Velotrade selected by MUFG Bank as partner for enhancement of digital trade services
The new system automates the processing of thousands of trade invoices every month by MUFG team in
Under the terms of this partnership, Velotrade recently delivered a highly-customized version of its SFC-licensed platform to
"Velotrade's internet-based platform incorporates modern technologies that create efficiencies which traditional financial institutions need to compete effectively today," said Gianluca Pizzituti, Chief Executive Officer of Velotrade. "Our technology is already proven in the marketplace in addition to meeting today's strictest compliance standards and we are extremely pleased that
"One of the key advantages offered by Velotrade is ready access to our team of experts in order to customize the platform to meet changing requirements. As the Velotrade technology is developed in house, there is no restriction on our capacity to quickly make timely changes in order to closely match the client's expectations."
Hiromi Kaiki, MUFG's Managing Director,
As a leading global bank with deep roots in
Velotrade's account receivables financing platform commenced operations in 2017 handling cross-border financing deals in
"Recognition by a major global bank like MUFG marks an important step for Velotrade in growing our share in the financial services market place and validating our business methodology based on in-house technology development and SFC licence," said
Customisable Platform for Financial Institutions
The Velotrade trade finance platform has been developed in-house by the company's team of technology specialists and can be customised to meet the needs of financial institutions in order to streamline their trade finance transaction processes.
Trade financing platform
Velotrade is an Internet-based platform for businesses of all sizes to finance their cash flow needs using their unpaid invoices. Recognising that unpaid invoices represent a financial asset, businesses can use Velotrade to access funds by securing advance payment from participating investors on their outstanding invoices. Companies apply for inclusion on the Velotrade platform and upon approval may upload invoices for investors to finance on a per-invoice basis.
Using the latest-available technologies to conduct comprehensive credit analysis and incorporating modern compliance procedures, Velotrade's platform is an efficient and rapid means for companies to obtain financing to meet their cash flow imbalances.
Backed by a Type 1 SFC licence, Velotrade provides leading financial institutions with access to new investment opportunities in the developing alternative asset class of Account Receivables Financing.
For more information please visit: https://www.velotrade.com/