Broadridge Financial Solutions and the world’s premier fintech platform for trade finance digitalization, monetization, and risk mitigation, LiquidX, have announced the launch of their new business process outsourcing (BPO) solution, InBlock TradeOps This new service gives a full middle and back-office operations solution in trade finance integrating the most advanced technology of LiquidX and the world-class outsourced capabilities of Broadridge.
The Chief Executive Officer of LiquidX, Jim Toffey, has said that “InBlock TradeOps is the first full solution to concentrate on lending and investing in this multi-trillion dollar credit asset class, solving all of the operational concerns.” We take great pride in the scalable pricing and servicing strategy of TradeOps, which helps investors run their businesses more efficiently and profitably.
Large chunks of the process are automated by InBlock TradeOps because of the powerful digitization technologies provided by InBlock. Because of this, financial institutions and asset managers that invest in trade finance can cut costs and improve their investment, risk management, and regulatory compliance decisions with real-time data.
Broadridge’s Chief Operating Officer for Global Technology and Operations, Matt Connor, has stated that the company believes InBlock TradeOps will save the trade finance industry a substantial amount of money in operational costs over the next decade. According to our estimates, InBlock TradeOps can reduce operational costs for many businesses by 30-50%.
Dominic Capolongo, chief risk officer at LiquidX, said, “The market has typically solely focused on addressing corporate customer pain points, and we are happy to offer a solution that overcomes difficulties that the legacy technology has generated for asset managers and regional banks.” “InBlock TradeOps has been in beta for over a year, and its users have already seen significant benefits. An interesting new endeavour for LiquidX and our strategic clients is the expansion of our business process outsourcing (BPO) service to a wider client base.”
