Singapore – CCRManager Pte Ltd, a global trade FinTech company, today announced the launch of an innovative new electronic platform developed for the distribution of trade finance, supply chain finance and working capital assets.
Bank of China, DBS Bank, ICICI Bank, Swiss Re Corporate Solutions, and UniCredit have signed up as pioneer members of the platform to support their trade risk distribution business globally. In addition ANZ Bank, Bank of America Merrill Lynch, BBVA, Bank of East Asia, BNP Paribas, HSBC, Industrial and Commercial Bank of China, Mitsubishi UFJ Financial Group, Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation have signed a Letter of Intent to become a member of CCRManager within the next few months.
Developed with the support of the Monetary Authority of Singapore (MAS) and major global financial institutions, CCRManager will provide the global financial sector with infrastructure designed to enhance capital, credit, and liquidity management.
Said Tan Kah Chye, Chairman of CCRManager, “This is truly a collaborative effort supported by leading trade finance institutions providing over 1,000 man hours to help design and refine the platform. This is our contribution to development of the global financial ecosystem as a group.”
The platform is web-based and will enable banks to manage the entire process of distributing trade finance internationally to other banks, credit insurers, and fund managers. Users of CCRManager will be able to list assets for distribution, negotiate deals, and manage supporting documentation in a secure environment. They will also have access to tools for data analytics, market benchmarking, and pricing indices. In addition, CCRManager will provide users with the ability to manage their portfolio, reporting, and compliance activities 24-hours a day.