To help banks bolster their trade finance business with corporate customers, LiquidX is rolling out a white-label deployment of a “next-generation” LiquidX 360 platform. The worldwide network for illiquid assets noted that the LiquidX Partner Program (LPP) lets corporate bankers provide multiple offerings — including supply chain finance, trade credit insurance and account receivables — with their own branding in one application, according to an announcement.
Chief Revenue Officer Ali Hackett said in the announcement that the company provides choices through “multiple flavors” of its LPP service. The firm's modular offering is tailored to clients who have current trade finance businesses, while Hackett noted that clients can “spin up” a full-service trade finance operation with the platform as a “turnkey solution.” She added that the company’s fee-per-transaction structure is geared toward growing with its clients and offering white-glove service to corporates.
CEO Jim Toffey said in the announcement, “For years, we’ve heard from banks that they are looking to streamline their trade finance business, improve their client experience and better respond to their clients’ needs in the working capital space. We solved for these pain points by creating an all-in-one trade finance platform for transacting in supply chain finance, accounts receivable and trade credit insurance.”
Toffey also noted that the company included business intelligence functions with a Position & Risk monitor for banks and their customers. He also noted that the firm plans to offer “bank-to-bank” distribution by the summer.
In separate news, Emirates NBD became a part of the LiquidX network, per news in March. Emirates NBD had joined the ranks of top banks in Hong Kong and Southeast Asia. The partnership was geared toward powering innovation in transaction banking.
LiquidX has focused on growing its Middle East presence, aiming to harness formidable trade connectivity with Asia, with an emphasis on the petrochemical and energy areas.