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Natixis joins Marco Polo, the Trade Finance Network powered by Blockchain Technology
As part of its ongoing efforts to offer next-generation trade finance solutions to its clients, Natixis has announced that it has joined the trade finance network Marco Polo. Marco Polo is one of the fastest growing trade finance business networks and is a joint undertaking with enterprise software firm R3, trade finance technology firm TradeIX and a network of the world’s largest financial institutions.
Natixis is now part of a growing number of leading banks such as BNP Paribas, Commerzbank, ING, Standard Chartered Bank, Bangkok Bank, SMBC, DNB and OP Financial Group that are part of the Marco Polo initiative to provide a trade and supply chain finance platform built on an interoperable business network powered by open Application Programming Interfaces (APIs) and blockchain technology.
“We are delighted to become a member of the Marco Polo network and offer trade and supply chain finance solutions leveraging blockchain technology. This initiative belongs to Natixis’ continuous transformation plan, which is putting digital technology and innovation at the core of its strategy to improve the experience of its clients.” said Anne-Cécile Delas, Global Head of Global Transaction Banking at Natixis. "We look forward to active collaboration with the other key members of the initiative and believe that there will be significant opportunity to synergistically drive the adoption of blockchain and new trade solutions in the trade finance market."
Based on R3’s Corda blockchain technology, the infrastructure provided by Marco Polo is focusing on open account trade finance orchestrations with data matching, designed to be integrated in new and existing solutions and other trade networks. The principal focus of the Marco Polo initiative is adding new bank members, offering trade finance solutions to their corporate clients and the opportunity to distribute trade assets and data with other members.
“Blockchain’s potential to transform the trade finance ecosystem has always been clear. With the Marco Polo network on our Corda platform we are moving forward from potential to reality. We are pleased to welcome Natixis on board,” said David E. Rutter, CEO of R3.
“We are very pleased that Natixis has joined the Marco Polo network. This should be a signal that there is broad agreement in this sector that crosses some significant strategic and organizational boundaries about collaboration, leveraging new technologies and to provide standards and best practices in the traditionally fragmented regional trade finance space," said Daniel Cotti, CFO and Bank Partner Relationships at TradeIX.
R3 is an enterprise software firm working with a network of over 200 financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, its blockchain platform designed specifically for businesses. R3’s global team of over 1840 professionals in 11 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of USD 107 million from over 40 firms. Corda is the outcome of over two years of intense research and development by R3 and its members and meets the highest standards of the banking industry, yet is applicable to any commercial scenario
Contact:
Nick Warren/Nick Murray-Leslie
Chatsworth Communications
+44 (0)207 440 9780
contact@chatsworthcommunications.com
Charley Cooper
R3
+1 929 329 1550
TradeIX is rewiring the $8 trillion trade finance market with the TIX Platform, an open platform providing applications, technology tools, and core infrastructure for the trade finance ecosystem. The TIX Platform enables trade finance parties to more easily, flexibly and efficiently connect to the broader trade finance market, including suppliers, buyers, service providers, B2B networks, credit underwriters and financial institutions. The platform provides benefits to all trade finance parties through enhanced funding opportunities, lower cost and reduced risk. For more information visit: www.tradeix.com
Contact:
Oliver Belin
+1 404 428 1024
Expert
Anne-Cécile Delas
Global Head of Trade & Treasury Solutions, Corporate & Investment Banking, Natixis
Anne-Cécile Delas is the Global Head of Trade & Treasury Solutions at Natixis’ Corporate & Investment Banking division. Anne-Cécile Delas started her career...
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.1 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in. See note on methodology in the 2Q19 earnings material.
Figures as at 30 June 2019