News

Tech Mahindra to leverage the Marco Polo Network, supported by DBS

Friday 27 March 2020 10:31 CET | News

Tech Mahindra has become the first Indian corporate to leverage the Marco Polo Network and Platform for international trade finance.

The transactions were facilitated by DBS Bank which acted as Tech Mahindra’s leading trade bank, according to the official press release. As part of the tripartite partnership, a series of digitised trade finance transactions were completed utilising the Marco Polo Receivables Discounting module.

With more than 30 participants now spanning across six continents, Marco Polo is the largest and fastest-growing trade finance network based on a distributed architecture that allows members to offer and access a complete suite of trade and working capital solutions in a collaborative trade ecosystem.

Some of the advantages of the Marco Polo Platform include the digitisation of documentation, which reduces manual documentation and time required for the entire transaction cycle. Most importantly, both organisations experience faster reconciliation and ambiguity resolution due to the streamlined and simplified processes facilitated by Marco Polo.

Technology provider and network operator of the Marco Polo Network is TradeIX, a tech company headquartered in Dublin with offices in the UK, Singapore and operations in Germany and the US.

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Keywords: Tech Mahindra, Marco Polo Network, trade finance, DBS Bank, trade bank, TradeIX
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Singapore
This article is part of category

Banking & Fintech