Mitigram, a leading global provider of digital trade finance solutions, has also signed a link partnership with Fides, a preferred multibank connectivity solutions. This partnership may be to improve the communication between the banks and the corporates in the trade finance industry as it looks to be disrupted.
Such a cooperation of Mitigram and Fides is a breakthrough in the direction of digitalizing all the operations in trade finance. Here, through defending global multibank connectivity and transaction communications easy and centralized, the two companies work to help global trade easy. These measures are expected to expand the on-boarding of corporate clients to digital platforms and common transactions still on an upsurge globally.
One of the more noteworthy advantages of the agreement in question is the ability to access the SWIFT network that will allow the clients to connect to several banks. It will also help in the establishment of bank identifier codes hence improving on the multibank connectivity. This is quite a significant achievement towards enhancing the trade finance functions for various companies in a more interlinked world.
Furthermore, it will enhance the treasury management systems as well as connectivity services of enterprise resource planning. This will assist corporations and banks to improve customers and other stakeholders’ engagement and interaction. In view of the above, export businesses will be able to access the best digital trade finance platform to support export finance. This will also help to reduce operating cost, the costs of trading in the market will be brought down thus promoting more trade activity.
Leadership Insights on Partnership
Philip Anklin, Chief Growth Officer at Fides said, “We are really excited to work with Mitigram and expand and deepen international relationships in global trade. We continue to witness tremendous progress in the digitization of trade finance, and this partnership will allow communities to engage, providing the internal accessibility of data and external exchange of communications
Pedram Tadayon, CEO of Mitigram, also shared his thoughts on the collaboration: It will assist the customers to better manage and enhance their internal and external communications as well as connecting with more than one bank thus enhancing the transparency between the banks and the corporations in the trade finance value chain. Additionally, commodity and manufacturing sectors are today’s major force towards digitalization, thus clients need enhanced connectivity to data that will create better and trusted communities of customers with the financial institutions.
Fides is well recognized across the world in the field of multibank connectivity, payment as well as transaction communications. Founded more than a hundred years ago, Fides is focused on the improvement of the speed, clarity and safety of the financial transactions in organizations.
Already partnered with over 4,000 clients, Fides now supports more than 13,000 banks via the Fides ONEHub or directly via API connections with enterprise resource planning (ERP), treasury management system (TMS), and other backend systems. These elements of service make it cost effective in management of cash and liquidity and complement the operation of business entities in today’s highly digitized world.
This mitigation partnership of Mitigram and Fides aim to enhance the whole trade transaction through bringing efficient improvement to the global trade finance, where businesses can acquire set of new capabilities and tools in managing the cross-border transaction with an ease.
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