ITFA’s Fintech Committee attracts 12 new members

It has been a busy first half of the year and we are delighted to welcome 12 new members to our Fintech Committee. Those new fintech members represent alternative lending platforms, trade processing and compliance systems, SCF technology platforms and b2b trading platforms.

“I am delighted to welcome such variety of technology experts to our committee”, says André Casterman, Chair Fintech Committee, ITFA. “The number of innovations and advanced use cases brought to the industry is simply astonishing, and shows the way forward, in particular when it comes to funding SMEs and to strengthening trade operations on the basis of 21^st century digital practices”.

Richard Fossett, Founder and CEO of TradeRiver explains his decision: “We are embracing the DNI Initiative and are actively working with the core MLETR technology provider to extend liquidity to our SME clients on the basis of MLETR-compliant payment obligations.”

“At vabble, we don’t lend money. Instead, we are buying an asset on behalf of institutional investors (i.e., pension and insurance funds). These institutional funders allow us to offer our workflow automation with an implied low cost of capital and in turn pass that benefit on to the users of the platform.”, explains Pablo Terpolilli, Founder and CEO, Vabble.  “We joined ITFA and TFD Initiative to benefit from the most advanced trade distribution technology and to engage with the largest network of institutional funders.”

“We are pleased to align with ITFA, an industry-wide platform instrumental in the journey to meet the industry’s current and future demands for digitisation of trade, compliance and trade value-chain. Pelican looks forward, jointly with ITFA, to taking an industry perspective in the continuing improvements of trade and ITFA’s open, collaborative approach, inviting and sharing experiences, showing a broader commitment to drive the digitalisation agenda in trade.”, says Biji Kurian John, Head of Product, PelicanSecure Trade at Pelican.

We warmly welcome TradeRiver, Vabble, Pelican as well as Mercore, TradeSun, Finventory, Atlantic Risk Management Services, Contour Network, C2FO, Veefin, International Metals Platform and CRX Markets to ITFA and to the industry’s largest fintech committee. We look forward to meeting them in in person during our upcoming summer events on July 11^th (educational seminar), 12^th (DNI Initiative workshop) and 13^th (NERC seminar).

The ITFA Fintech Committee comprises three market initiatives to drive industry collaboration: (1) the MLETR-centric DNI Initiative, (2) the TFD Initiative which has established the largest network of institutional investors and (3) the Fraud Prevention working group.

In addition, the ITFA Trade Finance Investment Eco-System (ITFIE), which held a very successful trade and investment forum in March, looks at broader issues in the creation of trade finance as an investable asset class.