I am a Banking and finance Professional, formerly with BNP Paribas Suisse in Geneva as a Relationship Manager for Financial Institutions (FI) dedicated to Commodity Trade Finance (CTF).
The blockchain becomes the new mantra in CTF business: prominent players joint their forces and launch platforms such as Komgo further to successful PoC, they are on the verge of doing live trade transactions in order to streamline the document process.
Less paperwork, less time and more security are the main goals behind the initiatives. More than ever, responsiveness, agility and cost efficiency will become key competitive advantages for banks.
Given their business model, commodity trading houses require quick answers from their banks regarding pricings or ability to issue or receive LCs, LGS, drafts…and to discount them. The acceleration of the transaction process implied by the Blockchain implementation will boost the need for FI people working in banks to act more responsively and efficiently....
I am a Banking and finance Professional, formerly with BNP Paribas Suisse in Geneva as a Relationship Manager for Financial Institutions (FI) dedicated to Commodity Trade Finance (CTF).
The blockchain becomes the new mantra in CTF business: prominent players joint their forces and launch platforms such as Komgo further to successful PoC, they are on the verge of doing live trade transactions in order to streamline the document process.
Less paperwork, less time and more security are the main goals behind the initiatives. More than ever, responsiveness, agility and cost efficiency will become key competitive advantages for banks.
Given their business model, commodity trading houses require quick answers from their banks regarding pricings or ability to issue or receive LCs, LGS, drafts…and to discount them. The acceleration of the transaction process implied by the Blockchain implementation will boost the need for FI people working in banks to act more responsively and efficiently.
Purposely, in order to accompany the industry changes, I have identified the opportunity to develop an application for mobiles based on the SaaS model (recurring reasonable usage fees of about 10$/month) entailing 3 main functionalities. The tool is designed:
1/to facilitate and build the contact network within the FI Community globally. Identifying and contacting in a timely manner a peer amongst Banking counterparts, often located in emerging countries, remains a competitive advantage.
2/to easily post deal opportunities on Primary and Secondary markets on a pre-deal basis. The platform is not aiming to process transactions for the time being.
3/to share relevant news in thematic groups to be created by users.
The app development is almost finalized. The company has to be incepted in Geneva soon.
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Jean-Yves DEPIERRE
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Jean-Yves DEPIERRE CEO I am an ex- banker highly motivated to create a startup in a flourishing niche market