\n<\/p>\n
SINGAPORE
In its
Importantly,
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CALISTA
\u00a0<\/p>\n Trade
Plugging
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In
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“We are
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“We will
\n–\u00a0Media OutReach<\/a>\u00a0–\u00a02\u00a0June
\n2021 –\u00a0<\/b>Global eTrade Services (GeTS) is proud to be recognised as
\none of the Outstanding Innovators in Trade Finance category for “Global Finance
\nThe Innovators 2021” annual selection program.<\/p>\n
\n
<\/p>\n
\nninth year, this unique program by Global Finance recognises organisations that
\nconsistently identify and innovate new ways and tools in finance. \u00a0Award categories include Outstanding
\nInnovations in Cash Management, Corporate Finance, Islamic Finance, Payments
\nand Trade Finance.<\/p>\n
\n
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\nGeTS’ CALISTA Finance (part of CALISTA \u2013 a global supply chain orchestration
\nplatform) won this recognition due to the innovative process design and AI technology
\nthat enables trade financing to be more accessible, predictable and easier to
\nfulfil for traders.<\/p>\n
\n
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\n
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\nbrings together key trade activities such as logistics, regulatory compliance
\nand trade finance on a digital eco-system that serves the shippers and
\nlogistics stakeholders.\u00a0 Through CALISTA,
\nshippers can book and track their freight, fulfil regulatory requirements, and
\nsecure financing for their trades.\u00a0
\nCALISTA also supports Logistics Service Providers (LSPs) by helping them
\nto digitalise their sales process and allowing them to collaborate seamlessly
\nand efficiently. <\/p>\n
\n
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\nfinancing is traditionally a complex and timely process with many documents and
\ninteractions between the borrowers and financiers.\u00a0 To maintain economic
\ngrowth and ensure smooth cross-border trade, businesses need access to adequate
\nfunds. \u00a0For example, in Southeast Asia,
\naround 39 million[1]<\/a> small and medium-sized companies contribute
\n40 %[2]<\/a> of the region’s gross domestic product
\n(GDP), but these SMEs typically do not have access to financial support.\u00a0 During the COVID-19 crisis, global supply
\nchains were severely disrupted, which further compounded the woes of SMEs.<\/p>\n
\n
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\nthe gaps in trade finance between the different trade parties \u2013 CALISTA Finance
\ndigitalises the entire trade financing application process through the use of
\noptical character recognition (OCR) technology and an Artificial
\nIntelligence\/machine learning (AI\/ML) credit engine. This enables CALISTA
\nfinance to offer fast and fuss-free financing with a turnaround time of within
\n72 hours from application to securing of loans, a process which generally takes
\napproximately 2 weeks for the banks.<\/p>\n
\n
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\n
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\naddition, CALISTA Finance has an outstanding performance in risk management and
\nmitigation. \u00a0As a result, it offers
\nlenders a viable channel to access the potential borrowers in the global trade
\nsegment. <\/p>\n
\n
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\n
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\nvery honoured to receive this recognition from Global Finance,” said Chong Kok
\nKeong, CEO of GeTS.<\/p>\n
\n
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\n
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\ncontinue to revolutionise the way trade is financed through a one-stop solution
\nthat provides financing options where businesses can strengthen their
\nliquidity, get easier access to improve their cash flows and ultimately
\nincrease their competitiveness in their trade activities.”<\/p>\n