Mitigating The Risk For All Parties
Involved In Trade Finance Transactions.
Trade Forward is a solution that focuses on redistributing the risk associated with the Trade Finance process, using Freight Forwarders as a centerpiece, IoT devices, and smart contracts secured on Blockchain technology. So what is our objective? To provide financial inclusion, helping to fill the $1.5 trillion trade finance gap.
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We are shifting the lending criteria from the creditworthiness of the buyer to the commodity being financed.
Proof of Concept Case Study with Freight Forwarder: Tech Cargo
ConsolFreight Talks: Trade Forward Introduction During IOT World Congress
Who Can Benefit From Trade Forward?
Insurance Companies now have a way to obtain real-time data that can help them improve their risk mitigation process. In this new model, the commodity acts as collateral and a natural risk mitigator.
Financial Institutions are now able to serve the USD 1.6 trillion in unmet market demand for trade finance by financing transactions previously unconsidered due to the misalignment of traditional risk assessment and lending criteria.
Freight Forwarders are the centerpiece of this paradigm shift. They are the link between different stakeholders and can deliver guarantees over the collateralized assets under custody for a new safe and secure trade finance model.
Small-to-medium enterprises (SMEs) account for 74% of the total amount of rejected applications for trade finance services. Now they will experience financial inclusion, creating the potential for business growth.