FOR BUSINESS

The need to prevent duplicate financing fraud is at all levels in trade finance– from the largest transactions and corporates to small transactions involving micro, small, and medium size enterprises. The ability to effectively detect, deter, and prevent duplicate financing would result in reduction of risks for trade finance which would improve profitability of trade finance for banks and ultimately avail more financing to business enterprises who genuinely need financing for their trade activities.

Our Fingerprinting technology covers the key trade finance document types. Lenders register select document information, prior to disbursement, to the network. Key information from each document is hashed to create digital fingerprints that guarantee privacy. These fingerprints are then pushed to the network, which acts as a secure unified data repository across all participants. When the same document is submitted to the network by multiple lenders, the system will reject or flag all duplicates after the first unique instance is marked as financed on the system.