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ING partners with AI-driven trade platform Tradeteq

Dutch multinational banking and financial services corporation ING has partnered with AI-driven platform, Tradeteq in a bid to facilitate the distribution of commodity trade finance exposures to non-bank institutional investors.

“This is the first time ING applies technology to facilitate trade finance asset distribution, with potential yet to be unlocked for the distribution of other wholesale and retail banking lending portfolios,” said Rene Hoogland, managing director at ING Balance Sheet Distribution.

Tradeteq is an e-trading platform that allows banks and institutional investors for transacting in trade assets and uses advanced analytics and AI-driven credit scoring to give trade finance assets accurate risk scores, helping investors to evaluate opportunities, make better-informed decisions and eliminate manual processes.

“ING’s and Federated Hermes’ use of Tradeteq is a clear example of how the trade finance market is being transformed. Tradeteq is opening up the trade finance market to institutional investors and offering access to an alternative asset class with high levels of transparency and yield opportunities. At the same time, the platform enables banks to reduce their risk exposures and tackle the US$1.5 trillion trade finance gap,” said Christoph Gugelmann, CEO of Tradeteq.

The platform provides an end-to-end solution that covers three elements including portfolio management and trading automation, risk analytics that provide greater transparency and securitisation-as-a-service. This allows investors to access trade finance in a standardised way.

“This transaction shows how Tradeteq’s electronic platform facilitates the distribution of an asset class with a short duration in an efficient manner, something not possible until now. The distribution of trade finance assets is a natural evolution of the trade finance market and Tradeteq’s technology is instrumental in helping us achieve this,” said Anthony van Vliet, global head of Trade and Commodity Finance at ING.

Recently, ING announced the formation of a taskforce Kickstart AI in partnership with Ahold Delhaize, KLM, NS, and Philips to promote the development and acceptance of AI technology in the Netherlands.

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