ON TODAY: 'Is digitalisation the panacea for inclusive global trade?', at the World Trade Organization Public Forum 2024. Featuring moderator Emmanuelle Ganne of the World Trade Organization, and panelists Patrick Utomi of African Export-Import Bank (Afreximbank), Pamela Mar of International Chamber of Commerce Digital Standards Initiative, Shona Tatchell of EBRD Trade Facilitation Programme, and MonetaGo CEO Neil Shonhard. Financial inclusion and digitalisation are two of the most pertinent topics – and problems – facing global trade today. Issues are well documented; stemming from the $2.5tn trade finance gap impacting developing economies and underserved communities the hardest, to the 57% of worldwide trade finance applications being rejected due to a lack of available information; the advent of digitalisation and proliferation of technologies can be applied to deliver meaningful outcomes to many. This session delves into the facts of why developing and underserved communities face significant barriers in accessing finance and what can be done to address it, looking at the critical role SMEs and MSMEs play in initiating economic growth. Click the link in comments to see more on the WTO Public Forum and this session. We hope to see you there! #WTOPublicForum #DigitalTrade #SME #GlobalTrade #TradeFinance
MonetaGo
Financial Services
New York, New York 10,308 followers
Global Fraud Prevention for Finance and Trade
About us
Join the MonetaGo community here: https://www.monetago.com/home/#join-mailing-list MonetaGo is a provider of best-in-class fraud detection and prevention solutions. The MonetaGo Secure Financing system facilitates digitalization and reduces risk in trade finance. Secure Financing is a multi-module trade finance operating system that combines digitization and fraud prevention solutions, by leveraging encryption and confidential computing technology. Its Secure Financing systems enables banks, traditional financiers, non-bank financial institutions, fintechs, and trade finance funds to check for duplication and authentication of financing requests linked to invoices, bills of lading, air waybills, warehouse receipts, purchase orders, and other trade-related documents. By reducing fraud in trade finance, MonetaGo’s business activities align with worldwide political and regulatory mandates that empower institutions to sustain supply chains and extend their books of business into new markets and to underserved sectors, all while maintaining privacy and enabling critical real-time decision making. MonetaGo’s award-winning Secure Financing solution is available to financiers globally via multiple connectivity methods, including Swift.
- Website
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http://www.monetago.com
External link for MonetaGo
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Founded
- 2014
- Specialties
- FinTech, B2B, Trade Finance, and Fraud Prevention
Products
Secure Financing
Fraud Protection Software
The MonetaGo Secure Financing system facilitates digitalization and reduces risk in trade finance. Secure Financing is a multi-module trade finance operating system that combines digitization and fraud prevention solutions, by leveraging encryption and confidential computing technology. The Secure Financing system enables banks, traditional financiers, non-bank financial institutions, fintechs, and trade finance funds to check for duplication and authentication of financing requests linked to invoices, bills of lading, air waybills, warehouse receipts, purchase orders, and other trade-related documents. Leveraging encryption and confidential computing technology enables financiers to cooperate to detect suspicious transactions in a collaboration that was not previously possible. Leading with a global-utility, standards-first, and industry organization-approved approach breaks down silos for truly effective, cross-border fraud prevention.
