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CWEIC’s Oliver Everett writes about technology connecting businesses across the Commonwealth in Trade Finance

oe-crop2The Sibos 2016 Special Issue of Trade Finance magazine has featured an article by Oliver Everett, CEO of the Commonwealth Enterprise and Investment Council (CWEIC), which discusses the Commonwealth Trade Initiative (CTI), a business-to-business (B2B) digital platform that connects members with suppliers, customers and distributors across the 53 nations of the Commonwealth, where the cost of bilateral trade between members is 19% lower than trade between non-members.

Everett discusses the diverse landscape of digital trading platforms where websites such as Alibaba and Amazon are dominant players, but explained how the CTI stood out from the crowd by using a sophisticated business-matching algorithm that automatically provides users with targeted business leads based on their user profile information. The algorithm works behind the scenes to gather information to produce daily matches, and combines big data and machine learning to automate processes such as procurement and networking.

To read the full article please go here.

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