Tradeteq Signs Deal With Microsoft To Automate Trade Finance

Recently, Tradeteq has signed a deal with the Microsoft Azure cloud platform to simplify the process for the clients in the diverse market to avail of the company’s services without struggling with any types of security issues. Tradeteq is a popular platform designed for banks to simplify the process of trade financing without depending on the traditional sources or continually initiating transactions in the US dollars. According to the various FinTech media outlets, Tradeteq stated that the deal by the company will help the organization’s services implement on the cloud platform as reported by the FStech.

Christoph Gugelmann, CEO of Tradeteq said in a statement, “Connectivity is a vital component to improving access for banks in trade finance. By using a cloud-based product, financial institutions can improve their ability to connect, trade, and distribute trade finance assets, regardless of their location.”

He further said, “Connectivity also extends to our role in the reseller program, allowing us to be readily available for other banks keen to take advantage of our service,” Tradeteq is of opinion that it has turned into a re-merchant of Microsoft services, according to the reports.

The deal with the Microsoft cloud platform will help the company to facilitate its services in 60 countries, according to the report. Since the COVID-19 has attacked the world economy, it has bound organizations around the world to move their transitioning process to the latest digital platforms and as a result, different companies have found out ways to execute their transactions to various platforms such as Microsoft Azure or Amazon web services.

In July, Mastercard Labs Head Ken Moore stated that he is hoping that new ways of operating business considered during the pandemic will continue to be in effect for the long term. He said, “We’ve all developed new behaviors and new patterns and then repeated them over months, I think we've changed and we’ve changed for good”.

Just after the collaboration has been announced by the Mastercard with Microsoft, Moore executed his comments and praised the Mastercard’s leader’s eagerness about the opportunities that will be offered by blockchain technologies to ensure secure digital transactions.


Source:

https://www.pymnts.com/news/b2b-payments/2020/trade-finance-player-tradeteq-inks-deal-with-microsoft/