Automated global trade and working capital finance network
Challenge
- In payment commitments the same sets of data are replicated multiple times between parties with each one keeping data in their own trade and general ledger systems
- Email and paper documents lead to expensive, slow, inaccurate and inconsistent data
Solution
- Marco Polo Network enables banks and corporates to streamline and automate their global trade and working capital finance activities more effectively
- Platforms connect and exchange data via the Corda-powered network, creating an interoperable “network-of-platforms”
- Why Corda? Selected for its unique privacy features and peer-to-peer communication that are necessary for financial transactions
Results
- 50+ financial institutions and corporates utilizing the Marco Polo Network
- Inherent identity management, automated contract enforcement and asset verification and tracking
- The largest and fastest growing distributed trade and working capital finance network