We are delighted to announce our membership with ITFA and to ITFA's flagship DNI Initiative.
We are an established and leading alternative finance provider that has delivered over £350M+ of working capital to UK SME businesses via digitalized payment obligations executed via our proprietary supply chain portal.
Funding the front end of the supply chain, we have processed over 6,500 individual client payments to 1,500 suppliers registered in 45+ countries. We work closely with the credit insurance
market to underwrite risk. Multi-Currency capabilities via live API make the payment process simple. Facilities from £100,000 to £2,500,000 or more, with payments being made to suppliers in the currency of our client’s choice.
Richard Fossett, CEO. TradeRiver (UK) Ltd explains the membership decision: “The Bill of Exchange is a simple yet powerful instrument for SMEs to get funding. We are delighted to be an early adopter of electronic bills of exchange as per ITFA’s electronic Payment Undertaking (ePU) and associated dDOC technical specifications. We are collaborating with Enigio to integrate its trace: original technology for the creation and management of inter
operable and digital bill of exchanges in the UK.”.
“The use of the ITFA ePU by a growing number of bank and non-bank originators demonstrates the scalability and commercial opportunity of digital negotiable instruments for various types of funders.”, adds André Casterman, Chair Fintech Committee, ITFA. “In addition, our technology framework known as dDOC ensures those e-payment obligations are as interoperable as possible, as required by MLETR and implemented by core technology provider Enigio.”.
The DNI Initiative is one of ITFA’s strategic market initiatives which has established the most specialized community of technology providers, law firms, financial institutions, and policy stakeholders committed to digitize trade flows as per UNCITRAL MLETR-compatible laws and ITFA’s dDOC specifications.