Insight & Analysis

Press release: Global eTrade Services introduces new finance services suite on CALISTA™

Published: Dec 2019

2nd December 2019 – Global eTrade Services (GeTS), a global trade platform company, today announced the launch of CALISTATM Finance, a suite of comprehensive financial services including global payments, quick financing, and cargo insurance specifically catered for customers of CALISTATM.

Newspaper press release

CALISTATM is an interoperable, neutral, and trusted supply chain platform that enables the orchestration of logistics, compliance, and financial activities.

In partnership with 12 leading payments, trade financiers, and insurance providers, CALISTATM Finance helps customers fulfill their trade financing needs seamlessly, securely, and smartly while making customer onboarding process faster with Know Your Customer (KYC) done within a day as opposed to two weeks traditionally.

Customers can conduct cross-border payments with 22 currencies and for any transaction amount and get access to more than five trade financing products with approval within 72 hours from the network of domestic bank, non-banks and peer-to-peer financiers. In addition, customers can easily access over 40 types of insurance products and advisory services based on their unique needs. Some of the partners onboarded onto CALISTATM FINANCE include DBS, ICBC, Capital Match, MoolahGo, Liquid Group, Finaxar, Rapyd, Thunes, KIB, Navigator International, AWG Insurance Brokers, and Havenport Investment.

Mr. Eugene Wong, Chairman of CrimsonLogic and GeTS, said: “As supply chains grow in complexity, presenting challenges around access to liquidity providers and capital, the need for greater integration between financing platforms, and corporates is growing in importance. CALISTATM Finance is set to revolutionise the way physical trade is financed and insured through a one-stop solution that presents best suited financing options – both traditional and non-traditional – for each specific trade.”

Mr. Chong Kok Keong CEO of GeTS said: “In our quest to make trade more accessible, easier and predictable, we’ve continued to build on CALISTATM’s proposition. In today’s shifty trade landscape, it is critical for businesses to not only be trading at peak efficiency and accuracy, but to also minimize any risk to their trade. With the launch of CALISTATM Finance, we are delivering a comprehensive suite of digital tools to help businesses trade with ease, managing across physical logistics, compliance and financial requirements of trade and supply chain.”

Ms. Joyce Tee, Group Head of SME Banking, DBS Bank, commented: “By enhancing the platform and adding on more payment and financing options, CALISTATM Finance has great potential to support SMEs in their business ambitions. We look forward to co-creating more innovative solutions for Calista’s users across the world.”

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