London, 5th December 2019 - Fineon Exchange (Fineon), the export finance marketplace and Creditsafe, the global business intelligence experts, announce their strategic collaboration for enhanced due diligence reporting for export finance transactions.
Adding Creditsafe's due diligence data to the Fineon Export Finance platform enables insurers and financial institutions to benefit from best-in-class compliance measures for cleared and credit-checked quality deals. The data mitigates fraud risks that might occur in cross-border trade financing, allowing exporters to make speedy credit decisions.
The collaboration will optimise information sharing between the two companies and allow the cross-matching of data for insights on credit risks and compliance checks. The aim is to automate the decision-making procedure to facilitate the financing of cross-border trade. This will drive greater productivity, visibility and industrial growth in the market.
Emma Germano, Country Manager, Brussels and Luxembourg of Creditsafe, said: "As a proud member of the FinTech family, Creditsafe is very excited to announce the collaboration with Fineon Exchange by providing data to their innovative Export Finance Marketplace Platform."
She continued "the market is experiencing a change from 'big data' to 'focus data', where business information is the fuel to these solutions that are the engines for the future Credit and Risk Management."
Michel Kilzi, Managing Partner at Fineon Exchange, said: "Compliance is a strategic component within any trade finance transaction, including export finance, as it provides both fraud prevention measures for funders and faster credit approval for exporters, thereby enabling us to produce compliant export finance solutions for our European exporter client base and our international funding partners."
On the partnership Kilzi added: "In Creditsafe, we found the market-leading credit insight partner with a wealth of industry expertise and know-how that can help develop our mutual businesses and grow our respective market share."
Fineon Exchange, as a collaborative export finance marketplace, brings increased, improved and secure export receivables financing; providing both short-term and medium- to long-term trade financing products.
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About Fineon Exchange
FINEON Exchange is a global marketplace for exporters to trade their export receivables trade finance assets.
The Fineon Exchange platform helps exporters to increase their cross-border sales, improve their cash flow and minimise risk by matching them with the right funders and credit insurers, that are willing to finance and insure their export sales to important emerging and developing markets. The platform uses the latest technologies, such as its Artificial Intelligence Robo-Adviser, to assist exporters in structuring the optimal tailor-made solutions to fit their working capital needs, using highly efficient and creative low-cost financing options.
For more information visit www.fineon.net
Creditsafe is the world's most used provider of online business credit reports. With credit information on over 320 million businesses across the globe, Creditsafe delivers the most accurate and up-to-date information available in an easy-to-use format for businesses of all sizes.
For more information visit www.creditsafe.com