Press release
11 August 2023
Singapore, 11th August 2023 – GUUD Pte Ltd, a cross border trade facilitation solutions company, has announced the seamless integration of its cutting-edge INFT supply chain financing platform with its award winning RYTE Multi-Bank Trade Finance Application Portal (RYTE TFAP) in a strategic move to revolutionize the trade finance landscape. This breakthrough integration aims to empower small and medium-sized enterprises (SMEs) by providing them with a wide range of trade finance solutions to enhance their competitiveness in the global marketplace.
RYTE TFAP is a multi-bank portal that was launched in November 2019 with the aim of helping corporates of all sizes reduce the hassle and complexities of having to navigate through different bank portals and requirements. The portal is free for all corporates and SMEs to use and allows corporates and SMEs to scale up their businesses while reducing operational complexity. Currently, there are 11 trade finance banks partners on RYTE TFAP. They are Mizuho, ANZ, BNP Paribas, DBS, HSBC, Industrial and Commercial Bank of China (ICBC), MUFG Bank, Oversea-Chinese Banking Corporation (OCBC), Sumitomo Mitsui Banking Corporation (SMBC), Standard Chartered Bank (SCB) and United Overseas Bank (UOB).
The INFT platform has already made significant waves in the market by offering real-time and efficient financing solutions like remittances and cashline to small and medium-sized enterprises (SMEs). With the new integration, it allows SMEs an easier and faster access to 11 banks to apply for trade financing products like banker’s guarantee, letter of credit, import and export pre and post shipment financing, receivables invoicing. It offers SMEs a more streamlined, transparent, and accessible platform to manage their business funding activities efficiently.
Key benefits of the integration include:
Convenience and Efficiency: Through a single portal, customers may access several banks and financial services, doing away with the need to log in to various bank accounts or visit various websites. This convenience helps clients manage their financial activities effectively.
Access to a Wider Range of Services: The RYTE Trade Finance application portal offers clients access to a broader range of trade finance products from different banks. This diversity allows clients to explore and compare various offerings to find the best deal to suit their specific business requirements.
Real-Time Visibility: Clients can track the progress of their trade finance applications in real-time through the portal. This transparency provides them with greater visibility into the status of their applications, helping them to plan and make informed decisions promptly.
Simplified Documentation and Compliance: The portal offer standardized application templates to reduce the burden of paperwork. Client’s data are safeguarded by adhering to the industry’s stringent regulatory compliance requirements.
Faster Processing: With streamlined processes and access to 11 banks, clients can enjoy faster processing times for their applications.
“The integration of our INFT platform with the RYTE Trade Finance Application Portal further strengthens our commitment to empowering SMEs by providing them with a wide range of trade finance solutions to thrive in the global marketplace. With streamlined application and processing, our customers can now enjoy a seamless and digitalised trade finance experience,” said Eldwin Wong, CEO of GUUD Finance, a wholly owned subsidiary of GUUD Pte Ltd.
With the integration, SMEs can now access a multitude of financial tools and services that were once reserved for large enterprises, enabling them to grow their businesses and compete on an international scale.
For more information about the INFT platform and the Multi-Bank Trade Finance Portal integration, please visit https://guud.company/
For media enquires, please contact:
GUUD Pte Ltd
Chong Kit Lee
Chief Marketing Officer
Kitlee.chong@guud.company
About GUUD Pte Ltd
GUUD is a market leading global trade technology company that offers end-to-end seamless digital solutions and platforms that simplify global trade. Our comprehensive solutions span the entire trade value chain, from procurement platforms, logistics and compliance platforms, supply chain financing solutions to eGovernment portals that help facilitate efficient cross-border trade.
Through connected platforms, we simplify global trade for key stakeholders like government agencies, cargo owners, freight forwarders, trucking companies and using technologies like AI-powered Cognitive Machine Reading (CMR), IOT tracking system, EDI and API integration.
GUUD Finance is a wholly owned subsidiary of GUUD Pte Ltd, is a trusted partner for businesses seeking innovative and effective financing solutions. Its deep understanding of trade finance and supply chain operations play a critical role in ensuring seamless trade finance and supply chain operations. With a focus on digitization, transparency, and efficiency, GUUD empowers businesses to optimize their trade processes and unlock new growth opportunities.
Headquartered in Singapore, we’re fast-growing with regional offices in Indonesia, Cambodia and Kenya. GUUD has completed B2B and B2G trade facilitation projects in more than 17 countries around the world.
