Company Overview
The Marco Polo Network is a digital supply chain network that is overgrowing. It provides corporations and financial service providers with the latest supply chain finance and digital supply chain solutions. Marco Polo Network is a global company in Australia, the Czech Republic, France, Germany, the Netherlands, Spain, Switzerland, and the United Arab Emirates. London, Singapore, and the US are strategic hubs for the Dublin-based company as of 2022. The Marco Polo Network helps businesses grow by making supply chain relationships smarter and better connected.
The Marco Polo Network is a group of around 45 banks that have come together to offer a software platform for trade, payments, and working capital financing. The network is powered by blockchain technology, which makes it easy for banks and other market participants to exchange trade data. The network has many features and is digital and data-driven. It also integrates well with other systems. The Marco Polo Network offers a better experience that can help build relationships between banks and their customers.
Key Executives
Rob Barnes, CEO
Rob is the CEO and co-founder of Marco Polo Network. He founded PrimeRevenue Inc. in 2002 and was the CEO of one of the first supply chain finance (SCF) software companies. Logistics and financial technology gave Rob trade finance expertise.
Tynan
Richard Tynan co-founded the Marco Polo Network. He was an investment banker for over 25 years. He worked in fixed-income and capital markets. Richard was RBS’s Head of Debt and Equity Syndication, Morgan Stanley’s Head of Corporate Debt, and Lehman London’s Head of Private Placements. Richard founded the London-based PrimeRevenue Capital Market.
David
David is a successful fintech entrepreneur who understands global trade and distributed ledger technology. As a blockchain pioneer, he focused on international trade, trade and supply chain finance, payments, and transaction banking.
Sharon Ennis
Marco Polo Network’s Chief People Officer is Sharon. Her experience spans 20 years. She worked as a consultant in high-growth, niche financial services and private equity firms, changing how people worked and preparing her for the Marco Polo Network.
Products & Services
Marco Polo Network offers a complete solution for corporate buyers and their supply chains, combining open account automation (AP and AR automation), financing, B2B payments, and ESG visibility. This provides buyers with more payment options and increased transparency, improving SMEs’ working capital. Marco Polo Network also helps SME and MWBE suppliers by allowing early payments, making transactions clearer, and working with accounting software.
Automation of Open Accounts
The account opening feature in AP and automation solutions approves transactions in seconds. It also displays bills in various ways, which helps to match them instantly and solve any issues that may arise. The entire process is entirely transparent to the user.
B2B Payments
Businesses can now take advantage of blockchain-powered smart contracts to automate payments. This means that on-time and early settlements are guaranteed, and suppliers’ bank accounts and payments are managed. Accounting software can then reconcile cash flow with Enterprise Resource Planning (ERP) systems.
Pre-payments
There are many benefits to prepaying your suppliers. It allows them the option to start early, and it also improves their sustainability.
ESG Integration
ESG was created to simplify accountability and offer financial incentives based on suppliers’ ESG ratings. It also clarifies scope 3.
Company Reviews
- Marcopolo received the 2021 SME News Legal Awards under In-House FinTech Team.
- Global Finance Magazine has named the DLT platform for trade finance as a top trade finance provider.
- The Corporate Vision Technology Innovator Awards honoured the most innovative trade finance technology developers in 2020. Marcopolo received this prestigious award and was recognized as the best in the industry.
Related News
BNY Mellon supports Blockchain use in Global Trade Finance
On October 10, 2021, Marco Polo Network announced that it had teamed up with BNY Mellon. The partnership will see the two companies use blockchain technology to digitize international trade finance and working capital for suppliers and buyers. Supply chain finance solutions like payables finance and receivables discounts help suppliers ship goods and services to buyers worldwide. By joining Marco Polo Network, BNY Mellon can add liquidity to the global supply chain more efficiently.
Cotti left Marco Polo to concentrate on consulting for trade digitalization.
On September 1, 2022, the Marco Polo Network lost a key trade finance expert with the departure of Daniel Cotti. Cotti has been managing director of the Blockchain Trade Finance Consortium since 2017, spearheading efforts to digitize trade finance.
RBS, JP Morgan, ABN Amro, and Citibank have provided Bolero with trade finance services for over 40 years. Before Bolero was sold to WiseTech Global earlier this year, he was the company’s board head. Cotti has now announced that he will focus on trade consulting and digital trade as a service, focusing on documentary trade.
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