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.
Secure Financing leverages best-in-class technology to prevent duplicate financing in real-time. The network acts as a secure unified data repository across the network 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 network.
The size of the global invoice factoring and financing market in 2018
Challenges include double financing, invoice verification and tracking of goods
Our solutions prevent fraud in real-time
Select information from invoices are hashed and uploaded onto our platform
Capital efficiency is increased and made more accessible