The new platform is a secure distributed ledger for banks, financial institutions and global enterprises. Applications and solutions included in the platform are designed to enhance collaborations across global supply chains. Specifically, the Fluent Network allows for seamless financial flows across global supply chains. Solutions include approved payables financing, a real-time payment platform and supply chain management tools.
The Fluent Network is currently in a pilot program with a Top-10 bank on Forbes’ 2015 America’s Best Bank list.
“A network allows the whole to be exponentially greater than the sum of its parts and eliminates the inefficiencies that exist in disconnected systems,” said Fluent CEO Lamar Wilson. “There is no space where this is more important than global supply chains, who have dealt with siloed systems for far too long. We are here to close the gap between businesses and banks across our secure financial operating network.”
Fluent COO Dave Sutter explained the company spent eight months prior to development interviewing CFOs, corporate finance executives and others to learn about the issues global supply chains face today. “We then identified specific instances where blockchain technology and a distributed financial network could provide a qualitative advantage over traditional systems for global enterprises,” said Sutter.
Fluent also took this time to announce the website fluent.network, which includes more information about the platform and its solutions.
These announcements follow Fluent’s pre-seed financing round that closed in November 2015. Among the investors were 500 Startups, Thomson Reuters and UMB Bank.
Image via press release