Provide cutting-edge trade finance

 

Marco Polo: Objectives

The scope of Marco Polo is to create a competitive market offering for banks for pre- and post-shipment trade finance solutions. This includes a robust suite of trade specific APIs and technology tools, applications, a sophisticated rules engine, and an open, standard core infrastructure for trade data, contracts, and transactions.

The project aims to provide cutting-edge trade finance solutions to meet the needs of all members across multiple geographies, supporting the continued growth of open account trade with a focus on the following three principles:

Transparent

Reducing risk for all participants through improved transparency and secure access to critical trade data.

Smarter

New, innovative trade finance solutions enabling automation and improved client experience.

Connected

Open APIs and DLT powering a more connected technology infrastructure for the trade ecosystem.

Marco Polo Trade Finance Initiative

Primary objectives:

  • Provide a smarter, more straightforward, easy way to integrate technology infrastructure for the entire trade ecosystem
  • Standardised trade orchestrations leveraging digital smart-contracts to drive automation and interoperability
  • Utilise light, modular, and API-driven systems that provide a superior customer experience
  • Reduce risk, operational and compliance costs by providing participants real-time visibility into a single source of truth
  • Collaborative approach working with many banks and technology companies to provide the next generation trade finance solution
  • Provide a secure, global, open business network for trade finance that can be linked to other business networks
Marco Polo Trade Finance Initiative

Member Benefits:

  • DLT – Leverage Distributed Ledger Technology (DLT) and its capabilities for trade finance – smart contracts, security, immutable, auditable, redundant and trusted.
  • Next Generation Trade Finance Engine – Access to an innovative platform for a secure, user-friendly, modular, flexible, shared infrastructure enabling interoperability with rules and standards.
  • Integrate Easily – Utilise standards and APIs to easily integrate with internal systems, customers, other banks, third-party data providers and other trade networks. Connecting the whole trade ecosystem.
  • Better Collaboration – Collaborate with peers, technology and industry experts. Exchange best practices and develop standards with one of the fastest growing trade finance business networks.
  • Risk Reduction – Operational risk is reduced through enhanced operational efficiency. The transactional risk is reduced with improved transparency and security.
  • Audit and Compliance – Superior audit and compliance through the provision of forensic audit trail and improve transparency and tracking of trade assets.
  • New Revenue Streams – Access to new clients, markets and trade flows by offering new or improved trade finance solutions to existing and new clients in a more cost-effective way.
Marco Polo Trade Finance Initiative

Further Reading.

Marco Polo Trade Finance Initiative

Contact

Message us

Information

Would you like to speak to us about the Marco Polo blockchain initiative for trade finance or know more about how you can join?

contact@marcopolo.finance
+44 203 287 0744