Locations
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Primary
New York, New York, US
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Singapore, SG
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London, GB
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Mumbai, IN
Employees at MonetaGo
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Todd Rosner
VP Cloud Engineering at MonetaGo
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Robyn Dittrich GAICD
Vice President, Global Business Services at BHP
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Gaurang Talati
VP at MonetaGo | Certified Prince 2® | Project Management | Business Analysis | RPA | Regulatory Compliance | Blockchain
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Arnau Porto
coFounding, CEO, Director at Global Technology Acquisition Corp I (GTAC I) - SPAC
Updates
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The International Chamber of Commerce Digital Standards Initiative (DSI) published its latest report “Key Trade Documents and Data Elements on the Frontlines” last week at Global Trade Review (GTR) Asia, and is an in-depth look at digital transformation of four different processes within the supply chain: shipping and logistics, commercial documents, cross-border regulatory compliance, and financial services and fraud prevention. MonetaGo is a featured case study within the report, looking at how we met the challenge of delivering tech-enabled, privacy-preserving data sharing to prevent trade finance fraud. This report is a must-read for businesses and governments looking to navigate the complexities of digital transformation in global supply chains. Click through to read our case study and others to see how digitalisation is driving tangible results and uncovering unexpected benefits along the way. Kudos to Pamela Mar and Hannah Nguyen of ICC DSI, Niels Nuyens of Digital Container Shipping Association (DCSA), Bertrand Chen of Global Shipping Business Network (GSBN), and Annerose Ngemu of African Export-Import Bank (Afreximbank), for your efforts to produce this important report. #DigitalTrade #KTDDE #ICCDSI #GlobalTrade #FraudPrevention #DigitalTransformation
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The 2024 World Trade Organization Public Forum has kicked off with a record number of attendees expected, and featuring the presentation of the WTO’s 2024 World Trade Report by Director-General Ngozi Okonjo-Iweala. Joining us for the session 'Is digitalisation the panacea for inclusive global trade?' in Geneva is Shona Tatchell, Director, EBRD Trade Facilitation Programme (TFP). Shona leads the EBRD TFP as they work to promote and facilitate trade for SMEs and MSMEs with key economies. Also participating in the session is Pamela Mar of International Chamber of Commerce Digital Standards Initiative, Emmanuelle Ganne of the World Trade Organization, Yusuf Daya, of African Export-Import Bank (Afreximbank), and MonetaGo CEO Neil Shonhard. This session delves into the facts of why developing and underserved communities face significant barriers in accessing finance and what can be done to address it, looking at the critical role SMEs and MSMEs play in initiating economic growth. Read the latest news from the WTO Public Forum via the link in comments. #WTOPublicForum #SME #DigitalTrade #GlobalTrade
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Joining us at the World Trade Organization Public Forum 2024 in Geneva is Pamela Mar, Managing Director, Digital Standards Initiative (DSI) at the International Chamber of Commerce. Pamela leads the DSI's work to accelerate the development of a globally harmonised, digitalised trade environment, as a key enabler of dynamic, sustainable, inclusive growth. Also participating in the session 'Is digitalisation the panacea for inclusive global trade?' is Shona Tatchell of EBRD Trade Facilitation Programme, Emmanuelle Ganne of the World Trade Organization, Yusuf Daya, of African Export-Import Bank (Afreximbank), and MonetaGo CEO Neil Shonhard. This session looks at financial inclusion and digitalisation as two of the most pertinent topics – and problems – facing global trade today. Issues are well documented; stemming from the $2.5tn trade finance gap impacting developing economies and underserved communities the hardest, to the 57% of worldwide trade finance applications being rejected due to a lack of available information; the advent of digitalisation and proliferation of technologies can be applied to deliver meaningful outcomes to many. See more on the session and WTO Public Forum via the link in comments. #WTOPublicForum #globaltrade #digitalisation #financialinclusion
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Joining us at the World Trade Organization's Public Forum 2024 in Geneva, 10-13 September, is Emmanuelle Ganne, Senior Analyst, Economic Research Department at the World Trade Organisation. She is a vocal advocate for digitalisation as a critical component in removing barriers and promoting growth and development for SME's in global trade. Also participating in the session 'Is digitalisation the panacea for inclusive global trade?' is Shona Tatchell of EBRD, Pamela Mar, of the International Chamber of Commerce Digital Standards Initiative, Yusuf Daya, of African Export-Import Bank (Afreximbank), and MonetaGo CEO Neil Shonhard. This session delves into the facts of why developing and underserved communities face significant barriers in accessing finance and what can be done to address it, looking at the critical role SMEs and MSMEs play in initiating economic growth. See more on this session, and the WTO Public Forum via the link in comments. #WTOPublicForum #digitalisation #globaltrade #trade
