Trade finance that bridges the physical and the digital
The digital revolution is creating a place where counterparties can communicate, clearly and securely. Digital real-time monitoring of commodity inventories eliminates outdated paper trails. See your inventory wherever and whenever you choose 24/7.
VERIDAPT allows you to reduce the operational and process risk associated with trade commodity finance.
With VERIDAPT bad actors are unable to exploit gaps in banks’ knowledge to obtain finance illicitly. This greatly reduces the risk of double-financing, theft, pilfering and other crimes.
VERIDAPT’s platform integrates real-time inventory data with automated covenants for bankers and traders.
Manage inventory risk
Receive independent tank inflow and outflow information in real-time, generate approvals on inventory movements and automate reconcilation processes. Receive alarms notifying anomalies.
Automate financial and non-financial covenants
Pre-set interval reporting with automated approval processes of movements and track progress. Generate holding certificates automatically and mark to market reporting.
Manage facility limits
Monitor utilsation of factilities against limits. Receive simple reporting detailing capital allocation against cargo purchases and inventory holdings.
Manage process risk
Define a consistent process that will be followed for all deals and ensure critical steps are not missed with a complete audit trail across all parties on the deal.
Collaborate securely and easily
Enable counterparties to collaborate securely and efficiently from a single source of truth with complete visibility of status across authorised stakeholders.
VERIDAPT partners with SGTraDex to bring greater transparency to trade flow
VERIDAPT and SGTraDex are working together to best connect ecosystem partners in the local and global supply chains via a common data infrastructure.
SGTraDex is a public-private initiative whose goal is to use APIs to facilitate the mobility of information that can be unavailable or cumbersome to access for parties involved in a trade.
VERIDAPT’s partnership with the platform is helping achieve this goal by integrating VERIDAPT’s single system solution, DealFlow, for stakeholders to manage activities, transactions and documents at a glance.
The result is a one-stop collaborative tool that ensures transaction information is secure and accurate for banks, traders and terminals.
“The digitalisation of commodity financing will not only bring about manpower efficiencies by reducing archaic reliance on paper documents but also enable greater transparency, security and accountability gains, providing a better experience and streamlined process for all players in the ecosystem.”
Head of Corporate Sales and Head of Commodity Sales
Major Singapore Bank