TradeIX was named as Supply Chain Finance Innovation of the year at the SCF Awards in Amsterdam last night. Rob Barnes, the CEO of TradeIX was also named Supply Chain Finance Leader of the Year for his promotion of such financing solutions over the years, including his role as founder of PrimeRevenue as well as his founding of TradeIX.
The Supply Chain Finance awards are organised by the SCF Community which brings together research institutions, corporates, and professionals who work in the sector. The awards are judged by an independent panel of experts and recognise those who have made the greatest contribution to developing supply chain finance solutions.
The world of Supply chain finance is constantly evolving offering more and more financing options for corporates and their trading partners. However, the current market and the solutions are still disconnected with siloed systems that do not speak to one another.
TradeIX’s innovative platform is rewiring the trade finance ecosystem to ensure an efficient, smarter, and easy to integrate technology infrastructure. The platform from TradeIX offers powerful end-user facing Supply Chain Finance applications. Its open APIs or communication channels connect multiple partners providing a secure, global and open business network with its core infrastructure leveraging distributed ledger technology.
TradeIX has recently launched a new open account trade finance initiative alongside software firm R3 and over a dozen international banks and completed the first blockchain-enabled trade finance transaction for a global logistics company on the platform.
Rob Barnes, CEO of TradeIX, said: “We are thrilled to have been recognised as Supply Chain Finance innovator. This is a prestigious award and a real mark of success for the work the whole TradeIX team has put in to build our innovative platform and fundamentally improve the processes in Supply Chain Finance to the benefit of all participants.”
“This is a reinvention of the SCF proposition from being a solution for companies to creating an SCF network across multiple providers,” said Michiel Steeman, chair of the judging panel and of the Supply Chain Finance Community.
Barnes was presented with the award not only because of what TradeIX has achieved to date but because of his extraordinary track record in redefining the industry. In 2002 he was a co-founder of PrimeRevenue, creating the first non-bank platform for supply chain finance, growing it to a business that processed more than $120bn in trade. “PrimeRevenue was at the frontier before the rest of the market followed,” said Michiel Steeman, chair of the judging panel and of the Supply Chain Finance Community. “He is again setting new directions for the SCF market with TradeIX,” said Michiel Steeman.
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