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Trade Finance Global (TFG) have released their first magazine edition dedicated entirely to Africa and the Middle East, exploring trends and opportunities for trade finance in a region encompassing approximately 2 billion people- 25% of the global population. Featured in the magazine is MonetaGo CEO Neil Shonhard's chat with Sean Bowey, Head of Product, Global Trade and Receivables Finance, SAB, where they explore Saudi Arabia’s ambitious ‘Vision 2030’, and what this means for the new world of #MLETR compliant trade. Read the article, 'Q&A: Reducing risks and boosting growth in Saudi Arabia and the GCC' on page 48. #africa #middleeast #tradefinance #receivablesfinance #fraudprevention
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ITFA's 50th Annual International Trade & Forfaiting Conference commences today in Limassol, #Cyprus. Co-chair of ITFA's Fraud Working Group, and MonetaGo Director, Ian Milne is there, to meet with industry experts and colleagues to discuss digitalisation and barriers to success for rapid growth of the receivables market. A key session, 'ITFA Multilaterals- where next?', is on today as leaders from African Export-Import Bank (Afreximbank), EBRD, IFC - International Finance Corporation, and African Development Bank Group speak about a vital element in global trade- how their mandate-backed focus on generating meaningful growth and development in their regions can decisively contribute to the narrowing of the gap, and what they see as being the role of their private sector partners in that journey. Contact us to meet and hear the latest from MonetaGo on global best practice in registries and fraud prevention measures for finance and trade practitioners. See the full conference programme via the link in comments. #digitalisation #trade #globaltrade #fraudprevention
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NEW REPORT: The International Chamber of Commerce Digital Standards Initiative has just launched its new report at Global Trade Review (GTR) Asia, “Key Trade Documents and Data Elements on the Frontlines”, an in-depth look at digital transformation of four different processes within the supply chain- shipping and logistics, commercial documents, cross-border regulatory compliance, and financial services and fraud prevention. MonetaGo is a featured case study within the report, looking at how we met the challenge of delivering tech-enabled, privacy-preserving data sharing to prevent trade finance fraud. This report is a must-read for businesses and governments looking to navigate the complexities of digital transformation in global supply chains. Dive into our case study and others to see how digitalisation is driving tangible results and uncovering unexpected benefits along the way. Congratulations to Pamela Mar and Hannah Nguyen of ICC DSI, Niels Nuyens of Digital Container Shipping Association (DCSA), Bertrand Chen of Global Shipping Business Network (GSBN), and Annerose Ngemu of African Export-Import Bank (Afreximbank), for your work in producing this report. #DigitalTrade #KTDDE #ICCDSI #GlobalTrade #FraudPrevention
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Global Trade Review (GTR) Asia, at Marina Bay Sands, Singapore, has kicked off for 2024. In its 15th year, Global Trade Review (GTR) Asia brings together over 1,300 practitioners in trade and supply chain finance, commodity finance, fintech and treasury. Visit us on site today and tomorrow, with Neil Shonhard, Jialing Chia, and Vishal Hiranandani in attendance, along with MonetaGo partners Global Legal Entity Identifier Foundation (GLEIF), Lloyd's List Intelligence, and Swift, as well as African Export-Import Bank (Afreximbank), and Asian Development Bank (ADB). Key topics to be discussed include changes to the dynamics within global trade and commodity supply chains, Asia’s role as a global growth engine for trade, and moving from standards to adoption in digital trade. Contact us to meet and hear the latest from MonetaGo on global best practice in registries and fraud prevention measures for finance and trade practitioners. #trade #globaltrade #supplychain #digitaltrade #fraudprevention
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New whitepaper: 'Factoring and credit insurance: A partnership for financial resilience' At FCI ’s 56th Annual Meeting in Seoul, a panel of experts discussed the intricate relationship between credit insurance and factoring. Panelists included: Shan Aboo, Chief Commercial Officer for Asia Pacific, Allianz Trade Neil Shonhard, Chief Executive Officer, MonetaGo Dorota Szcześniak, Member of FCI Executive Committee and Supply Chain Finance Committee Karol Leszczyński, Product Manager, Comarch Moderated by Deepesh Patel , Editorial Director, Trade Finance Global (TFG) This whitepaper explores the symbiotic relationship between credit insurance and factoring, in risk mitigation and enhanced liquidity, to market expansion and data and insights; and how these tools are applied in international trade to provide businesses with stability in often uncertain markets. Read the full whitepaper, published and produced in partnership with FCI and Trade Finance Global (TFG), free via the link in comments. #factoring #globaltrade #creditinsurance #fraudprevention #tradefinance #whitepaper