Partnership with CDI
Tradelink joins HKMA's Commercial Data Interchange ("CDI") initiative as a data provider. As a partner of CDI, Tradelink supports CDI to enable more efficient financial intermediation in the banking system and facilitate innovative usage of commercial data to enhance financial services.
What is CDI?
Launched by the Hong Kong Monetary Authority as a key initiative of the "Fintech 2025" strategy, CDI is a next-generation financial data infrastructure that aims to enable more efficient financial intermediation in the banking system and enhance financial inclusion in Hong Kong. Instead of multiple one-to-one connections between banks and data providers, each bank and data provider will have a single connection to CDI that facilitates data sharing.
Tradelink's role in CDI
As the pioneer in providing Government Electronic Trading Services (GETS) since 1997, Tradelink is a dominant player in the GETS market with a massive base of customers in the trade and logistics industry in Hong Kong. Through Tradelink, customers submit import & export declarations to the Hong Kong Government in compliance with the relevant legislations in Hong Kong. Under the GETS licence granted by the Government, Tradelink is required to keep in custody customers' import & export declarations submitted up to 7 years. With the consent of data owner i.e. our customers provided via CDI, Tradelink, as a data provider, shares customer's import & export trade declaration data with the data consumer i.e. financial institutions for various uses, such as loan application.
Significance of trade declaration data
As required under the Laws of Hong Kong, import & export declarations are required to be lodged for all shipments imported into and exported out of Hong Kong within 14 days of shipment. As a statutory document, an import & export declaration lodged by our customers provides reliable reference information reflecting current performance of their businesses. Such information includes:
- Goods imported / exported with quantity and values of trade
- Trading country (importing / exporting country)
- Trading partners
- Years of import / export business
Tradelink features as a case study in ICC Digital Standards Initiative report on streamlining loan approval for SMEs through trade data sharing
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Our partnership with PAObank
With the consent of our customers, Tradelink provides customers' trade declaration data to PAObank as alternative data that facilitates credit assessment of these customers for loan approval. The collaboration successfully addresses the pain points faced by SMEs in trade finance such as lengthy documents processing time for risk assessment.
Around
270
approved cases
Nearly
HK$0.6 bn
loan amount drawdown
Success story
Helping local toy brand tackle cash flow problems and seize business opportunities
PAObank has leveraged alternative data provided by Tradelink to conduct credit assessments to speed up the loan application and approval process, leading to a more convenient and cost-effective experience facilitating our business growth.
Founder and Chairman of Threezero (HK) Limited
Threezero is an original toy brand which designs, develops, manufactures and sells collectible figures throughout the world. To tap on new business opportunities, the company has to develop new products from time to time but research and development work requires a lot of investment. The company applied for funding but it took a long time for banks to process their application and as a result, the company were forced to delay some of their new development plans. With the consent from threezero, Tradelink shares their declaration data with PAObank to facilitate their loan approval process. With a shorter processing time and a lower interest rate, threezero was very satisfied with their CDI experience.
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