The MonetaGo Secure Financing system facilitates digitalization and reduces risk in trade finance.
The Secure Financing system
Secure Financing, a part of MonetaGo’s Digital Public Infrastructure (DPI), is a multi-module trade finance operating system that combines digitization and fraud prevention solutions by leveraging encryption and confidential computing technology. This enables financiers to cooperate to detect suspicious transactions.
Solutions
Duplicate financing detection
We don't change the application or workflow for managing your financing operations, we supplement them with the required data to identify duplicate financing requests from customers, shielding you from risk and losses.
In production for years, operational over hundreds of billions of dollars of trade, we are a trusted, proven, detection solution for duplicate financing.
Our industry leading approach with Google confidential compute enables ecosystem level duplicate financing detection at scale.
We don't store your documents. We are trade finance product agnostic. By leveraging a few metadata fields from trade documents, we can provide insight into both exact matches (exact document being financed at another financial institution) and partial match detection (when fraudsters alter some fields in their attempt to evade detection).
Fraudulent document detection
Using document data submitted by Lenders, we use trusted independent golden sources of data to authenticate whether a document is genuine or not.
Partnership with the world's largest maritime intelligence provider to confirm the authenticity of Bills of Lading and containerised cargo along with other relevant shipment information.
Interface to GST/VAT Registries in countries where e-invoicing is mandated to confirm the authenticity of an invoice submitted for financing and prevent fresh air invoicing.
Country integrations with local customs; rail, truck and air cargo databases to validate document and shipment information as well as commercial price data.
Collateral registry
Moveable assets registry
Most countries have a form of collateral registry that enables registration of a generic charge or assignment against a company in favour of a lender that creates a ranking prioritisation.
MonetaGo DPI registry
Most assignment processes are paper-based with wet signatures although do often allow digital filing. However, notice to the buyer is required which is usually send by post so hard to evidence. MonetaGo's automated DPI collateral and invoice registry using digital signatures will automate both signing by the seller to create an assignment and then notice to the buyer which can be signed or deemed acknowledged if no response.
Transactional assignments
Lenders are unable to register the specific receivables they are financing as these change daily or weekly given business volumes. Transactional assignments are taken but without an invoice registry there is no way to validate whether an invoice has been assigned already.
Lender confidence
Certainty of a lenders' security position will enable increased lending to so-called poor credit grade companies particularly in the SME space who have no fixed assets so use their receivables as assets.
VAT registry
Automation and e-filing
There is a significant VAT gap in most markets. Without automated e-filing of invoice data, governments are significantly under collecting taxes.
MonetaGo's DPI VAT registry will not only increase government revenues but enable lenders to validate that invoices are genuine and thus reduce fraud caused by fresh air invoices.
Commercial
Additionally cargo and commercial pricing information can be validated including against digital customs records to ensure consistency and avoid fraudulent pricing submissions for nefarious purposes.
Ways to connect
Secure Financing is available to financiers as a web-based UI as well as RESTful API, with multiple channels available.
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Where automated integration is not viable or cost-effective, a web application can be used for processing of transactions. This will also provide a visual platform for report generation by users even if they are API consumers.
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Client integration to APIs is facilitated by OpenAPI 3 specifications and ISO 20022 compliance.
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To facilitate as many integration options as possible, MonetaGo works openly with various channel partners to offer access to the service, including direct integration to existing trade platforms and core systems providers.
Swift & MonetaGo: The Trade Finance Validation Service
Secure Financing is available
via the Swift API gateway.
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In a first-of-its-kind partnership with Swift, the Secure Financing solution is the first value-added trade service accessible to Swift’s 11,000 members worldwide via the Swift Global API Gateway.
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Swift provides identity management, authentication, security, network reach and connectivity for banks worldwide to the global Secure Financing service.
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Learn more about Secure Financing available via Swift here.
How to join
Getting started is easy
Getting started with MonetaGo is easy. Simply fill in the below form and a local representative will contact you.
