Commodities Intelligence Centre introduces CIC Data Pro
By Edil Corneille
Commodities Intelligence Centre (CIC) announced the launch of an international version of its web-based business intelligence suite – CIC Data Pro and Leads Generation Service. CIC will offer the new packages in partnership with the Singapore Business Federation (SBF) to eligible members under the Rising in Support of Enterprises (RISE) Programme.
The SBF RISE Programme aims to help Singaporean businesses especially SMEs, to overcome challenges created by COVID-19. It helps to fasten the digital transformation efforts of these businesses.
CIC Data Pro leverages big data analytics to drive insights from a collection of 1.5 billion records of customs and trade data in a broad range of industry verticals, from manufacturing, import-export, wholesale and logistics to financial services. The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It will provide customised market insights into the trading activities of global companies, and information on counterparties, production specifications and past shipment details.
Peter Yu, Chief Executive Officer, CIC said, “Every industry has been impacted by the global spread of Covid-19. Businesses around the world are facing greater risks and challenges with the disruption of production and supply chains coupled with increased uncertainties of customer demand. CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic.”
CIC Data Pro is currently available on the CIC platform and is part of the suite of solutions offered by the company to help businesses reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management.
CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade finance. This fund will enable businesses and SMEs to use CALISTA Finance to address short-term liquidity challenges and to fulfill trade financing needs seamlessly, securely, and smartly.
CIC is a joint venture by Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX). Since launching in October 2018, the company has achieved a gross merchandise volume of US$12.7 billion (S$17.7 billion), with over 5,000 registered users from Singapore, Malaysia, Indonesia, India, and China, among other countries in Asia.
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage