London Forfaiting Company further develops its digital technology in cooperation with TradeSun data
San Diego – September 15, 2023 – TradeSun and London Forfaiting Company (LFC) have announced an agreement for LFC to leverage TradeSun’s digital technology to advance their risk and compliance capabilities, with focus on ESG sustainability, across global trade.
LFC is now able to provide its customers with TradeSun’s automated and low footprint risk scoring technology, CoriolisESG. The scoring methodology was established by the TradeSun-led Working Group of 60 global and regional banks along with industry standards bodies, governmental organizations and business representatives.
TradeSun, as a pioneering technology provider operating around the world, is a well-matched partner for LFC, with its extensive global country coverage and rich history of innovation. Through independent, trusted and dynamic risk analysis, the partnership will enable LFC to further grow trade in emerging and developing markets.
CoriolisESG measures company activities against recognized frameworks and regulations, including the UN Sustainable Development Goals and the EU Taxonomy, giving business leaders full transparency over the risks associated with their operations and providing the foundation for innovative sustainability-linked finance products.
After joining the Working Group last year, LFC moved quickly to adopt TradeSun’s digital technology to grow their business and provide opportunities for their customers to improve their risk assessments.
Simon Lay, LFC CEO said: “LFC’s model has always revolved around scalability, and we firmly believe that technology enhanced by good work practices plays a pivotal role in combatting financial crime within the trade sector. We are excited to work alongside TradeSun and heed guidance to involve our trade partners and clients in the process. Such collaboration will allow us to meet our regulatory obligations to stay at the forefront of ESG best practices, which will help us lead to a successful and responsible future to developing our business.”
Nigel Hook, TradeSun CEO and Founder, said: “We are so pleased to be working with LFC, a company known for its innovative approach to trade and compliance, to support the team. As regulations are legislated around the world, financial institutions will need to demonstrate they are complying and reporting risks associated with their activities. The TradeSun AI platform helps firms to do this while minimizing administrative burdens on the FI, their clients, and their respective suppliers.”
TradeSun contact: Andrew Hook | email@example.com
About: TradeSun is an innovator and leader in trade digitalization, compliance, and automated risk scoring. TradeSun’s suite of products, including Real-Time Compliance and CoriolisESG, is transforming the trade and supply chain ecosystem to better manage sustainability and financial crimes risks.
LFC contact: Paul Bohannon | firstname.lastname@example.org
About: LFC was established in 1984; a market leader in its field, specialising in the arrangement and provision of forfaiting and other trade-related finance to a wide variety of clients ranging from SMEs to large financial institutions. LFC’s continued success is achieved through continual development and evolution to meet the changing needs of clients.