Fourteen partner banks have marked the official launch of the Trade Club Alliance, a digital platform that is designed to help businesses bolster global trade.
The platform will help identify businesses that are looking to trade goods internationally and will provide insight on regulations and trade tariffs for the relevant countries. It will provide members with market information on more than 180 countries including currency analysis, market trends and shipping requirements, serving as a conduit for trusted buyers and suppliers to connect with counterparts in markets around the world.
The initiative was created by Santander in 2015, to connect businesses in Europe with Latin America. Following its success, the programme was rolled out worldwide and saw the formation of the Trade Club Alliance. The partner banks that make up the alliance cover some of the world’s most established and fast-growing markets, such as Africa, Latin America and South East Asia. By 2022, more than 90% of global trade corridors will be covered by the platform, helping more than a million companies worldwide.
“Only by coming together we can create tangible and sustained growth overseas for all our clients," said Javier San Félix, senior executive vice president and head of Global Payment Services at Banco Santander. "Through Trade Club Alliance’s combination of human connection and tech innovation, our clients can access a world of new opportunities. They can forge genuinely trusted relationships in new markets and have the latest trade tools and expertise at their fingertips. This is just the beginning of a deeper and better alliance to support our customers.”
The Trade Club Alliance says that its platform offers the following:
- State-of-the-art technologies: uses machine learning and cloud-based services with the best of breed social networking capabilities, comprehensive content and corporate banking advisory.
- Efficiency: helps accelerate the exchange of goods and services by uncovering ideal trade partnership opportunities and then simplifies the transaction process.
- Local support: Alliance banks’ dedicated 'experts & community managers' teams are available to offer advice at all stages of exporting and importing activity and financing alternatives.
- Market analysis: over 25,000 market reports from 186 countries.
- Commercial partners: 2,000 directories from 150 countries, 40,000 commercial fairs, 1,000,000 international tenders.
- Manage shipments: databases for over 120 countries;
- Analyse currencies: conversions of 147 currencies and weekly and monthly reports.
- Set up abroad: information on over 182 countries with over 2,500 pages.
This digital platform is available to trusted businesses of all sizes and will fully cover sectors including agriculture, machinery, textiles, chemicals, woods plastics and metals. Each Alliance bank is responsible for vetting businesses before they become a member, and will help oversee the admission process, actively identify and facilitate business opportunities and coordinate trade missions on the ground.
The full list of partner banks are: Abu Dhabi Commercial Bank, Attiijariwafa Group, Banco BPM, Banco Santander, Royal Bank of Canada, CIMB, Crédit Agricole Group, Eurobank, KBC Group, Industrial Bank of Korea, MUFG, Nordea Group, Siam Commercial Bank, and Standard Bank.
Trade Information Network officially established
The platform build is complete and the network is ready to pilot with banks and corporates.
Voltron trade finance consortium gains 50+ members
Launched last October by R3 and eight founding member banks, the initiative has gained traction after successful trials.
Marco Polo Network and Logwin execute a real-time trade transaction for the first time
Blockchain based trading platforms are making progress