The Network aims to address the unmet demand for financing earlier in the supply chain by enabling corporates to easily and securely communicate trade information directly with banks of their choice.
1Banks include supervised financial institutions and could potentially include non-supervised entities active in the financial industry.
Risk mitigation for double financing and fraudulent trade information
Corporates will be able to submit and verify purchase orders and invoices to request trade financing from the banks of their choice. By providing those banks with access to trusted trade information, the Network will help to mitigate the risk of double financing and fraudulent trade information across the industry.
This enables the relevant banks to better assess risks and provide trade financing earlier in the supply chain, including for small and medium-sized enterprises who have traditionally experienced difficulty in accessing trade finance. Banks will provide financing outside of the Network using their existing systems.
Governance and standardization. Open architecture. Standardized connectivity.
Governance principles modeled on SWIFT to achieve maximum adoption across the supply chain ecosystem.
Corporates will use a simple one-time registration process which will allow them to connect with the banks of their choice on the Network.
20th April, 8:00 a.m to 9:00 a.m UK time (Register)
In order to register for this session, please click on the link next to the session.