Singapore, 11th August 2023 – GUUD Pte Ltd, a cross border trade facilitation solutions company, has announced the seamless integration of its cutting-edge INFT supply chain financing platform with its award winning RYTE Multi-Bank Trade Finance Application Portal (RYTE TFAP) in a strategic move to revolutionize the trade finance landscape. This breakthrough integration aims to empower small and medium-sized enterprises (SMEs) by providing them with a wide range of trade finance solutions to enhance their competitiveness in the global marketplace.
RYTE TFAP is a multi-bank portal that was launched in November 2019 with the aim of helping corporates of all sizes reduce the hassle and complexities of having to navigate through different bank portals and requirements. The portal is free for all corporates and SMEs to use and allows corporates and SMEs to scale up their businesses while reducing operational complexity. Currently, there are 11 trade finance banks partners on RYTE TFAP. They are Mizuho, ANZ, BNP Paribas, DBS, HSBC, Industrial and Commercial Bank of China (ICBC), MUFG Bank, Oversea-Chinese Banking Corporation (OCBC), Sumitomo Mitsui Banking Corporation (SMBC), Standard Chartered Bank (SCB) and United Overseas Bank (UOB).
The INFT platform has already made significant waves in the market by offering real-time and efficient financing solutions like remittances and cashline to small and medium-sized enterprises (SMEs). With the new integration, it allows SMEs an easier and faster access to 11 banks to apply for trade financing products like banker’s guarantee, letter of credit, import and export pre and post shipment financing, receivables invoicing. It offers SMEs a more streamlined, transparent, and accessible platform to manage their business funding activities efficiently.
Key benefits of the integration include:
Convenience and Efficiency: Through a single portal, customers may access several banks and financial services, doing away with the need to log in to various bank accounts or visit various websites. This convenience helps clients manage their financial activities effectively.
Access to a Wider Range of Services: The RYTE Trade Finance application portal offers clients access to a broader range of trade finance products from different banks. This diversity allows clients to explore and compare various offerings to find the best deal to suit their specific business requirements.
Real-Time Visibility: Clients can track the progress of their trade finance applications in real-time through the portal. This transparency provides them with greater visibility into the status of their applications, helping them to plan and make informed decisions promptly.
Simplified Documentation and Compliance: The portal offer standardized application templates to reduce the burden of paperwork. Client’s data are safeguarded by adhering to the industry’s stringent regulatory compliance requirements.
Faster Processing: With streamlined processes and access to 11 banks, clients can enjoy faster processing times for their applications.
“The integration of our INFT platform with the RYTE Trade Finance Application Portal further strengthens our commitment to empowering SMEs by providing them with a wide range of trade finance solutions to thrive in the global marketplace. With streamlined application and processing, our customers can now enjoy a seamless and digitalised trade finance experience,” said Eldwin Wong, CEO of GUUD Finance, a wholly owned subsidiary of GUUD Pte Ltd.
With the integration, SMEs can now access a multitude of financial tools and services that were once reserved for large enterprises, enabling them to grow their businesses and compete on an international scale.
For more information about the INFT platform and the Multi-Bank Trade Finance Portal integration, please visit https://guud.company/
For media enquires, please contact:
GUUD Pte Ltd
Chong Kit Lee
Chief Marketing Officer
Kitlee.chong@guud.company
About GUUD Pte Ltd
GUUD is a market leading global trade technology company that offers end-to-end seamless digital solutions and platforms that simplify global trade. Our comprehensive solutions span the entire trade value chain, from procurement platforms, logistics and compliance platforms, supply chain financing solutions to eGovernment portals that help facilitate efficient cross-border trade.
Through connected platforms, we simplify global trade for key stakeholders like government agencies, cargo owners, freight forwarders, trucking companies and using technologies like AI-powered Cognitive Machine Reading (CMR), IOT tracking system, EDI and API integration.
GUUD Finance is a wholly owned subsidiary of GUUD Pte Ltd, is a trusted partner for businesses seeking innovative and effective financing solutions. Its deep understanding of trade finance and supply chain operations play a critical role in ensuring seamless trade finance and supply chain operations. With a focus on digitization, transparency, and efficiency, GUUD empowers businesses to optimize their trade processes and unlock new growth opportunities.
Headquartered in Singapore, we’re fast-growing with regional offices in Indonesia, Cambodia and Kenya. GUUD has completed B2B and B2G trade facilitation projects in more than 17 countries around the world.
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