10.03.2020

Crédit Agricole CIB comes onboard the Marco Polo Network

Following an evaluation period in 2019, Crédit Agricole CIB has announced that it is entering a pilot phase on the Marco Polo Network, one of the largest and fastest growing trade and working capital finance networks in the world, focusing on bringing significant efficiencies in trade, receivables and supply chain financing.

The Marco Polo Network provides next-generation trade and working capital finance solutions to its members, powered by open Application Programming Interfaces (APIs) and blockchain technology on an interoperable business network. It enables end-to-end, real-time, seamless connectivity between trade participants, eliminating data silos, which prevent free flow of information causing inefficiencies and discrepancies.

It is delivered via the Marco Polo Platform, an open platform providing applications, technology tools and core infrastructure for the trade finance ecosystem, and underpinned by Corda, an enterprise grade blockchain platform designed from the ground up for businesses operating in complex and highly-regulated markets.

By developing a suite of highly-customizable applications, including APIs and ERP-embedded apps, Marco Polo provides banks and corporate customers with a strong collaboration network. In addition, Marco Polo gives access to a broader ecosystem of working capital and trade finance participants such as insurers, logistics providers, non-banks, and B2B networks providers as well as connectivity with other trade networks.

 

Laurent Chenain, Global Head of International Trade & Transaction Banking at Crédit Agricole CIB

“At Crédit Agricole CIB, we’re committed to offering our customers optimum trade and working capital finance solutions. Thus, we’re very pleased about this great opportunity with Marco Polo. It is an innovative network that brings together corporates, financial institutions, supply chain stakeholders and software providers, to build the future of international trade and transaction banking”.

 

Daniel Cotti, Managing Director, Center of Excellence, Banking & Trade at TradeIX & the Marco Polo Network

“Today, we have the resources and technology to transform the way banks serve their trade finance customers and enable easier access to credit while minimizing risk and increasing transparency.

The Marco Polo Network has embarked on an extremely exciting journey and we’re delighted to confirm our relationship with Crédit Agricole CIB in this pilot phase”.

 

Cathy Minter, Chief Revenue Officer of R3

“Marco Polo’s global network will facilitate greater transparency and efficiency in cross-border trade. We are pleased to see Crédit Agricole CIB progressing in the initiative and their involvement is another sign of Marco Polo’s continued momentum in developing trade finance solutions worldwide”.

Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2019). Nearly 8,000 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

For more information, please visit www.ca-cib.com  

R3 is an enterprise blockchain software firm working with a global ecosystem of more than 300 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

R3’s global team of over 300 professionals in 13 countries is supported by over 2,000 technology, financial, and legal experts drawn from its vibrant ecosystem. 

The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com and www.corda.net.

TradeIX is a multi-award-winning technology provider and network operator of the Marco Polo Network driving innovation and change in facilitating the flow of goods, money and credit in global trade.

Some of the smartest financial institutions and companies in the world work with TradeIX, including Accenture, BNY Mellon, Bank of America, BNP Paribas, Commerzbank, ING, LBBW, Anglo-Gulf Trade Bank, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, Danske Bank, NatWest, DNB, OP Financial Group, Alfa Bank, Bayern LB, Helaba, S-Servicepartner, Raiffeisen Bank International, Standard Bank, Intesa Sanpaolo, National Bank of Fujairah PJSC, National Australia Bank, Bradesco, AIG, DHL and many other Fortune 500 companies from various industries.

TradeIX is headquartered in Dublin with offices in the UK, Singapore and operations in Germany and the US.  

or more information visit: https://tradeix.com/

For more information on how your organization can be part of the Marco Polo Network, visit https://www.marcopolo.finance/