(Singapore, 18 July 2020) The Commodities Intelligence Centre, Singapore’s first blockchain-powered physical commodity B2B e-trading platform, has announced over the weekend the launch of a new Internet-based tool suite to help local businesses tide over the challenges arising from COVID-19.
The tool suite, called CIC Data Pro, and Leads Generation Business Growth Service, has been supported by the Singapore Business Federation (SBF) under its SBF Rising in Support of Enterprises (RISE) Programme for eligible SBF members.
Mr Peter Yu, Chief Executive Officer of Commodities Intelligence Centre, said, “CIC Data Pro and Lead Generation Service will enable companies to diversify their revenue sources and extend the global reach of their supply chains, building business resilience against the pandemic.”
Catered to a broad range of industry verticals from manufacturing, import-export, wholesale, financial services to logistics, CIC Data Pro leverages big data analytics to harness insights from its comprehensive collection of 1.5 billion records of customs and trade data, the company said.
The data will enable businesses to uncover new market opportunities and identify reliable partners and suppliers from more than 90 countries across Asia, Europe and the Americas. It also provides customised market insights into the trading activities of global companies, such as information on counterparties, production specifications and past shipment details, the company said.
The CIC Data Pro is currently available on CIC platform, and is part of the suite of solutions offered by CIC to help companies reduce transaction costs, optimise the efficiency of their supply chains across cross-border trading, financing, logistics, compliance and risk management, achieving greater trading synergies globally.
More than 40 companies, including global leading supply chain financial company, Linklogis and renowned enterprises have subscribed to take advantage of CIC Data Pro’s data services.
In an effort to double the support for Singapore’s business community amid the COVID-19 pandemic, CIC will also on-board GeTS CALISTA Finance with a US$20 million (S$27.8 million) fund for B2B trade financing. This fund will enable businesses and SMEs to be able to use CALISTA Finance to address short-term liquidity challenges, and to fulfil trade financing needs seamlessly, securely, and smartly.
CIC is a joint venture between Singapore digital bank hopeful ZALL Smart Commerce Group, Global eTrade Services (GeTS) and Singapore Exchange (SGX).