By Jim Toffey, CEO at LiquidX, based in NY
Today, the trillion-dollar trade finance industry remains challenged by cumbersome, paper-heavy workflows. These traditional processes slow efficiency and create pain points in the operating leverage, profitability and risk management operations for corporates and banks. The key to achieving a seamless, productive and profitable ecosystem lies in true, comprehensive industry digitization. Beyond automating manual processes, digitization optimizes middle and back-office trade finance functionality by eliminating operational challenges, allowing banks and asset managers to have higher operating margins in this asset class.
The LiquidX approach: holistic optimization
Efficiency, flexibility, scale: these are three of the key factors we seek to optimize as a leading global fintech platform in digitization, monetization and risk management in trade finance. LiquidX takes a holistic approach – bundling the entire ecosystem onto one dashboard in a singular platform – with a clear intended solution: to power your business’ progress. Our cutting-edge InBlock technology is built to optimize middle and back-office functionality providing banks and asset managers up to 50 percent savings. Merge every end point from origination to distribution, no matter which trade finance platforms you’re using, in one place.
LiquidX’s time-tested InBlock digitization technology fuels efficiency
What is InBlock? InBlock technology digitizes and automates the entire working capital, trade finance, and trade credit insurance ecosystem. In synchronizing the working capital process, this cutting-edge technology adds an end-to-end layer of control and visibility that has not existed in the market until now. Powered by 30 different technologies, InBlock brings together turnkey digitization solutions, enabling a streamlined workflow and access to real time insights essential to AP, AR and treasury.
Our unique technology is built to ingest, structure, and read documents – in whatever format – creating workflows around them and achieving massive gains in automation efficiency. Since our inception, LiquidX has digitized over two million invoices. As we see it, InBlock is the future of trade finance.
LiquidX & Broadridge Financial Solutions: TradeOps
We are proud to have recently launched our new business process outsourcing (BPO) service, TradeOps, in partnership with Broadridge Financial Solutions, combining LiquidX’s most advanced technology with the world class outsourcing capabilities of Broadridge. TradeOps is the first complete solution to focus on eliminating all the operational challenges that typically plague the industry. TradeOps is the first and only true end-to-end BPO solution for trade finance.
Case Study:
Client: An alternative credit manager focused on leveraged finance and trade finance with a value-driven approach to credit investing.
Goal: To achieve significant growth in the trade finance space via an end-end solution for both Tech and services without the extra costs to build infrastructure in-house to maintain nor hiring additional back office staff.
LiquidX and Broadridge BPO solution:
- Ingestion of Distributors invoice files (several different formats)
- Verify fee calculation from Distributor
- Wire payment creation in Cash Management banks (3 banks)
- Ingestion of Remittance file
- Reconciliation of invoices at maturity
- Dynamic management of invoice status by Broadridge
- Platform-agnostic and comprehensive view of all programs and risk exposure across all platforms (Origination + Distribution)
Result: Completed an end-to-end process from invoice file ingestion to repayment, parsing 2,000 invoices in 15 seconds with perfect accuracy. Now has a comprehensive view of its entire trade finance portfolio on and off of the LiquidX trade platform.
Automating workflow, driving better business
TradeOps’ flexible pricing and servicing model scales with investments, allowing for smarter, faster and cheaper operations with better returns. This new solution empowers trade finance investors, banks and corporates to save significant costs while having access to better real-time information to make smarter investment, risk and compliance decisions. Built to optimize your business’ success, TradeOps is the ultimate solution to automating your middle and back-office operations.
LiquidX is a leading global fintech platform providing the most comprehensive and straight-forward solutions to the trade finance space. To learn more about our industry-leading, end-to-end digitization tools using the latest and most advanced tech available today, request a demo or contact us directly.
