Tradeteq credit-scoring to be added to Singapore’s one- stop Networked Trade Platform (NTP)

Trade finance network Tradeteq will become a value added service
(VAS) provider to the Singapore government’s digitalised international trade platform, the
Networked Trade Platform (NTP). Developed by Singapore Customs and the Government
Technology Agency of Singapore, the NTP is a one-stop trade and logistics ecosystem which
supports digitalisation efforts and connects players across the trade value chain – in
Singapore and abroad. It aims to provide the foundation for Singapore to be a leading trade,
supply chain and trade financing hub.

Tradeteq’s role as a VAS provider for NTP users, facilitates the use of the platform for trade
by offering instant credit analytics on counterparties. Tradeteq’s AI-powered credit scoring
can be generated at the touch of a button and in standardised formats — allowing traders,
bankers, lenders, and logistics companies to enhance their risk management processes.
“Many of the customers for Tradeteq’s services through NTP will be originating banks or non-
banks, with a need to assess the creditworthiness of particular entities,” says Tradeteq’s CEO
Christoph Gugelmann. “They need assessments that are rapid and available in a standardised
format, which our AI-powered credit-scoring service provides.”

The NTP was officially launched in Singapore on 26 th September 2018, by Singapore’s
Minister for Finance, Heng Swee Keat. Tradeteq is one of the earliest VAS providers of credit
scoring on the platform.

“NTP is at the forefront of Singapore’s initiative to digitalise trade, so it is a fantastic
achievement to be invited to offer credit scoring services on the platform,” says Gugelmann.
“It also demonstrates Singapore’s vision in understanding how trade is being digitalised and
democratised – with elements such as the availability of credit scoring a critical part of that
process.”

Singapore headquartered GTR Ventures, the world’s first specialised investment platform for
trade and supply chain, is an early backer of Tradeteq. Says its CIO Kelvin Tan, “We are glad
to see Tradeteq do more with trade and trade finance in Asia, through Singapore. By
connecting to the NTP, Tradeteq will allow more Singapore based traders and SMEs to gain
greater access to funding. We encourage global fintechs for trade to follow Tradeteq’s
example. Access markets, lenders, and customers in Southeast Asia, as well as Hong Kong
and Greater China, through NTP’s connection to Hong Kong’s digital trade platform and other
regional trade nodes that subsequently follow.”

Ms Serene Ho, Director of NTP Office adds: “Tradeteq and the NTP share the same goals of
digitalising trade and opening trade to the greatest number of participants. We recognise
that instant and available credit scoring contributes to that goal, so this is a partnership that
we are delighted to announce.”

Both NTP and the Tradeteq marketplace are part of a growing global “tradetech” trend of
digitalising international trade – aimed at helping close the “trade finance gap” between
supply and demand for trade finance, which is estaimated US$1.6 trillion globally.