Surecomp introduces trade finance innovation lab

Thursday 18 April 2019 11:27 CET | News

Surecomp, a provider of trade finance systems to banks and corporates, has launched an innovation lab to bring together its trade finance digitisation initiatives.

Based in Israel’s Silicon Wadi and led by Surecomp’s head of digitalisation Lyron Wahrmann, SureLab will employ a multi-disciplinary staff of technologists, developers, product managers and UX/UI specialists.

SureLab will investigate how technologies including blockchain, robot process automation, regulatory technology and internet of things can best be utilised in trade finance areas such as supply chain, client interaction, open banking, back office processing and others. It will also provide an incubation environment for Surecomp clients and third-party fintech companies.

During Q1 of 2019, Surecomp released two innovations: APIsure, an open API platform which enables its clients to easily adopt third-party trade finance services and fintech solutions, and SureStore, an online app store for trade finance-focused fintech solutions.

The next initiative underway is SureConnect, a distributed network which will enable secure peer-to-peer communication between any corporate and any bank, allowing for the digitalisation of assets over the blockchain while mitigating risk and improving efficiency.

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Keywords: Surecomp, trade finance, innovation, API, distributed network
Countries: World