Image by Cameron Venti

DEDUPLICATING TRADE FINANCE

THE PROBLEM

Fraud in trade finance is a pervasive, global problem that costs companies billions every year. Fraud can be perpetrated over long periods of time, only discovered when a fraudster is finally unable to repay their financiers. Countless instances of fraud scandals trace back to duplicate financing- where multiple banks unknowingly finance the same authentic or fabricated documents- as there is no current preventative nor collaborative detection mechanism in place.

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THE SOLUTION

Secure Financing leverages best-in-class technology to prevent duplicate financing in real-time. The network acts as a secure unified data repository across participants. The platform's Fingerprinting functionality creates a digital fingerprint that guarantees privacy while enabling detection of exact or partial matches between documents in the system.

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