Fintech firm Fluent, a financial operating network for global trade, announced in a press release sent to CoinReport that it has won the 26th BAFT Annual Conference on International Trade’s Solution Showcase, a conference’s competition that is focused on solving major problems in international trade. The company competed with IBM, Newgen Software and LiquidX/Broadridge Financial in front of a panel of judges, earning opportunities to present at future international trade conferences.
Fluent competed to solve the question “How to identify a ‘real’ receivable and perfect interest in that receivable?” The firm won both the Audience Choice and Judges’ Choice awards, as voted on by the panel of attendees and trade experts, respectively.
Fluent won opportunities to present at the Europe Bank to Bank Forum in Madrid, January 16-18th, 2017, and the Global Annual Meeting – The Americas in Miami, April 30th- May 3rd, 2017.
According to the press release, Fluent’s platform was said to offer the best solution to preventing double financing, perfecting interest in receivables across different markets and automating these processes.
“We were well prepared to address the issues put forth by BAFT at their Solution Showcase,” said Dave Sutter, Fluent co-founder and COO. “We’ve been working hard over the past 18 months to solve the problems of achieving perfection of interest and preventing double-financing fraud, among others, and we were pleased to receive validation by the audience and team of expert judges.”
BAFT is the leading global financial services association for international transaction banking. It assists in bridging solutions across financial institutions, service providers and the regulatory community that encourages sound financial practices while still allowing innovation, efficiency and commercial growth. BAFT engages on an extensive variety of topics affecting transaction banking, including compliance, payments and trade finance.
An end-to-end open-account trade finance platform driven by blockchain technology, Fluent says it is designed to streamline and automate settlement, reduce fraud risk and break down costly data silo’s in the $4 trillion open-account trade market. The Fluent Network, says the company, acts as a global “fabric” for trade, offering partners and network participants a more efficient, more secure and much smarter way to move assets and value all over the world. A multi-bank, multi-lender trade asset marketplace, flexible working capital solutions for businesses and a robust suite of APIs are the applications and solutions that have been built on the Fluent Network.
At the latest Money 20/20, Fluent announced a partnership with Euler Hermes, the global leader in trade credit insurance. Fluent plans to employ the API-based credit insurance tools of Euler Hermes to provide real-time single transaction credit insurance via the Fluent Trade Asset Marketplace. Euler Hermes and Fluent are also currently working together to research opportunities offered by blockchain technology in the trade finance industry. Fluent is vigorously growing its network of fund providers to acquire liquidity for the Fluent Trade Asset Marketplace.
Image via a previous press release CoinReport received