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Launching their first product in 2020, the Contour team draws on banking and fintech experience to change the landscape of trade finance.
Collaboration intended to streamline trade processes in key regions including Africa, by bringing together banks and businesses on software company R3’s Corda blockchain platform.
Inability of various technology platforms to communicate with each other securely and lack of scale are obstacles to greater digitization, say bankers.
In an industry first, the Singapore lender has completed a S$4.8 million trade finance settlement for Super Steel. There are now two more such deals in the pipeline
Audi Singapore and Premium Automobiles with DBS Bank completes first trade financing transaction, or letter of credit, on Singapore’s Networked Trade Platform
The trade was completed by harnessing HSBC’s capabilities through the Voltron platform