1. What are the benefits for the corporate clients?

A multi-bank platform which allows buyers to support their suppliers raise financing requests throughout the trade cycle.

2. What is the purpose of Trade Information Network and what are the benefits for the banks?

Trade Information Network is the data registry whereby buyers and sellers can exchange genuine trade data with their banks, as well as raise the financing requests (both before and after shipment).

In open account trade, limited visibility of the transactions flow results in an inability for the banks to assess a number of risks, namely: performance risk of a supplier, fraud and double financing. Our platform aims to address all of these. Trade Information Network is the solution for a better decision making process.

3. How are connections established on the platform?

Membership on Trade Information Network is by invitation only. Typically, the banks invite their corporate buyers and the buyers in turn invite their suppliers.

4. Who uploads the data?

Only the owner of information can upload the data on the platform: the buyers upload purchase orders and credit notes and the suppliers upload the invoices and shipment data.

5. How is the data uploaded?

There are a number of ways to upload the trade information by the corporate clients and banks. The users have the option for API, host-to-host connectivity, file transfer and manual data input.

6. How secure is my data?

All data on the platform is fully encrypted both at rest and in transit using industry standard encryption algorithms and is stored on the AWS cloud in Ireland under GDPR compliance. For bank users, we do allow them to perform 2nd level of encryption i.e. encrypt their PII data using an encryption key which is generated and managed by them on our platform. Our Information Security policies and Operational processes to manage the platform are ISO27001 compliant. Upon joining the network, if required, we can share our Security and Data protection policies with the users.

7. How do I subscribe and how much are the fees?

Users of the Network sign the Terms of Use agreement and undergo a KYC check.

There are no charges for the corporate users. For the banks, there is a one-off joining fee of USD 10,000 and an annual membership fee which depends on the data/number of documents consumed and the size of the bank’s group balance sheet. The fees are non-prohibitive and are usually reimbursed by a few transactions on the platform.

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