Our newest application allows banks, traders and terminals to collaborate more efficiently and securely than ever before
DealFlow, introduced in late 2022, digitises the trade flow process and promotes greater liquidity and new business across the energy trade sector.
A number of high-profile fraudulent commodities crimes have led to a loud and clear call for a digitised, integrated solution providing maximum transparency, verification and data sharing throughout the life of trade flow transactions.
For the first time, users are provided the visibility of every transaction across all parties with a clear understanding of where a deal stands. This ensures all information originates with a verifiable source, preventing fraudulent behaviour, such as double financing.
DealFlow allows users to communicate and exchange information, via a one-stop, collaborative platform, highly user friendly for bank, trading and third party storage counterparties. Importantly, DealFlow eliminates the need for email communication.
DealFlow Benefits
- Easy document drag and drop capabilities
- Instant notification to stakeholders when actions are required or when milestones are achieved
- Instant notification when important documents have been provided, like Certificates of Quantity and Bills of Lading
- Creation of chat rooms for designated parties to communicate, securely
- Seamless approval processes
- Real-time monitoring and confirmation of physical inventories to match Certificate of Quantity
VERIDAPT is in partnership with Singapore’s SGTraDex to reduce commodities fraud and provide access to the Singapore Trade Finance Registry and TradeTrust. DealFlow enabled SGTraDex to activate its digitised, secure and efficient platform for multiple counterparties.
