Company Overview
At Contour, we’re working to build a new global standard for trade finance. Our goal is to create a decentralized, global trade finance network where everyone can work securely in real time. By removing barriers and changing trade finance products, we’re making it easier and faster for businesses to conduct trade around the world.
Contour is building a foundation to change the trade finance industry by using blockchain technology to create a scalable network that brings digitization to the global trade ecosystem for the first time. This makes it more efficient and user-friendly, reducing complexity, costs, and inefficiency.
Contour is creating a platform as an accelerator to alter the trade finance sector by leveraging the power of decentralized applications. By creating a scalable network, Contour is bringing the advantages of digital to the international trade network for the very first time.
Key Executives
Carl Wegner, CEO
Contour is led by CEO Carl Wegner. He has 35 years of sales experience, with a focus on Greater China, in Cash Flow Management, Commercial Banking, Distributed Ledger Technology, and Financial Supply Chain . Their specialties include trade finance fintech and financial supply chain consulting.
Aaron Seabrook, COO
Aaron Seabrook is the COO of Contour. Corda Network Foundation board member He served as the Director of Services for R3 before joining Contour and was a representative of the Singaporean Financial Association’s and Sustainability Committee.
Joshua Kroeker,CPO
Contour CPO Joshua Kroeker longtime product manager, commercial banker, facilitator, and technologist. Leading Blockchain/distributed ledger expert driving collaboration to realize the potential of trade finance.
Products & Services
Letter/Line of credits
Credit letters are an important part of international trade because they give importers and exporters confidence. They can be hard to understand and use a lot of paper, but when they are digitized, they are faster, safer, and more effective
- LCs For Exporters & Importers
Contour’s end-to-end digital Letter of Credit solution is a great option for importers and exporters who want a cheap, fast, and safe way to conduct their transactions. Our solution makes the whole process clear and easy to see so that everyone involved can stay up to date.
User management can be a complex process for clients with multiple identities. A single platform that securely synchronizes data can make the process much easier and more efficient. By centralizing operations and checks, clients can manage their identities more easily and effectively.
- Banks
Compatible with ERP, contracting, and eBL trade finance solutions, Contour’s rapidly growing digital network connects local and regional banks to a global corporate network. Customers’ digital trade financing products benefit from this.
Banks can improve their customer experience by digitizing their services. This will allow customers to access their accounts and conduct transactions electronically without the need for paper documents. This will make banking more convenient for customers and help banks meet their environmental sustainability goals.
Operational and credit risk can be improved through real-time transaction visibility. This allows for better auditing and compliance. It also reduces the need for resources in these areas.
Company Reviews
- Making international trade easier and cheaper can help attract more clients. At the GTR Leaders in Trade Awards 2022, Contour was given the award for Best Trade Fintech.
- Contour is a top fintech player and was honored at the GTR Leaders in Trade Awards for being the best in digital trade. This demonstrates its success in providing innovative solutions for the global trade industry. The GTR Leaders in Trade Awards recognise global trade, commodity, supply chain, export finance, and fintech leaders. Contour is proud to be recognised as a Leader in Trade for Digitalisation.
- The Global Banking and Finance Awards have recognised Contour as the best new trade finance technology provider in Asia and Singapore. This award shows that our trade finance technology solution is unique and works well.
- Contour has been awarded the Technology & Innovation Award by Treasury Management International. This award recognizes banks, consultants, and technology companies that are driving global treasury management best practices and innovations. Contour is honored to be recognised as the Best Trade Finance Solution in 2021.
- Contour, a global trade finance network, has been ISO 27001 certified.As a result, it becomes the first blockchain-based global financing network to receive technical recognition. ISO/IEC 27001:2013 is the global standard for information security.
Related News
- Finastra and Contour have partnered to provide digitized financing capabilities. This will allow businesses to more easily and quickly conduct transactions and improve cash flow. The partnership is expected to help businesses of all sizes grow and compete in the global economy.
Finastra will team up with Contour to simplify the back-office processes of banks and corporations. The two companies will work together to connect a core banking platform to a decentralized network. This will make it easier for banks and their customers to talk to each other.
- Contour has announced that it has purchased the we.trade rulebook and will be expanding into open account trade finance. This move is expected to reduce risk, costs, and paper transactions while making digital services easier for clients. Because users can access their data from either platform, the solution provides full transparency and visibility. This shortens the Letter of Credit by seven days.
A digitized financing network Contour has acquired the rulebook and other legal papers from the defunct blockchain platform we.trade. This will help them launch their digital open account trade finance product. The rulebook explained how banks could use smart contract data sets to do invoice financing, BPUs, and BPU financing, and automatically settle them.Contour believes that it will be successful in trade finance where We.trade failed, because the BPU will be an add-on to its network, not its only product. This will allow Contour to digitize trade finance from start to finish.
- To streamline shipping and paperwork, TradeLens integrates with the Center for Virtual Trade Finance. The network provides a LC solution compatible with the digital lading bill of the blockchain-technology supply chain platform (eBL). This will facilitate trade between exporters, banks importers, and logistical service providers.
Using blockchain technology, the TradeLens eBL system sends a digital document from a carrier to a shipper. This cooperation is made feasible through Contour’s financing network and direct contact with significant ocean carriers. Companies and banks will be able to link their financial service requirements to the actual cargo in this way, resulting in a seamless, paperless transaction from beginning to end.
The TradeLens eBL can be used as proof of shipment by buyers and sellers thanks to Contour’s digitized LC solution. This will improve user experience, streamline processes, and accelerate work.
Global trade leaders is a large repository of information about reputed FinTech companies and trade finance firms. To learn more about Fintech leaders, please visit Global Trade Leaders Website.
