Fineon Exchange, an online marketplace platform for export finance, has announced the appointment of Aon Credit Solutions (Aon) as credit insurance broker and advisor for its recently launched Export Finance Platform. The initiative also includes a strategic collaboration with Aon to offer enhanced automated delivery of credit solutions.
Adding Aon’s credit insurance expertise to the Fineon Export Finance Platform enables exporters, banks and non-bank funders to access bespoke credit insurance solutions to mitigate risk and facilitate the financing of cross-border trade.
The Fineon online export finance marketplace platform uses artificial intelligence and machine learning to efficiently match exporters with the right funders and credit insurers to facilitate best-in-class export finance solutions. The bespoke trade credit insurance offering will facilitate exporters to reach new markets, access new sources of export finance and securely execute cross-border trade.
“Credit insurance is a strategic component within our Export Finance Platform as it provides both risk mitigation for exporters and capital relief for funders, thereby enabling us to produce blended optimised export finance solutions for our European Exporter client base," said Michel Kilzi, managing partner at Fineon Exchange.“In Aon we have chosen the market leading credit insurance broker with a wealth of industry expertise and know-how that can help develop our mutual businesses and grow market share through our fintech platform.”
Aon, via the Fineon Platform, will be able to offer clients a simplified and more comprehensive trade finance experience benefiting from cost of funds optimisation, efficient cash flow generation and risk mitigation.
“The convergence between insurance and funding is becoming more apparent and is increasingly the direction of travel for our business," said Stuart Lawson, chief executive officer at Aon Credit Solutions. "More than 50% of our new business enquiries are linked to a financing motivation and objective. Our collaboration with Fineon Exchange fits perfectly with this trend. Through the Fineon Platform we will see the further coming together of credit insurance and funding."
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