Mitigram awarded SWIFT 2021 Trade Finance for Corporates Compatible Application label
Stockholm, Sweden, 12 October 2021
Mitigram announced today that it has been awarded SWIFT’s “Trade Finance for Corporates” application label. This is a major milestone for Mitigram’s customers as the support of SWIFT’s connectivity and trade standards offers corporates secure access to all banks involved in financing trade.
“At Mitigram, we are on a mission to remove friction from global trade financing, so every business can trade freely. Through SWIFT’s L2BA connectivity and MT798 standards embedded in our Mitigram application, we now offer our clients access to any trade bank on the planet.”, says Mitigram CEO Milena Torciano. “We replace siloed, analogue communication with a fully centralised end-to-end transaction ledger, automated data capture and secure multi-bank communication. I am a passionate believer that when trade finance is seamless and technology is democratised, everyone benefits.”
Francesco Lucchese, Head of Trade & Receivable Finance Products, Intesa Sanpaolo added: “Intesa Sanpaolo bank has been supporting SWIFT’s MT 798 standards since many years and are welcoming additional corporate use of the SWIFT channel and standards in the future.”
Mr Stefan Schweigert, Group Head International Business at LBBW Landesbank Baden-Württemberg, commented: “We are excited to hear about this new SWIFT gateway application coming to the market. This will provide us with an additional capability to expand our digital journey with our clients. We appreciate that Mitigram is now making modern technology available also for the SMEs, the backbone of our economy.”
“Corporates and mid-caps can now benefit from a most intuitive multi-banking application dedicated to trade finance. Mitigram’s embedded SWIFT connectivity and standards support makes it even more attractive.”, said André Casterman, Chair Fintech Committee, ITFA who launched SWIFT’s initial trade offering for corporates a decade ago. “SWIFT-connected corporates also benefit as they embrace Mitigram for trade finance flows. It’s a winning proposition for all parties involved.”
Mitigram is the leading digital platform in global trade financing. Already used by over 200 multinational corporations, leading commodity traders and financial institutions, Mitigram enables seamless assessment of real-time risks, capacity and pricing from partner banks, while leveraging SWIFT connectivity, APIs and Artificial Intelligence to deliver the best possible financing access and execution.
Mitigram, the leading digital platform in global trade financing, today releases a major update to its brand identity and positioning. The new identity highlights Mitigram’s bold commitment to making trade finance seamless for corporates and financial institutions alike.
Milena Torciano, CEO Mitigram
“We built Mitigram to open up a closed market, and streamline and augment global trade. Our tremendous growth and global adoption calls for a new voice that speaks to Mitigram’s expanding ecosystem of disruptive and innovative solutions that are transforming the industry.
Our new brand identity and clear ‘seamless’ promise shows the world who we are and where we are going. Today’s trade finance systems aren’t fit for the digital age. Mitigram is. When trade is made seamless and technology is democratised, everyone benefits.”
Mitigram is one of Europe’s fastest growing FinTechs with over 200 global multinational corporations, large commodity traders and leading financial institutions registrations on its global platform.
Since its commercial launch in 2016, global platform Mitigram has enabled over $70bn in trade flows, facilitated trade in over 100 markets and covered risks on over 1000 financial institutions worldwide.
A major development for the keenly watched FinTech is its recent SWIFT certification. This makes Mitigram one of only 5 platforms in the world to support the full suite of SWIFT for Corporates messaging.
Marjon Wohlén, Chief Product Officer Mitigram
“At Mitigram, we are on a mission to remove friction from global trade financing, so every business can trade freely. Through API-integrations, SWIFT’s L2BA connectivity and MT798 standards embedded in our Mitigram application, we now offer our clients access to any trade bank on the planet.”
Mitigram is the only independent, multi-bank, multi-instrument, multi-format digital platform that is fully channel agnostic. This makes Mitigram perfectly placed to deliver both the best possible access and execution in global trade financing. With this in mind, Mitigram aims to be the No.1 preferred trade financing platform for corporations, financial institutions and commodity traders by 2023.
Today’s new brand identity communicates this unrivalled capability and the company’s exciting future ambitions.
Mitigram is the leading digital platform in global trade financing. Already used by over 200 multinational corporations, commodity traders and financial institutions, Mitigram enables seamless assessment of real-time pricing, risks and capacity from partner banks, while leveraging API connectivity and AI for trade execution.
The trade finance gap represents the cumulative amount of requested trade finance that is rejected. In 2019, the Asian Development Bank estimated that the global trade finance gap was at USD 1.5 trillion, but amid the fallout from the pandemic this figure has skyrocketed. A new research from the International Chamber of Commerce (ICC) estimates a capacity of USD 1.9 to USD 5 trillion in the trade credit market is necessary to return to 2019 levels. Factoring in this estimation along with the existing 2019 trade finance gap of USD$1.5 trillion means that now between US 3.4 trillion and US 6.5 trillion are needed to be able to meet the 2015 UN’s Sustainable Development Goals.
Mitigram is the most trusted network in Trade Finance and used by many of the world’s largest corporates and banks. This video will show how the Open Market Discovery module can help banks to see more business opportunities and acquire new customers.
Less than six months after launching the Open Market Discovery module, Swedish fintech Mitigram is releasing their latest, and to date biggest, add-on to their Trade Finance platform: MitiManager, a solution that will allow corporates to manage all their Trade Finance Transactions in one application.
STOCKHOLM, Feb. 16, 2021 /PRNewswire/ -- In May 2017, The Economist wrote an article echoing the idea that data had overtaken oil as the world's most valuable resource. For as much truth there is in such a statement, it is equally true that the only thing worse than not having data to work with, is to have "bad data" that lead to bad decisions.
"A challenging yet exciting year is coming to an end. In 2020 Mitigram has set a new record: over 44 thousand individual requests for Trade Finance quotation were sent out using our platform. Thanks to all the top corporates and financial institutions that have trusted Mitigram and made all this possible. Merry Christmas and Happy New Year."- The Mitigram Team
During the last decade, something rather extraordinary has been happening in Sweden's capital Stockholm, as the emergence of Unicorns have become quite common. In this context, a Unicorn is not a magical creature, but a start-up that went through scale-up and eventually grew into a business valued in excess of USD 1Bn. With a population of 2 million people, Stockholm produces more unicorn companies per capita than any region outside Silicon Valley. Names such as Skype, Spotify and Klarna are some of the most famous examples of Stockholm's unicorn factory. As Sweden remains one of the most well known tech hubs in Europe, another unicorn in the making could join the party: Mitigram, a fintech scale-up with a unified platform to connect all the participants in the $10Tn Trade Finance industry.
Mitigram has release a Trade Finance Podcast focused on sharing ad in-depth commentary to the latest news in the Trade Finance Industry. The podcast is available on popular platforms such as Spotify, Youtube and Anchor.fm
Mitigram has launched a unique initiative in the Trade Finance space, with the creation of the first Trade Finance focused podcast on Linkedin. The first episode features special guest, Head of Country Risk at HSBC Ms. Victoire De Groote. Subscribe to the podcast on www.linkedin.com/showcase/trade-finance-podcast
Mitigram has released Open Market DISCOVERY; a significant new module that will further democratise trade finance by helping corporates, traders and banks to build global networks, access new relationships and originate new trade transactions.
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