- Mediaocean, the foundational software provider for the advertising world, today announced Amino Payments as the first partner that will utilize blockchain technology to provide the first fully transparent media supply chain, enabling spend optimization across the programmatic media.
The partnership with Amino Payments expands on several years of blockchain investments by Mediaocean focused on building trust and accountability in the supply chain. The integration will empower marketers and agencies to view programmatic supply path details tied to financial and contractual data. The inclusion of Amino Payments into Mediaocean's applications will enhance the end-to-end 'PO to payment' view of contractual commitments across all media, with programmatic path and compensation transparency.
"Mediaocean is continuing to innovate with partners like Amino Payments to empower marketers and agencies to plan, execute and measure global cross media advertising," said Ramsey McGrory, CRO, Mediaocean. "Delivering programmatic media supply chain transparency inside the financial and contractual workflow has been one of the top requests we've received as we've innovated with blockchain. The partnership with Amino Payments will help us to deliver this."
Between 2018 and 2019, Mediaocean executed a pilot program and deployed a media supply chain blockchain network - a consortium of eight major brands, their agencies representing five global agency holding companies, and select technology partners. The pilot captured the key contractual transactions across the media buying lifecycle, recording over 670 million dollars in media budgets.
"Amino Payments' mission is to bring financial transparency to digital advertising," said Will Luttrell, Amino's Founder and CEO. "By combining Amino's impression-level cost analysis and supply path optimization tools with Mediaocean's cross media management solutions, marketers will have complete and detailed visibility of their programmatic buys from purchase order to payment execution. This is a huge win for our mutual advertiser and agency clients seeking to make the most of their media dollars."
Supply path data from Amino Payments will be written to blockchain, and surfaced in Mediaocean's newest Media Finance, Auditing and Capital Management applications for brands and agencies. Brands and agencies will be able to view and report on more granular delivery data, specifically around supply path for digital and programmatic – this includes information around which supplier, tech, and data partners participated in a given transaction, and also the dollar allocation.
Mediaocean's Verification APIs are currently available for integration of measurement data, including supply path intelligence, into blockchain. The integrations with Amino Payments will be ready by 1st half of 2020.
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Mediaocean is the world's foundational media software company that manages every aspect of the advertising workflow: from planning, buying, and selling—to analyzing and optimizing—to invoicing and payments. Our open cross-media platform powers $150 billion in global media spend, providing transparency and accountability across the entire supply-chain. We serve a wide range of clients in the advertising world: over 100,000 agency, advertiser, and media owner users trust Mediaocean applications daily. Our company employs 950 people and is part of the Vista Equity Partners portfolio of software companies.
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About Amino Payments
Amino Payments was founded on the belief that when a brand puts money into digital advertising, they should be able to see how their media dollars are spent. Amino combines the best of blockchain, advertising, and payment technologies to enforce transparency in online advertising and eliminate fraud, waste, and abuse, making the entire industry more efficient and effective. To learn more visit www.aminopay.com.